By C. Ryan Barber | April 10, 2017
Shearman & Sterling's report on the Wells Fargo sham-accounts scandal didn't hold any punches. And the bank's law department didn't escape scrutiny. The report found the law department "did not appreciate that sales integrity issues reflected a systemic breakdown in Wells Fargo's culture and values and an ongoing failure to correct the widespread breaches of trust in the misuse of customers' personal data and financial information." Wells Fargo CEO Tim Sloan said the report provides a new opportunity to "learn from our mistakes."
1 minute read
By Lizzy McLellan | April 10, 2017
More and more women are winning leadership roles at their firms in mergers and acquisitions and private equity. But plenty of obstacles to gender parity remain.
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By Samantha Joseph | April 10, 2017
A ruling from the Fourth District Court of Appeal clarifies that a witness authenticating business records doesn't have to have prepared those documents in order to survive defense efforts to characterize the evidence as inadmissible hearsay.
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Delaware Business Court Insider
By Tom McParland | April 6, 2017
The Delaware Court of Chancery has dismissed a derivative suit accusing Investors Bancorp Inc. directors of giving themselves a "grossly excessive" compensation hike following the firm's mutual-to-stock public offering.
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By Amanda Bronstad | April 6, 2017
A ruling Thursday from the California Supreme Court means an arbitration exemption that's unpopular with corporate defendants will live another day.
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By Stephanie Forshee | April 6, 2017
“Not all lawyers were familiar with, or interested in, the intersection of technology and the rules and regulations that govern us as an investment adviser and broker-dealer,” says one GC.
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By Stephanie Forshee | April 5, 2017
Some fintech startups are innovating so quickly that it's hard for outside counsel to keep up. Ben Alden, general counsel for personal finance startup Betterment in New York, has hired many firms that he ultimately parted ways with before finding the right outside counsel who understood the company, which offers automated investing, or "robo-advising."
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By C. Ryan Barber | April 5, 2017
Republicans on Wednesday seized on their first chance chance to confront CFPB Director Richard Cordray since the November election, stepping up their calls for the director to be fired or to step down willingly—perhaps to pursue his rumored interest in the Ohio governor's race. Cordray's appearance on Capitol Hill was also the first since an appeals court, ruling for the mortgage lender PHH Corp., said the CFPB's single-director scheme is unconstitutionally structured.
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By Sue Reisinger | April 5, 2017
Kara Brockmeyer, chief of enforcement for the Foreign Corrupt Practices Act and 17-year-veteran at the SEC, is leaving the agency at a time when the new administration is looking at how it might change enforcement of bribery laws.
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By Lizzy McLellan | April 5, 2017
In response to a former associate's lawsuit over bonuses, Obermayer Rebmann Maxwell & Hippel is countering that its associate bonuses are discretionary, and the credits it uses to calculate bonuses don't amount to "tangible" property.
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