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Inside Counsel

Goldman Sachs Executives Grilled: Five Headlines from Tuesday's Hearing

"Fabulous Fab" denied any fraud during a Senate hearing Tuesday.
1 minute read

Inside Counsel

Sen. Schumer Urges FTC to Set Social Networking Guidelines

The statement comes on the heels of new information-sharing policies at Facebook.
1 minute read

Inside Counsel

SEC Watched Porn Amid Financial Collapse

One attorney downloaded so much pornography that it filled his government-issued computer's hard drive, according to report.
1 minute read

Inside Counsel

Senators Will Introduce Climate Change Bill on Monday

Coalition of Senators Adds Politically Attractive Provisions
3 minute read

International Edition

Is there anything Goldman GC Gregory Palm isn't telling us?

Now that keeping secrets about an investor has landed Goldman Sachs in hot water with the Securities and Exchange Commission (SEC), a new disclosure issue has arisen. The question, in a nutshell, is: why didn't Goldman tell its investors that it was being investigated? In a conference call on Tuesday, Goldman general counsel Gregory Palm first defended the company against the SEC's fraud suit. He said Goldman was not legally required to disclose that an investor that helped choose a portfolio of subprime mortgage debt was taking a short position - meaning that the investor was betting the portfolio would lose money.
3 minute read

Inside Counsel

EPA Moves to Clear Saccharin of Hazardous Waste Label

The artificial sweetener has been on the EPA's hazardous waste list since the 1980s.
2 minute read

International Edition

DLA Piper appoints new managing partner in Paris office

DLA Piper has appointed Jean- Philippe Sorba to manage its Paris office, replacing Steven De Keyser, who has been acting as interim managing partner since 2009. Sorba has headed up DLA Piper's local litigation and regulatory group since joining the firm from Orrick Herrington & Sutcliffe in 2008. He will continue to act as group head until a replacement is found. His new role is effective as of 1 May.
2 minute read

International Edition

Goldman legal chief defends bank's actions after SEC fraud charge

The co-general counsel of Goldman Sachs has strongly defended his company, telling investors that the suit against the Wall Street giant took him by surprise, reports The Am Law Daily. Speaking in a conference call on Goldman's first quarter earnings report, Gregory Palm said his legal department spent the past 18 months talking and providing records to the Securities and Exchange Commission (SEC), but that the agency did not notify the company that it was filing suit last Friday (16 April).
3 minute read

Inside Counsel

DOJ and FTC Release Updated Merger Guidelines

The proposed guidelines give the agencies permission to follow different criteria for each merger examination.
2 minute read

International Edition

A&O and Sullivan win key roles as SEC charges Goldman with fraud

Sullivan & Cromwell and Allen & Overy (A&O) are taking key advisory roles after the US Securities and Exchange Commission (SEC) on Friday (16 April) filed a civil suit accusing Goldman Sachs of securities fraud. The suit, which claims Goldman created and sold a collateralised debt obligation (CDO) secretly designed to fail, is the first action by taken by regulators against those that capitalised on the collapse of the US housing market.
2 minute read

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