If a contest for the most Orwellian bill title were held, Rep. Ann Wagner's newly reintroduced "Retail Investor Protection Act" would be a serious contender. Despite its title, this legislation has nothing to do with protecting retail investors.
In addition to shedding crocodile tears over the potential harm to middle-income savers if brokers have to start acting in their customers' best interests, financial services firms and their lobbyists have increasingly voiced their outrage that the Department of Labor believes it has a role to play in regulating retirement advice.
Ever wonder what the fuss about a fiduciary standard is all about? Last week's Reuters article revealing how the Puerto Rico arm of UBS drove reluctant brokers to sell high-risk bond funds to their customers offers a perfect illustration.
Former Texas Republican Governor Rick Perry has joined the board of directors at Energy Transfer Partners, a natural gas and propane company headquartered in Dallas, Texas that has proposed to build a controversial Bakken crude oil pipeline across Iowa.
Though the LatAm capital markets are fighting to ward off further downward movement due to stumbling oil prices and weakening currencies, one long-term strategy that will continue to bring more liquidity to these markets is better corporate governance practices.
With nowadays technology which keeps simplifying revenue management while making crowdfunding platforms as commodities, I believe royalty based crowdfunding is set to be one of the most popular models in the next two-three years.
Until the adoption of SEC rules to implement the crowdfunding exemption, operators of crowdfunding platforms should tread with extreme caution to ensure compliance with U.S. securities laws. Eureeca discovered this the hard way.
Delaware courts often set standards for what corporations are permitted to do. In May, the Delaware Supreme Court ruled that a corporation's board of directors can unilaterally amend the company's bylaws to include a "loser pays" provision that shifts all litigation expenses to a plaintiff who sues the company for intra-corporate wrongdoing.
"Every one of my books had killed me a little more," - this profound and highly personal quote by American author Norman Mailer has become one of my f...
Remarkably, Goldman Sachs, one of the richest, most powerful, politically connected (aka Government Sachs) too-big-to-fail Wall Street banks, has demonstrated a Teflon-like ability to bounce back from egregious misdeeds, if not outright illegal conduct, and horrible publicity.
The indications we've been given -- although no one is willing to state definitively what the final rule is likely to include -- suggest that we shouldn't get our hopes up that our chief concerns will be comprehensively or even meaningfully addressed. We hope we are reading those indications wrong.
The real value of the book is that its detailed description of this particular scam provides a universal blueprint of the way all such scams work on Wall Street, throughout the financial industry.
As the revolving door spins faster than ever between jobs in government and corporate America, information and who you know are the currency that gets you through the tollgate, information that paying clients then use for ever greater profits and a competitive edge.
President Obama has still not responded to the 100,000+ Americans who signed the We the People petition demanding ECPA reform (it's been 152 days -- for comparison, a petition to build a Death Star got a response within 29 days.).
On April 24, 2010, Rick Ungar, then writing at True Slant, 1 and Barry Ritholtz, a blogger at The Big Picture, 2 exchanged views.
Forces at work from Tokyo to Kiev have been roiling the U.S. stock market for a couple of week. But the financial sushi that is now on the menu in Japan, and Russia's "Crimea of the Century" are only part of the story.