Here are “Bramwell’s Lunch Beat” menu items for December 3.
Ernst & Young settles Lehman investor suit for $99 million
Big Four firm Ernst & Young (EY) agreed to pay investors $99 million in a settlement over its auditing of the bankrupt Lehman Brothers Holdings Inc., once the forth-largest US investment bank, Bloombergreported. The agreement will resolve claims of investors who bought certain securities from June 12, 2007, to September 15, 2008, the date Lehman filed for bankruptcy.
SEC drops disclosure of corporate political spending from its priority list
The US Securities and Exchange Commission (SEC) has a lot of items on its list of 2014 priorities – but corporate political spending disclosures isn’t one of them. Why? The SEC declined to comment for this Washington Postarticle, but one advocate of the SEC crafting a political spending disclosure requirement believes the agency’s 2014 agenda is geared more toward advancing proposals mandated by Congress, not nonmandatory initiatives.
New target of financial planners: clients’ kids
In this Reutersarticle published by the Fiscal Times, financial advisers are using several approaches to engage their clients’ kids about financial planning. For example, advisors at Cincinnati-based Truepoint Inc. start signing young clients with custodial accounts as soon as they reach the age of maturation, which is twenty-one in most cases. The accounts are not subject to minimum fees, and pricing is worked out for each client, said CEO and Founder Michael Chasnoff.
Ten personal finance tips from hip-hop lyrics
Do rap songs contain a treasure trove of sound financial advice? Check out this entertaining Forbesblog to find out.
All this regulator wants for Christmas is an end to economic woes
Julie Dickson, Canada’s top banking and insurance regulator, is “going big” on her one Christmas wish for 2013: She wants Santa to end much of the economic and fiscal woes of Canada, the United States, and Europe, the Wall Street Journalreported.
"I don’t know how big Santa’s sleigh is", Dickson, head of the Office of the Superintendent of Financial Institutions, said during a fireside chat before an audience of Canadian financial services executives in Toronto on December 2 that was moderated by KPMG’s Neil Parkinson.
Alas, she acknowledged her wish is unlikely to happen.