Tuesday, June 29, 2010

Arbitration Panel Orders Goldman Sachs to Pay $20.58 million

Goldman Sachs has been ordered to pay $20.58 million to creditors of a failed hedge fund to settle claims that the bank helped the fund perpetrate a Ponzi scheme. More>>>

Monday, June 21, 2010

No Fund for States to Oversee Advisers?

If the legislation that is currently moving through Congress passes, state regulators will take responsibility for the oversight of all investment advisers who manage less than $100 million dollars, a change from the current benchmark of $30 million dollars.

While the state regulators have been pushing hard to increase their power through this piece of legislation, there is one small problem - they don't have the funds to regulate all of these additional advisers.

State Advisor Regulation Strains Budgets

Attracting Investors - Movie Industry

Many filmmakers begin their careers by persuading private investors to back them. Indeed, unless you are a star like Kevin Costner or Barbra Streisand, it is rare for a major studio to fi¬nance a beginning filmmaker. Banks will not lend money without substantial collateral. Loans based on pre-sales are difficult to obtain because territory buyers want packages with name actors from an experienced director. That leaves most film¬makers looking to Mom, Dad, and whatever they can scrape up from friends, relatives, and MasterCard. While such resources have financed many films, distributor’s expectations have risen over the years. With a glut of independent motion pictures available, many distributors are not interested in acquiring a feature unless it 1) is shot with name actors; or 2) wins an important film festival.
More at the Entertainment Law Resources Blog

Proposed Rules For Breaking Erroneous Trades

The Securities and Exchange Commission announced that the national securities exchanges and the Financial Industry Regulatory Authority (FINRA) are filing proposed rules to clarify the process for breaking erroneous trades. The rules would make it clearer when, and at what prices, trades would be broken.

SEC to Publish for Public Comment Proposed Rules for Clearly Erroneous Trades