If you have your money with someone who is the investment advisor (unregistered to boot!), the custodian, and the broker / dealer at the same time, YOU are to blame for getting scammed. Blaming the SEC feels good – and there’s no doubt there’s holes there – but in the end we are responsible for [...]

By Douglas M. Mancino, et al.
Partner, McDermott Will & Emery
Tax-exempt organizations are well-advised to attribute significant focus and attention to the governance questions posed on Part VI of the Form 990, and to the underlying governance concepts raised by these questions.
On May 29, 2009, the Internal Revenue Service (IRS) posted a series of “FAQs” and [...]

President Obama’s plan to modernize financial regulation and supervision reflects a complex and consequential policy that directly impacts private investment funds and their managers.

Sen. Jack Reed (D-R.I.), who heads the Subcommittee on Securities, Insurance and Investment, offered the legislation a day before President Barack Obama unveils his wide-ranging reform of the U.S. financial regulatory system.

The ex-wife of beleaguered Broadcom Corp. co-founder Henry T. Nicholas III has lost an attempt to limit his control of the family’s fortune.
Orange County Superior Court Judge Mary Fingal Schulte ruled Thursday that probate court was not the proper venue for Stacey Nicholas to seek to have her ex-husband removed as co-trustee of the family’s [...]

As the Obama administration prepares to unveil plans for overhauling financial regulation, potentially addressing such diverse issues as credit card lending and global economic threats, a multifront war is brewing. It pits competing interests among businesses, consumers, government agencies and lawmakers against one another.
The outcome of this battle is likely to shape how much profit [...]