Financial Services & Banking

  • Daily Business Review

    Good News For Lenders Overcoming Hearsay Objections

    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.

    1 minute read

  • Delaware Business Court Insider

    Judge Tosses Derivative Suit Over 'Excessive' Director Compensation

    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.

    1 minute read

  • The Recorder

    Calif. Justices Duck Big Question in Key Arbitration Battle

    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.

    1 minute read

  • Legaltech News

    Fintech Innovation Too Quick for Some Outside Counsel

    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.

    1 minute read

  • Corporate Counsel

    Fintech Innovation Too Quick for Some Outside Counsel

    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."

    1 minute read

  • National Law Journal

    'Time Flies When You're Having Fun,' CFPB's Cordray Tells Republicans

    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.

    1 minute read

  • Corporate Counsel

    SEC Is Saying Goodbye to FCPA Chief Brockmeyer

    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.

    1 minute read

  • The Legal Intelligencer

    Obermayer Says Ex-Associate Can't Sue Over 'Intangible' Bonus Credits

    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.

    1 minute read

  • New York Law Journal

    In Arab Bank Case, SCOTUS Likely to Revisit 2013 Ruling

    By Andrew Denney | April 5, 2017

    In deciding whether corporations can be held liable for human rights abuses abroad under the Alien Tort Statute in 'Jesner v. Arab Bank,' the U.S. Supreme Court will likely need to take another look at its narrow decision in 'Kiobel v. Royal Dutch Petroleum' and decide whether it's time to expand on it.

    1 minute read

  • Daily Business Review

    Cleary Advises on Latin America Deals

    By Monika Gonzalez Mesa | April 5, 2017

    In one of the deals, the firm advised two Chilean companies. In the other, it advised the Mexican government.

    1 minute read

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