In the “old days” ( some 10-20 years ago), persons intent on obtaining unauthorized disclosures of the personal identifiable information (“PII”) of clients of broker/dealers and/or investment advisors would use so-called “brute force” attacks, randomly trying to guess a password or combination of passwords in order to gain access.» Read More
For decades, lenders have extended credit facilities, both large and small, using LIBOR-based interest rates and documents relating to these facilities, such as promissory notes as adjustable mortgages, and often contain LIBOR-related provisions.» Read More
Many years ago, in the 1940s, there was a series of B movies about a private eye named Boston Blackie, a former jewel thief turned investigator. Those movies were followed (1951-1953) by a weekly television show featuring the same actor, Chester Morris, in the title role.» Read More
Western Europe is home to 57 stock exchanges (according to Wikipedia as of October 9, 2020) located in 36 countries, including Spain with five exchanges and Germany with six. Of these 57 exchanges, five are considered major platforms for trading securities, namely:
- Euronext, which is a Pan-Europe exchange covering markets in Belgium, France, Ireland, the Netherlands, and Portugal
- The London Stock Exchange, which has global listings
- The Deutsche Boerse, which handles the Frankfurt Stock Exchange/Xetra
- The SIX Swiss Exchange
- Nasdaq Nordic, which comprises Scandinavian, Baltic, and Caucasian stock exchanges
The five major exchanges trade securities with a market capitalization of over $1 trillion (U.S.).» Read More
On September 16, 2020, the U.S. Securities and Exchange Commission (“SEC”) adopted amendments to its existing Rule 15c-11, which governs the disclosure obligations of market professionals with respect to the so-called “Over-the-Counter” securities. One may see this as a simple update of a Rule that has not been addressed since 1991 (almost 30 years); alternatively one may see this as part of an effort to review and revise the entire U.S.» Read More
On Tuesday, September 22, 2020, the U.S. Securities and Exchange Commission (SEC) charged two men, Yinghang “James” Yang and Yuanbiao Chen, with reaping the economic benefit of an insider trading scheme. The U.S. Attorney for the Eastern District of New York charged the two with criminal securities fraud.» Read More
The New Jersey Superior Court, Appellate Division case Giordano DeCandia v. Anthony T. Rinaldi, LLC d/a The Rinaldi Group and Anthony Rinaldi, (N.J. App. Div., Oct. 5, 2020) per curiam, is about whether the plaintiff was or is a member of the LLC, and the economic consequences of that determination.» Read More
The Great Plains Trust Company, Inc., was chartered in April 1994 by the State Bank Commissioner of Kansas to transact a general trust company business, (but was not chartered to nor did it) accept deposits. Its initial business was to “provide investment management services to employee benefit plans” (according to the Trust Company’s history on its website).» Read More
Banking, at least since the passage of the Federal Reserve Act in 1913 and the creation of Federal Deposit Insurance under the Glass-Steagall Act of 1933 (FDIC insurance actually became effective January 1, 1934), has been seen (at least in popular portrayals in books and movies) as a rather staid business conducted in marble edifices by men (although that is changing) who were reserved and rather aloof.» Read More
