U.S. financial regulators are looking at specific non-bank financial companies to possibly designate them as systemically important and subject to more rigorous supervision, said Michael Gibson, director of the Division of Banking Supervision and Regulation at the Federal Reserve Board.
Weil, Gotshal & Manges LLP acted as legal adviser to Thomas H. Lee Partners LP, which agreed to buy a majority stake in Party City Corp. from its private-equity owners in a transaction valued at $2.69 billion.
When Theodore Urban, general counsel at Ferris, Baker Watts Inc., spotted and questioned a broker’s suspicious trading patterns in 2007, he triggered a five-year probe by U.S. regulators who said he failed as a supervisor.
The U.S. military flew two unarmed B-52 bombers into a disputed air-defense zone claimed by China, the first test of China’s response amid escalating tensions in the region that have implications for international air travel.
The U.S. Securities and Exchange Commission’s review of how private equity firms value assets and market their funds is so far looking at mainly smaller firms, omitting some of the industry’s largest, publicly traded companies, said a person familiar with the inquiry.