The Bernard Madoff brokerage liquidator appealed a federal judge’s ruling that blocked his move to stop New York Attorney General Eric Schneiderman from completing a $410 million settlement with J. Ezra Merkin.
HSBC Holdings Plc, custodian of a fund that lost about 1.1 billion euros ($1.5 billion) through Bernard Madoff’s Ponzi scheme, said liability rules for banks in Europe weren’t as strict at the time of the scandal surrounding the convicted fraudster.
Morrison & Foerster LLP announced leadership changes, appointing San Francisco partner Brandon Parris and Tokyo partner Randy Laxer as co-chairmen of the corporate department and New York partner Gary Lee and Tokyo partner Dale Caldwell to lead the finance group.
Across the Standard & Poor’s 500 Index of companies, the average multiple of CEO compensation to that of rank-and-file workers is 204, up 20 percent since 2009, according to data compiled by Bloomberg. The numbers are based on industry-specific estimates for worker compensation.
New York Attorney General Eric Schneiderman can go forward with a $410 million settlement with J. Ezra Merkin, using his law enforcement powers to compensate Merkin investors whose money was lost in Bernard Madoff’s Ponzi scheme, a judge ruled.
Mary Jo White, the first former prosecutor to serve as chairman of the U.S. Securities and Exchange Commission, has pledged to run a “bold and unrelenting” enforcement program at the agency charged with regulating Wall Street.