Without admitting guilt, Citigroup will pay $75 million to settle federal civil claims that it failed to disclose vast holdings of subprime mortgage investments that crippled the bank during the financial crisis. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former counsel to the Federal Reserve Board […]
July 28, 2010 at 11:52 am
Intense lobbying is under way over the Dodd-Frank financial regulatory reform act, with federal agencies needing to fill in the details of at least 243 financial rules and conduct 67 studies before implementing the most sweeping such law since the 1930s. Political science Professor Graham Wilson, author of “Business and Politics,” says citizens should be […]
With the Senate finally passing the complex financial regulatory reform law and sending it to President Obama for his signature, the work now turns to the hundreds of regulations and dozens of studies which must be completed to implement the most sweeping financial reform since the Great Depression. But while regulators work on all of […]
The Supreme Court restricted a favorite tool for pursuing corrupt politicians and self-dealing corporate chiefs, ruling that the law that makes it a crime to deprive the public or one’s employer of the “intangible right of honest services” can only be used where they could prove defendants accepted bribes or kickbacks. It means, for instance, that […]
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Tagged Boston University School of Law, BU LAW, BU Law School, CEO Jeff Skilling, Conrad Black, Elizabeth Nowicki, Enron, honest services law, intangible right of honest services, Jeffrey Skilling, Justice Sonia Sotomayor, SEC, Supreme Court, Wall Street
June 15, 2010 at 11:16 am
It’s all BP all the time in Washington this week. After President Obama addresses the nation Wednesday on the BP oil spill situation, company executives on Thursday face a Congressional hearing on the matter. Visiting law Professor Elizabeth Nowicki, both a former SEC and Wall Street attorney, says BP CEO Tony Hayward would be well-served to remember […]
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Tagged Boston University, BP, BP CEO, BP oil spill, BU Law School, Business and Politics, CEO, Congress, Deepwater Horizon oil spill, Elizabeth Nowicki, Graham Wilson, Political Science, President Obama, SEC, Tony Hayward, Wall Street
Dell is in settlement talks with the Securities and Exchange Commission to resolve allegations that its founder/CEO Michael Dell engaged in financial irregularities related to Dell’s dealings with chip-maker Intel — with no admission of guilt or bar of Dell from service as an officer or a public company. Visiting law Professor Elizabeth Nowicki, a […]
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Tagged Attorney General, BU Law School, CEO, Dell, Elizabeth Nowicki, Intel, Michael Dell, New York, New York's attorney general, SEC, Securities and Exchange Commission, Wall Street
The Congressionally sponsored bipartisan Financial Crisis Inquiry Commission now has cast its eyes on the credit-rating agencies and the impact they may have had on the Great Crash of 2008. Law Professor Elizabeth Nowicki, a veteran attorney from both Wall Street and the Securities and Exchange Commission, says the agencies are both hopelessly plagued by […]
In an effort to avoid a repeat of the May 6th “flash crash” when computerized trading markets tumbled out of control, the Securities and Exchange Commission has voted unanimously to require audit trails to cover all trading orders from start to finish. Visiting Law Professor Elizabeth Nowicki, a former SEC and Wall Street attorney, says the […]
April 21, 2010 at 12:23 pm
On the heels of the SEC suing Goldman Sachs for fraud, key Senate Republicans are easing up on earlier harsh criticism of financial regulatory reform bills offered by the Democrats. Political science Professor Graham Wilson, author of “Only in America? American Politics in Comparative Perspective,” says the shift makes political sense. “The political costs of […]
April 16, 2010 at 1:59 pm
The SEC alleges Goldman Sachs defrauded investors by marketing an investment backed by sub-prime loans without telling them that a big hedge fund was on the other side betting that it would fail — which it did. Law Professors Cornelius Hurley, a former counsel to the Fed Board of Governors, and Elizabeth Nowicki, a former SEC […]
