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Rebalancing Bonuses, for Goodness Sake | Around Wall Street | Stephen A. Bornstein

http://aroundwallstreet.com/2014/10/rebalancing-bonuses-for-goodness-sake

Rebalancing Bonuses, for Goodness Sake. October 21, 2014. Now where are the ‘animal spirits’ going to go? Deutsche Bank just took its most daring step yet to reprogram its workforce. It adopted a policy denying the bank’s top-performing traders plum promotions and fat bonuses if they’re deemed to be disruptive or non-team players. To risk losing its star traders, DB must have concluded that nothing else could transform a culture of pure profit into one of playing by the rules. EU regulators blame pure-pr...

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The “B Corporation” | Around Wall Street | Stephen A. Bornstein

http://aroundwallstreet.com/2015/04/the-b-corporation

April 22, 2015. Etsy’s debut on the NASDAQ last week introduced the investing public to the Certified B Corporation, a for-profit company committed to also delivering measureable benefits to society and the environment. Investors apparently liked Etsy’s dual mission and, despite the fact that its online marketplace in handcrafted goods is not yet profitable, nearly doubled the price of its stock on its first day of trading. Like B Corporations certified by B Lab, statutory B Corporations seek to achieve ...

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Back to Basics for Insider Trading | Around Wall Street | Stephen A. Bornstein

http://aroundwallstreet.com/2014/12/back-to-basics-for-insider-trading

Back to Basics for Insider Trading. December 17, 2014. Who cares whether the original tipper got a. Todd Newman and Anthony Chiasson –hedge fund portfolio managers whose 2008 convictions and prison sentences. For insider trading were just vacated by the Second Circuit Court in New York — can thank a Wall Street insurance analyst by the name of Raymond Dirks for their new-found innocence and freedom. Dirks was the petitioner in a 1983 Supreme Court case (. Dirks v. SEC. Dirks got off with only a censure f...

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Microfinance 2.0 | Around Wall Street | Stephen A. Bornstein

http://aroundwallstreet.com/2015/05/microfinance-2-0

May 9, 2015. From sweet shop to corner suite. Shekhar Ghosh, named India’s Entrepreneur of the Year last year by The Economic Times. Just bested moguls like Anil Ambani of Reliance Capital and the Aditya Birla Group in winning one of only two bank licenses recently awarded by the Reserve Bank of India. Ghosh’s firm, Bandhan Financial Services, is India’s largest microlender. It has $1.6 billion in small, unsecured, outstanding loans to poor, industrious Indian women with terms of one to two years. Ghosh,...

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Private Placements for Total Strangers | Around Wall Street | Stephen A. Bornstein

http://aroundwallstreet.com/2012/04/private-placements-for-total-strangers

Private Placements for Total Strangers. April 2, 2012. JOBS Act should eliminate the need for a “pre-existing substantive relationship”. Tucked into the ban on general solicitations in U.S. private placements. Is the “pre-existing substantive relationship” requirement (PSR). For decades, the PSR has served as an unavoidable speed bump in the marketing of hedge funds. What the SEC had in mind by the “substantive” element of PSR is requiring marketers of private investment funds to make certain...The PSR h...

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Whither Insider Trading? | Around Wall Street | Stephen A. Bornstein

http://aroundwallstreet.com/2015/03/whither-insider-trading

March 26, 2015. A precise definition, an absolute prohibition or something in between? Two senior hedge fund managers slip out of their insider trading convictions because the government couldn’t prove they knew whether the corporate insiders who initially divulged the tips they ultimately traded on were paid off for doing so. But the recent Second Circuit decision in. Today, trading on MNPI by itself is not illegal. Only MNPI that is illegally obtained is currently restricted. In a 1983 case called.

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Loeb and Singer Pivot to Asia | Around Wall Street | Stephen A. Bornstein

http://aroundwallstreet.com/2015/02/loeb-and-singer-pivot-to-asia

Loeb and Singer Pivot to Asia. February 18, 2015. Two aggressive U.S. hedge funders open up a new activist frontier. Although he failed to persuade Sony Corporation last year to break itself up and spin off its entertainment business, Dan Loeb of Third Point ($14 billion AuM) now has his sights set on Fanuc Corporation, Japan’s tenth largest company and the world’s leading automation and robotics manufacturer. Fanuc counts Airbus, Ford and Tesla among its principal customers. Elliott, with $25 billion un...

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Blog Topics Asset management | Around Wall Street | Stephen A. Bornstein

http://aroundwallstreet.com/topics/assetfund-management

Are You an Unwitting ‘Fiduciary’? Each Fund’s Assets Are Sacrosanct. Intuition and Impulse in a Great Trader. Investment Advisers to Get Their Own SRO. Madoff Markers that JPMorgan Missed. Negotiating Managed Accounts with Public Plans. Rx for Expert Networks. Sharing Trades with Other Firms. Succession Planning for Asset Managers. Taking Your Track Record with You. The Mushrooming of Venture Capital. Uncle Sam Wants You! Using Solicitors to Raise Capital. Activists Face Off at Sotheby’s.

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Around Wall Street | Stephen A. Bornstein

http://aroundwallstreet.com/page/2

Connecting with an Angel. Taking a high-potential start-up to the next level. Angels are investors who finance start-ups after the entrepreneurs have put up their own capital and raised additional funding from so-called friends and family. Angels only invest in new businesses which they believe can return big numbers. July 23, 2014. France’s Very Bad Bank. Did BNP Paribas get off easy? July 15, 2014. Lifting the Lid on Private Equity. Who knew what PE managers were hiding from their investors? Statistica...