The battle between Goldman Sachs and SEC over market power
The ongoing battle between the SEC and Goldman Sachs, which has resulted in a $1 billion court case, is seen by many as the ultimate fight off between the regulator and the finance industry. These are the two powerhouses of the financial industry and despite the fact that the SEC claims to have a fairly secure case against Goldman Sachs, there is some suggestion in the marketplace that the case may not be as strong as many had first assumed.
The SEC is by far and away the strongest financial regulator in the world and its influence carries further than the US alone. Goldman Sachs is also one of the strongest financial companies in the US and again its influence also carries around the world. The court case between these two giants could ultimately swing the balance of power to either financial companies or the financial regulator at a time when both are battling to get the upper hand.
There is no doubt that Goldman Sachs will roll out the best lawyers and the best legal team in the world but the SEC will also be able to call upon significant funding to put its case to the people as well. Who will win this battle of the heavyweights?
Share this..
Related stories
BSkyB agrees to sell part of ITV stake
After a very expensive two-year legal battle BSkyB has finally agreed to sell around 10% of the company's near 18% stake in ITV. The situation can be traced back to the Competition Commission ruling back in 2008 which concluded that BSkyB could have undue influence over ITV it was able to maintain its 17.9% stake. The overall state stake is now running at a loss of £330 million and has been nothi...
Read MoreThe reason I am so rich is because......
If there is one statement and one philosophy which sums up the UK investment market it is the strategy of Lord Rothschild who famously commented that "The reason why I am so rich he is because I always sold too early". So what exactly does this mean and does it work in practice?
The philosophy behind Lord Rothschild's investment strategy is the fact that each and every sector, each...
Royal Bank of Scotland starts to dismantle global empire
After news that the Royal Bank of Scotland is actively seeking buyers for its Pakistan division many are now predicting the dismantling of the global empire which pushed Royal Bank of Scotland into the top league of banking companies around the world. While the division itself is only worth around £180 million it is more the fact that the company appears to be actively seeking to sell off global...
Read MoreUK Banks Set To Throw In The Kitchen Sink
As we approach the bank reporting season in the City it looks as though the banks will be out to paint as bad a picture as possible in the short term to justify the many cash calls we have seen. The general consensus suggests that banks will see profits down 30% on average for the first half of the year, but banks such as Alliance and Leicester may well report profits for the first 6 months being...
Read MoreIs it time to set-up a business online?
As the UK employment market continues to struggle it seemed as though more and more people in the UK are looking online for solutions to their problems. However, many seem to be put off setting up a small business from their home because of the continuing problems with the UK economy and specific sectors in particular. But is now the right time to set up a small business?
While it w...