Judge orders SEC to stop dawdling on disclosure rule
By Sheri Qualters, from The National Law Journal A Boston federal judge ordered the U.S. Securities and Exchange Commission to speed up rulemaking that will require energy companies to disclose their payments to governments in exchange for commercial development of…
Airline seats antitrust case heads for takeoff
By Sue Reisinger, From Corporate Counsel More than 75 class action lawsuits have been filed across the country so far against the four major airlines that are the targets of an antitrust investigation by the Department of Justice, which is…
Cayman Islands: Caledonian Story: Offshore banking group brought down by long arm reach of the SEC
By Ian Huskisson From Travers Thorp Alberga Ian Huskisson from Travers Thorp Alberga in the Cayman Islands discusses the recent demise of the Caledonian offshore banking group as a result of “incredible government overreach” by the Securities and Exchange Commission….
Cayman Islands Stingray Swim Club appoints new head coach
From Stingray Swim Club David Craig Pursley Coach From the time Coach David was born he has been immersed in swimming. Growing up his father was a U.S. Olympic Team coach and national team director. His mother was a world…
Marijuana growers sprout on Wall Street as pot goes public
By Andy Fixmer From Mashable Derek Peterson may soon become the first CEO of a public company that cultivates, distributes and sells marijuana. Terra Tech Corp., based in Irvine, California, won approval last week from the Securities and Exchange Commission…
The Editor Speaks: What steps are being taken in Cayman to make directors more accountable?
I am asking this question more especially to the hedge fund boards. There is a tightening up of the banking rules in other financial jurisdictions but I haven’t heard of anything being proposed here in the Cayman Islands. In a…
Years after $62 million judgment, Paul Bilzerian is alive and well on Caribbean island
By Robert Trigaux From Tampa Bay Times Those around long enough in Tampa Bay might recall disgraced corporate raider Paul Bilzerian as the maverick who made millions and built a 10-bedroom castle with an indoor basketball court in Tampa’s tony…
SEC Adopts Credit-Rating Reforms
By Jenna Greene, The National Law Journal A divided U.S. Securities and Exchange Commission last week adopted new rules for credit-rating agencies, stepping up review and disclosure requirements and adding safeguards to prevent sales and marketing considerations from influencing the…
Citigroup Endorses Revamp of U.S. Stock Exchange Trading Fees
By Doni Bloomfield From Bloomberg Citigroup Inc. (C), the third-biggest U.S. bank, told regulators they could steer more stock trading to public exchanges by making it more affordable. The bank suggested the U.S. Securities and Exchange Commission cut the highest…
Two former Cay Clubs executives arrested in Central America, accused of lying to the feds, among other things
From KEYSINFONET Two principals in the former Key Largo-based Cay Clubs Resorts and Marinas, which the U.S. Securities and Exchange Commission says was a $300 million Ponzi scheme that bilked 1,400 investors, have been arrested in Central America and returned…
