With young people lured by the higher salaries and lower entry requirements of finance and technology, the number of people taking the CPA exam run by the institute has fallen sharply, and accounting firms have demanded reforms to make it cheaper and quicker to get qualified. In a wide-ranging interview with the Financial Times, Melancon expressed scepticism about some of…
The 10th and final distribution from a fund for victims of the late Ponzi scheme king Bernie Madoff began Monday, the Department of Justice said. The last disbursement, of more than $131 million, is being sent to more than 23,000 victims worldwide. When it is completed, more than $4.3 billion will have been distributed by the fund to more than…
A record number of senior lawyers moved jobs in London this year as the arrival of US law firms in the capital continues to disrupt the market and fuel pay wars for talent. Law firms made 546 partner hires in London over the year to December 23, according to data from legal recruiter Edwards Gibson and shared with the Financial…
Historically, business groups have criticised plaintiffs’ lawyers for seeking out friendly judges and juries for large damages claims, and liberal public interest groups often filed their challenges to the first Trump administration in states and circuit courts with more Democratic appointees. But in recent years, powerful industry groups have done some of the most visible manoeuvring by finding ways to…
Until recently, banks watched from the sidelines with envy as stablecoin market leader Tether Holdings boasted of billions in profits. Now they want in. Earlier this year, Societe Generale – Forge made its Euro-backed stablecoin — which basically represents fiat on a blockchain ledger — available to retail investors. Financial group Oddo BHF SCA is also working on a Euro-denominated…
If DOGE is to avoid the fate of prior blue-ribbon commissions and panels with a similar goal, it should begin with the low-hanging fruit and encourage Congress to merge the SEC and CFTC before taking up a crypto market structure bill. DOGE would have an ally in this effort in Paul Atkins, Mr. Trump’s nominee to lead the SEC. Testifying…
The Securities and Exchange Commission is ramping up enforcement activity in the final weeks of 2024, announcing settlements or charges in at least seven matters in the past week alone. The activity has sent work to nearly a dozen Big Law firms that have been retained as defense counsel. Paul, Weiss, Rifkind, Wharton & Garrison; Fenwick & West; Goodwin Proctor;…
Morvillo Abramowitz Grand Iason & Anello P.C. is proud to announce the addition of Lisa Zornberg, a leading practitioner and former Chief of the Criminal Division of the United States Attorney’s Office for the Southern District of New York. Ms. Zornberg, known for her skills as an advocate and her effectiveness in court, will join as a partner on March…
President-elect Donald Trump’s pick to police Wall Street and corporate America is poised to focus on enforcement actions against individual executives and to roll back Biden-era regulations, sparking more private litigation against companies and their leadership—and, often, leaving insurers on the hook. “It’s potentially just open season on government regulation,” said Bradley Dlatt, a Perkins Coie attorney who represents corporate…
Hiring good people for compliance departments is getting harder as young professionals increasingly gravitate toward business careers with more curb appeal. Many in the sector say it is a struggle to hire top early-career professionals, in part because of its emphasis on helping companies stay ahead of legal requirements. It is also a grind to recruit young professionals with the…