Effort to protect investors irks muni-bond lawyers: SEC regulators confront a critical audience at the National Association of Bond Lawyers' conference
Article Abstract:
Bond lawyers have become increasingly skeptical about Securities and Exchange Commission regulations and seemed both nervous and irritated at their recent national conference. The SEC, under Arthur Levitt Jr's leadership, has sought to enhance investor confidence through a series of measures. These would require bond issuers to notify the marketplace of certain events, bar bond lawyers from making many political contributions, and force underwriters to disclose their relationships with consultants, all moves opposed by the Natl Ass'n of Bond Lawyers.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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Muni fraud prosecutions: searching for a victim; after mixed results in trials of finance professionals, jurors ask, 'if everyone makes money, what's the problem?'
Article Abstract:
The federal government has won two and lost one in recent prosecutions of fraud among municipal bond traders. Former Lazard Freres partner Mark S. Ferber was convicted of fraud and corrupt municipal bond deals for failing to disclose a $1 mil secret fee from Merrill, Lynch and Co. His defense was his contract's confidentiality provisions which he said kept him from revealing all but the most basic part's of Lazard's connection with Merrill. The SEC sdtates that prosecutorial work has helped improve the ethics of the municipal bond industry.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
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Lawyers blamed for lies; admitted New York scam artist is betting on the advice-of-counsel defense
Article Abstract:
Bill collector Steven N. Hoffenberg, who made a brief attempt to save the New York Post in 1993, is blaming his lawyers for lies he told that allegedly led to the withdrawal of a leniency agreement with federal prosecutors. Hoffenberg faces a prison sentence of up to 25 years for fraud and conspiracy. Prosecutors say the leniency agreement was revoked because Hoffenberg did not tell the truth about his association with Diversified Credit Corp., while Hoffenberg is proposing an advice-of-counsel defense.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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