Commissioner Invites Comments On Adopting New Custody Rule

Investment advisers frequently have custody, either directly or indirectly, of their clients' assets.  Obviously, custody of another's assets can lead to infidelity.  In the word's of the satirist Juvenal, the question necessarily becomes "sed quis...

Three Moms Alleged To Have "Socked It To" PTA Members

Several news stories appeared this week about three Southern California mothers who allegedly used their involvement in an elementary school PTA to solicit investors in a Ponzi scheme.  According to this press release issued by the Los Angeles...

Be Careful What You Say When Breaking Up

CalPERS Renews State Street Custody Contract

Privilege and Work-Product

Imagine that one attorney, let's call her Ms. Bennett, has a client, Ms. Austen.  Ms. Bennett, of course, speaks with Ms. Austen.  Suppose, however, that Ms. Bennett also speaks with another attorney in her firm, Mr. Darcy, about Ms. Austen's case. ...

Court Of Appeal Reaffirms Lender's Refusal To Loan To LLC Based On Felonious Investor In Manager

In May, I wrote this post about a decision by the Second District Court of Appeal finding that a lender did not violate California's Unruh Civil Rights Act when it declined to make a loan to a limited liability company whose managing member included...

You Know It's A Really Tough Regulatory Environment When . . .

In this letter sent last June, the writer commiserated:

Pipeline Pig Promise Produces No Prudhoe Pork For Plaintiff

What We've Got Here is A Failure to Pig 

Two Words To Add To Your Legal Vocabulary

Apparently, It's Ok To Argufy Before The Delaware Supreme Court

CalPERS/CalSTRS Set To Launch Director Database