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February 11, 2013
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Legal News in Brief

  Corporate Spotlight 
  • Gelber Group faces $750,000 in CFTC fines over trades
    The Commodity Futures Trading Commission, citing fake trades made on the IntercontinentalExchange and the Chicago Mercantile Exchange, has fined futures-trading firm Gelber Group. The penalty is $750,000, and one of Gelber's proprietary traders was said to be involved. A former Gelber manager was fined $200,000 in a separate matter. Crain's Chicago Business (2/8) LinkedInFacebookTwitterEmail this Story
  National News 
  • Trade data indicate Q4 growth in U.S.
    A Commerce Department announcement that the U.S. trade deficit in December sank to its lowest point in three years likely means that gross domestic product rose slightly in the fourth quarter. The government recently announced it had estimated a 0.1% drop in GDP. "Trade data for December paint a reassuring and encouraging picture of the U.S. economy at the end of last year," said Chris Williamson, Markit Group's chief economist. Reuters (2/8) LinkedInFacebookTwitterEmail this Story
  Legislative Dispatch 
  • Rep. Wyden won't partner again with Rep. Ryan on Medicare
    Sen. Ron Wyden, D-Ore., says he will not collaborate on a new Medicare reform bill with Rep. Paul Ryan, R-Wis. The two lawmakers in 2011 floated a plan that would have allowed seniors to choose between a subsidy to pay for private insurance and standard Medicare. "House Republicans couldn't even deliver enough of their own votes for the white paper," Wyden said. "Now they've moved even further away from Democrats on Medicare." The Hill/Healthwatch blog (2/10) LinkedInFacebookTwitterEmail this Story
  Employment Focus 
  • U.S. jobless claims tick down; consumer confidence improves
    The slow hiring pattern in the U.S. continued last week as reflected in a small decline in the number of Americans filing initial claims for jobless benefits. Consumer confidence, however, picked up during the week for the first uptick since higher payroll taxes came into effect at the beginning of the year, according to the Bloomberg Consumer Comfort Index. CNNMoney (2/7), Bloomberg (2/7) LinkedInFacebookTwitterEmail this Story
  Supreme Court and Federal Court Watch 
  • SEC-Citi settlement case goes before appeals court
    A push by the Securities and Exchange Commission and Citigroup for reinstatement of a mortgage-bond settlement that was rejected by a federal judge in 2011 went before an appeals court last week, with hints from judges toward calling for a new settlement. The original case relates to Citi allegedly not revealing conflicts of interest while selling a mortgage-bond product. Reuters (2/8), The Wall Street Journal/Law Blog (2/8) LinkedInFacebookTwitterEmail this Story
  Professional and Business Development 
  • The 90-day rule for weighing career change
    If you're unhappy for more than 90 consecutive days, it's time to start plotting a career change, writes Aaron P. Arnold, a member of the Young Entrepreneur Council. "It makes no sense to go another 90 days; it's time to pivot, see all the angles and assess your next move," he writes. Forbes/Young Entrepreneur Council (2/7) LinkedInFacebookTwitterEmail this Story
  PLI News 
  • The Impact of the HITECH Requirements
    After waiting for almost four years, the Department of Health and Human Services has now released its "Omnibus" final regulation implementing the HITECH requirements of the HIPAA Privacy and Security Rules. This afternoon's audio briefing Making Sense of the New HIPAA/HITECH Era will provide an overview of the key changes, identify the primary compliance challenges and identify the most significant new obligations stemming from these rules. LinkedInFacebookTwitterEmail this Story
  • Commercial Real Estate Financing 2013
    This Feb. 14 to 15 seminar (in New York and on the Web) will explore major issues and problems, and recent changes, in how lenders and borrowers negotiate commercial real estate loans in the still-lingering shadow of the recent financial crisis. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
The only man I know who behaves sensibly is my tailor; he takes my measurements anew each time he sees me. ... The rest go on with their old measurements and expect me to fit them."
--George Bernard Shaw,
Irish playwright


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