Daily Archives: June 21, 2013, 11:03 am

Senate bank panel sets confirmation hearing for SEC nominees — Reuters

The Senate Banking Committee will hold a confirmation hearing on June 27 for President Barack Obama’s two nominees to serve on the U.S. Securities and Exchange Commission, the committee announced on Thursday. Kara Stein, a Democrat, and Michael Piwowar, a Republican, would replace SEC commissioners Elisse Walter and Troy Paredes, respectively. via Senate bank panel sets confirmation hearing for SEC…

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Circuit: Picard Lacks Standing to Sue Banks for Aiding Fraud — New York Law Journal

The trustee overseeing recovery efforts on behalf of victims in the Bernard Madoff multi-billion dollar Ponzi scheme does not have standing to sue financial institutions for aiding and abetting the fraud, the U.S. Court of Appeals for the Second Circuit ruled. The circuit rejected the appeal of Securities Investor Protection Act (SIPA) trustee Irving Picard from the dismissal of four…

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