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There’s something about anything in a foreign country that is alluringly exotic. French wine, whether it is or is not, sounds more luxurious. Italian, Chinese or Thai cuisine has a strong pull for Americans tired of the standard burger or steak. And when it comes to people, while nothing beats the Texas drawl, there is [...]
SEC’s consideration of the effect of its rule on efficiency, competition and capital formation was ‘arbitrary and capricious’ The Court of Appeals for the District of Columbia Circuit today ordered the Securities and Exchange Commission to reconsider a rule that treats most equity index annuities as securities. The ruling is a victory for the equity [...]
A former Morgan Stanley executive has been accused of stealing $2.3 million from the New-York based investment bank over a period of seven years, according to published reports. Richard Garaventa, a former vice president in the operations division of Morgan Stanley’s institutional securities, is charged with grand larceny and falsification of business records, according to [...]
Situation: Your client would like to transfer securities to family members and asks for your help. Solution: Normally, you look for ways to discount the value of assets being gifted. Perhaps the silver lining of the recent bear market is the built-in discount of security values. However, you must pay attention to cost basis and [...]