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Tag Archives: Regulatory


 Yes… there is material, non-public information in the fixed income markets… and the former General Counsel of UBS is paying a big fine today for acting on non-public information to his advantage… from the Securities Law Prof Blog…  ~~~~ ” New York Attorney General Andrew M. Cuomo announced a $6.5 million settlement with David Aufhauser, a […]

Sir Manton

Cloud Study, c. 1820s, by John Constable, Oil on artist’s board When I lived in New York City I used to keep up the garden of my church, Church of the Ascension, at 10th Street and 5th Avenue. I got to know a delightful, elderly couple from the church who took great delight in the […]

Fig leaf…

Credit ratings = fig leaves? Sure… on many levels…. the use of credit ratings for regulatory purposes had become excessive… Ratings were the “hall pass” or token that allowed entities or individuals to own specific securities… old paradigm… Although ratings are only an “opinion” on the credit worthiness of a security high ratings often were used […]