×

Commercial and Professional Services Professional Services

  • WASHINGTON, March 23- Jay Clayton, the Wall Street attorney tapped by President Donald Trump to lead the U.S. Securities and Exchange Commission, on Thursday defended himself against Democrats' charges that multiple conflicts of interest would force him to miss too many SEC votes. Clayton, a partner at elite law firm Sullivan& Cromwell, is expected to win...

  • WASHINGTON, March 23- Jay Clayton, the Wall Street attorney tapped by President Donald Trump to lead the U.S. Securities and Exchange Commission, on Thursday defended himself against Democrats' charges that multiple conflicts of interest would force him to miss too many SEC votes. Clayton, a partner at elite law firm Sullivan& Cromwell, is expected to win...

  • WASHINGTON, March 23- Jay Clayton, the Wall Street attorney tapped by President Donald Trump to lead the U.S. Securities and Exchange Commission, on Thursday defended himself against Democrats' charges that multiple conflicts of interest would force him to miss too many SEC votes. Clayton, a partner at elite commercial law firm Sullivan& Cromwell, is expected to...

  • NEW YORK— The trial between bankrupt brokerage MF Global, run by former New Jersey Governor Jon Corzine, and its former accounting firm, PwC, came to an unceremonious end on Thursday, with both parties saying they have reached a settlement. The trial, in the U.S. District Court of the Southern District of New York, was supposed to last five weeks. At the center of the...

  • HONG KONG, March 23- China has made it mandatory for mainland cornerstone investors in Hong Kong IPOs to repatriate funds when they sell their shares, a rule likely to hit smaller, cornerstone-reliant listings, four people with knowledge of the matter told Reuters. The State Administration of Foreign Exchange has informed investment bankers and lawyers of the...

  • WASHINGTON, March 22- Jay Clayton, President Donald Trump's nominee to chair the U.S. Securities and Exchange Commission, plans to promise lawmakers at his confirmation hearing on Thursday not to shy away from going after fraudsters. Clayton, a partner at the law firm Sullivan& Cromwell who Trump picked to head the federal regulator that polices and writes rules...

  • As SEC chairman, Clayton would be in charge of, among other things, protecting investors from wrongdoing on Wall Street. He would oversee the enforcement of rules written by the SEC under the law that reshaped the regulation of banks and Wall Street after the 2008 financial crisis and the Great Recession. And he would take part in deciding on enforcement actions...

  • *Talks over settlement with hold-out shareholder group. LONDON, March 17- Lawyers representing tens of thousands of Royal Bank of Scotland shareholders have held tentative talks to settle a 1.2 billion pound damages claim over the lender's 2008 rights issue that was launched shortly before a state bailout, two sources said. One of the investors backing those...

  • *Talks over settlement with hold-out shareholder group. LONDON, March 17- Lawyers representing tens of thousands of Royal Bank of Scotland shareholders have held tentative talks to settle a 1.2 billion pound damages claim over the lender's 2008 rights issue that was launched shortly before a state bailout, two sources said. One of the investors backing those...

  • *Deal worth $4.3 billion, including debt. March 17- Private equity firm KKR& Co LP and Canadian pension fund Caisse de dépôt et placement du Québec announced plans on Friday to buy USI Insurance Services from Onex Corp for $4.3 billion, including debt. "It's a sector we like," Caisse Chief Investment Officer Roland Lescure said in an interview.

  • March 17- Private equity firm KKR and Canadian pension fund Caisse de dépôt et placement du Québec agreed to buy USI Insurance Services from Onex Corp in a $4.3 billion deal, including debt. Valhalla, New York- based USI had net debt of about $1.82 billion as of Dec. 31 and generated earnings before interest, taxes, depreciation and amortization of $353 million in...

  • March 17- Private equity firm KKR and Canadian pension fund Caisse de dépôt et placement du Québec agreed to buy USI Insurance Services from Onex Corp in a deal valuing the insurance brokerage at $4.3 billion.

  • By Andrew MacAskill and Kirstin Ridley. LONDON, March 17- Lawyers representing tens of thousands of Royal Bank of Scotland shareholders have held tentative talks to settle a 1.2 billion pound damages claim over the lender's 2008 rights issue that was launched shortly before a state bailout, two sources said. It would also spare RBS, which is still more than 70...

  • PEORIA, Ill.— Caterpillar Inc. is hiring a former U.S. attorney general to help it sort out matters that sparked a federal raid on its headquarters in central Illinois. He'll help Caterpillar review and address issues relating to Caterpillar SARL, a Swiss parts subsidiary, and tax-saving practices. Caterpillar is based in Peoria, Illinois.

  • New York Attorney General Eric Schneiderman, who is investigating whether Exxon misled shareholders and the public about climate change, wrote to a judge on Monday accusing Exxon of not previously disclosing the alias and Tillerson's communications through it. "Obtaining publicity, not information, appears to have been the real goal of the New York Attorney...

  • Secretary of State Rex Tillerson's use of an alias email address while he was chief executive officer at Exxon Mobil Corp was "entirely proper," attorneys representing the company said in a letter to a New York court on Thursday. New York Attorney General Eric Schneiderman, who is investigating whether Exxon misled shareholders and the public about climate...

  • Secretary of State Rex Tillerson's use of an alias email address while he was chief executive officer at Exxon Mobil Corp was "entirely proper," attorneys representing the company said in a letter to a New York court on Thursday. New York Attorney General Eric Schneiderman, who is investigating whether Exxon misled shareholders and the public about climate...

  • *Munich prosecutor searched Jones Day offices Wednesday. The law firm, Jones Day, declined to comment. Jones Day was searched on the same day as Volkswagen's premium brand Audi's headquarters were searched, in a sign prosecutors are stepping up efforts to find who was responsible for- and who may have known about- the biggest business crisis in the 80- year-old...

  • *Munich prosecutor searched Jones Day offices Wednesday. The law firm, Jones Day, declined to comment. VW has never published the full findings of Jones Day, although a summary was handed to the U.S. Department of Justice, which earlier this year forced VW to pay a $4.3 billion settlement to resolve its pollution troubles.

  • Robert Schulman, who worked at the time at Hunton& Williams in Washington, D.C., was convicted of securities fraud and conspiracy jurors in Brooklyn federal court after about 4-1/ 2 hours of deliberations. Schulman, of McLean, Virginia, was a partner at the law firm Arent Fox in Washington, D.C. at the time of his arrest last August, and was later put on leave.