Following the failure of over 400 financial institutions since the beginning of 2008, the FDIC has clarified its expectations with respect to collection and retention of bank documents by directors and officers of troubled or failing financial institutions for the purpose of explaining or defending their conduct.
USA, Banking, Company & Commercial, Insolvency & Restructuring, Bryan Cave Leighton Paisner (Bryan Cave), Federal Deposit Insurance Corporation (USA)
The Supreme Court yesterday ruled that client money held in un-segregated accounts should be treated the same as client money held in segregated accounts, enabling un-segregated account holders to share in the client money pool on the insolvency of a firm with whom the account is held.
United Kingdom, Banking, Insolvency & Restructuring, Litigation, RPC, Lehman Brothers, MiFID, Supreme Court of the United States