Judge Rakoff Berates SEC Again in Citigroup Case
Federal Judge Jed S. Rakoff is not pleased with the Securities and Exchange Commission again. Nor is he happy with Citigroup, as he accused both the agency and the financial institution late Thursday of making an end run around his decision not to delay the court case against Citi by...
SEC Wins Delay in Citigroup Case
The Securities and Exchange Commission on Tuesday was granted a two-week delay in its securities fraud case against Citigroup as it seeks to have a judge's decision to toss its settlement with the bank reversed.
Judge Rakoff Says Goldman's Blankfein Can Testify in Insider Trading Case
Controversial Federal judge orders that deposition can be taken before Rajat Gupta insider trading trial.
Judge Blocks, Blasts SEC-Citigroup Settlement
Judge Jed S. Rakoff on Monday rejected a settlement negotiated between the SEC and Citigroup over a $1 billion mortgage fund and said that he could not determine whether the $285 million settlement was “fair, reasonable, adequate and in the public interest.”
Judge Imposes Record Fine on Galleon's Rajaratnam
Judge Jed S. Rakoff assessed a $98.2 million fine against hedge fund billionaire Raj Rajaratnam of Galleon Group while criticizing the SEC's settlements in insider trading cases
One Cheer for NAIFA
The battle for the fiduciary standard in financial reform legislation took an unexpected turn a couple weeks ago. The National Association of Insurance and Financial...
A Tail is Not a Leg
As the rhetoric heats up over regulatory reform one is reminded how much political life has not changed all that much since Abraham Lincoln was quoted noting the following: "How many legs does a dog have if you call the tail a leg? Four..."
SEC Chairman Speaking the Fiduciary Language
SEC Chairman Mary L. Schapiro's September 24th speech, before the Financial Services Roundtable, included her most recent public remarks on the fiduciary standard. The Chairman's remarks are important.
Rakoff's Bank of America Opinion: "The Tipping Point"
In September 2013 when we look back on Lehman Bothers' demise, will we also see a "reformed" financial system and regulatory structure? One that may be hard to recognize compared to today's structure? If "yes," look to Judge Jed S. Rakoff's opinion.
SEC-Bank of America Settlement "Does not Comport"
Judge Jed S. Rakoff of the United States District Court of the Southern District of New York has thrown out a proposed settlement between the SEC and Bank of America.