Doug Cornelius on compliance for private equity real estate
Bernie Madoff filed past a sea of reporters and camera flashes to enter his guilty plea in front of Judge Denny Chin. Several victims spoke, asking the judge to reject the plea and force a trial. They want grueling trial to make Madoff suffer and to bring more facts out to the public. Since he … Continue reading “Madoff Goes From His Penthouse to the Big House”
On Sunday night, 60 Minutes aired an interview with Harry Markopolos: The Man Who Figured Out Madoff’s Scheme. Last month, Markopolos supplied similar information to a Congressional panel. By its vary nature, the SEC does not stop a financial crime until happens. As with all prosecutions, the bad act needs to happen before there is … Continue reading “Madoff and Markopolos on 60 Minutes”
Freakonomics ran a contest for the best definition for Bernie Madoff in limerick form. They had special guest judge Chris J. Strolin, founder and editor-in-chief of The Omnificent English Dictionary In Limerick Form announce The Winning Definition of “Madoff,” in Limerick Form. The best of the best was #98 by sqlman: His investments’ ascent: like … Continue reading “Madoff in Limerick Form”
On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing on the background and implications of the Madoff scandal: Madoff Investment Securities Fraud: Regulatory and Oversight Concerns and the Need for Reform. Video Archive Member Statements Senator Christopher J. Dodd Witness Testimony Professor John C. Coffee, Adolf A. Berle Professor … Continue reading “U.S. Senate Hears About Madoff”
On January 2, 2009, the trustee charged with liquidating Bernard Madoff Investment Securities, LLC issued a notice outlining the requirements for filing SIPC claims. Notice of Commencement of Liquidation Proceeding for Madoff Investment Securities Anyone having a claim or potential claim against BMIS should read that notice. It provides that customers of BMIS must file … Continue reading “Madoff Liquidation and Suits Filed Against Madoff”
This post contains my notes from the webinar: Madoff Litigation: Can the Lost Billions be Recovered? How? The Webinar was sponsored by NERA Economic Consulting and produced by The Securities Docket. The slides are available on Securities Docket.com: Materials from Madoff Litigation Webcast. Brad Friedman of Milberg LLP Gerald Silk of Bernstein Litowitz Berger & … Continue reading “Madoff Litigation: Can the Lost Billions be Recovered? How?”
Bob Ivry, Saijel Kishan and Ian Katz look into their crystal ball at Bloomberg: Hedge Funds Concede Oversight Inevitability in Wake of Madoff. Narrowing the exemptions from registration under the Investment Advisers Act? More whisteblower protection? Segregation of the investment advisory and custody roles? More disclosure requirements? Minimum capital standards? Borrowing ratio limitations?
Gregory Zuckerman of the Wall Street Journal put together a story on the Multiple Red Flags in Madoff Case. Steady returns in every kind of market Operated as a broker dealer with an asset management division. Why not simply act as a hedge fund and pocket big gains, rather than profit from trading commissions. “Why … Continue reading “Red Flags in the Madoff Case”
Return Time. Back to the office. Back to school for the kids. And back to blogging more regularly. These are some of the compliance-related stories that recently caught my attention. In Silicon Valley, Criminal Prosecutors See No Evilby David StretifeldThe New York Times Federal prosecutors in Northern California took on only 57 white-collar crime cases … Continue reading “Compliance Bricks and Mortar for September 10”
These are some of the compliance related stories that caught my attention. SEC Provides Conditional Regulatory Relief and Assistance for Companies Affected by the Coronavirus Disease 2019 (COVID-19) Securities and Exchange Commission announced that it is providing conditional regulatory relief for certain publicly traded company filing obligations under the federal securities laws. The impacts of the … Continue reading “Compliance Bricks and Mortar for March 6”
