Goldman Allowed to Keep Issuing Securities
Breaking Legal News
Goldman Sachs will remain qualified as an issuer of securities after settling civil fraud charges with the Securities and Exchange Commission this month, the agency ruled.
In a letter to Goldman’s legal counsel at the law firm Sullivan & Cromwell, the S.E.C. said that the settlement cleared a path for the firm to continue issuing securities under federal regulations.
As one of the world’s largest securities issuers, Goldman would have been placed into a tough spot if the S.E.C. had enjoined the firm from that business.
Under federal securities laws (and specifically Rule 405), the commission can deem a firm an “ineligible issuer” if within the past three years the brokerage had broken S.E.C. regulations.
Goldman’s settlement, announced almost two weeks ago, included the firm’s paying $550 million and admitting to mistakes in its marketing materials. What it didn’t do was require the firm to admit to wrongdoing alleged by the S.E.C. regarding a mortgage-linked investment.
Related listings
-
Court grants bail to jailed ex-media mogul Black
Breaking Legal News 07/20/2010Conrad Black, the brash former newspaper magnate who lived extravagantly before his 2007 federal conviction for defrauding shareholders, may soon be released from a Florida prison after a federal appeals court granted him bail Monday.The ruling from ...
-
Self Representation Hurting Individual Cases, Courts, Say Judges
Breaking Legal News 07/12/2010In a survey released today by the American Bar Association, judges indicated that a lack of representation in civil matters is hurting those individuals’ cases, and is negatively impacting courtrooms. Approximately 1,000 state trial judges responded ...
-
Ore. trial court to reconsider $100M tobacco case
Breaking Legal News 06/28/2010The Oregon Supreme Court has ruled that Philip Morris does not have to pay $100 million in punitive damages to the family of a smoker who sued the tobacco giant over its low-tar cigarettes.The case, however, is going to another jury to decide just ho...
Lawyer Website Design For Sole Practitioners - Law Promo
Law Promo understands that running a solo law practice can be a difficult undertaking at any stage, especially if you are just starting up your practice.
The most challenging part of running any solo business can be managing each and every aspect, especially those areas in which you have less experience. Marketing is often one of the weakest areas for small businesses and yet is the most important in ensuring business growth.
A solid internet marketing campaign is crucial, as it can level the playing field between you and larger firms and is by far the most cost effective way to attract more clients.