Goldman Allowed to Keep Issuing Securities
Headline Legal News
Goldman Sachs will remain qualified as an issuer of securities after settling civil fraud charges with the Securities and Exchange Commission this month, the agency ruled.
In a letter to Goldman’s legal counsel at the law firm Sullivan & Cromwell, the S.E.C. said that the settlement cleared a path for the firm to continue issuing securities under federal regulations.
As one of the world’s largest securities issuers, Goldman would have been placed into a tough spot if the S.E.C. had enjoined the firm from that business.
Under federal securities laws (and specifically Rule 405), the commission can deem a firm an “ineligible issuer” if within the past three years the brokerage had broken S.E.C. regulations.
Goldman’s settlement, announced almost two weeks ago, included the firm’s paying $550 million and admitting to mistakes in its marketing materials. What it didn’t do was require the firm to admit to wrongdoing alleged by the S.E.C. regarding a mortgage-linked investment.
Related listings
-
Court grants bail to jailed ex-media mogul Black
Headline Legal News 07/20/2010Conrad Black, the brash former newspaper magnate who lived extravagantly before his 2007 federal conviction for defrauding shareholders, may soon be released from a Florida prison after a federal appeals court granted him bail Monday.The ruling from ...
-
Self Representation Hurting Individual Cases, Courts, Say Judges
Headline Legal News 07/12/2010In a survey released today by the American Bar Association, judges indicated that a lack of representation in civil matters is hurting those individuals’ cases, and is negatively impacting courtrooms. Approximately 1,000 state trial judges responded ...
-
Ore. trial court to reconsider $100M tobacco case
Headline Legal News 06/28/2010The Oregon Supreme Court has ruled that Philip Morris does not have to pay $100 million in punitive damages to the family of a smoker who sued the tobacco giant over its low-tar cigarettes.The case, however, is going to another jury to decide just ho...
Our Eugene Oregon Bankruptcy Practice
Since 2005, Erin Uhlemann has helped individuals and families facing financial difficulties file for bankruptcy relief. Erin's compassion and understanding of the law have helped hundreds of Oregonians achieve a financial fresh start. She started Willamette Valley Bankruptcy to focus on helping clients with bankruptcy and debt issues in the Lane County Area. Erin understands that choosing a bankruptcy attorney who makes you feel comfortable and confident can be as difficult as deciding whether to file a bankruptcy case. Because she knows that filing bankruptcy is not something that you planned to do or look forward to doing, Erin strives to make the process as easy as possible.
Because most people facing bankruptcy do not have extra money to pay fees, Willamette Valley Bankruptcy offers low upfront fees and will work with you to set up affordable payment plans to pay attorney fees and court filing fees. Consultations are always free so that you can get the answers you need before making any sort of financial commitment. If you have questions about attorney fees and payment plans, you can call or email today to get these questions answered.