The Treasury Department released new tax rules that make it easier for property owners to restructure loans that were packaged and sold as Commercial Mortgage Backed Securities. The IRS passed relief for residential mortgage packed securities in May, 2008. Until now, tax rules have made it impossible for borrowers who are not in default to [...]
Archive | September, 2009
Corporate and Financial Institution Compensation Fairness Act of 2009
I had largely ignored the Corporate and Financial Institution Compensation Fairness Act of 2009 (H. R. 3269) thinking it was limited to public companies and banks. I was surprised to find that it also sweeps up investment advisers, and therefore private investment funds, with assets greater than $1 billion. The bill does focus mostly on [...]
Dogbert on Executive Compensation
I wonder if the SEC is thinking about using hobos as part of its “Say on Pay” regulations?
The Collapse of AIG
There have been many stories about the collapse of AIG. There have also been many stories about the internal flaws at AIG. The pitchforks were out when bonuses were announced in March. One of those executives was Jake DeSantis who wrote a New York Times OP-ED about his bonus. (AIG Bonus – My Thoughts) It [...]
FCPA Conviction
Gerald Green and Patricia Green, Los Angeles-area film executives, were found guilty of conspiracy to violate the Foreign Corrupt Practices Act and money laundering laws of the United States, as well as substantive violations of the FCPA and U.S. money laundering laws. The verdict was handed down late on Friday. The Greens were charged by the [...]
The Ins and Outs of CFIUS Filing
The Foreign Investment and National Security Act of 2007 applies to takeovers of U.S. businesses by non-U.S. persons. That law formalized the Committee on Foreign Investment in the United States to review foreign investments that could impair national security Back in November, I was looking at how the new CFIUS regulations would affect real estate [...]
Piracy or Obscurity
“Of all the people who didn’t buy one of my book’s today, the majority of them didn’t buy it because they never heard of me, not because someone gave them a free copy.” – Cory Doctorow from an interview in a recent issue of the Harvard Business Review
How NOT to Run a Safety Drill
Running drills is important. Experience with adverse circumstances is important so that you and your co-workers know what to do if there is a problem. Drills are especially important for dangerous circumstances. There is a reason that building managers, schools and other institutions run fire drills. If there is an actual fire, you will know [...]
Madoff Hearing at the Senate Banking Committee
I will be covering today’s Senate Hearing (”Oversight of the SEC’s Failure to Identify the Bernard L. Madoff Ponzi Scheme and How to Improve SEC Performance“) along with several guest panelists via the interactive discussion below. Please visit this page today at 2:30 pm to join me, Bruce Carton of Securities Docket, Compliance Week editor [...]
The SEC’s Madoff Report
The SEC decided to take a look at how it failed to uncover the Madoff fraud. The SEC’s Inspector General has been running an investigation and compiling information. The SEC Inspector General, H. David Kotz, released a public version of their report on August 31: Investigation of Failure of the SEC to Uncover Bernard Madoff’s [...]
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