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Delaware Court Of Chancery Finds Demand Futility As To Fiduciary Duty Breach Claims Arising From Costly Loan Approved By Interested Directors And Allegedly Illegal Conduct Known To The Board

Shearman & Sterling

On September 29, 2017, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery granted in part and denied in part a motion to dismiss derivative claims for breach of fiduciary duty against the board of foreign exchange broker FXCM Inc. ("FXCM"), sustaining two grounds for breach after finding that demand would have been futile.

Broker 52
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Delaware Court Of Chancery Finds Demand Futility As To Fiduciary Duty Breach Claims Arising From Costly Loan Approved By Interested Directors And Allegedly Illegal Conduct Known To The Board

Shearman & Sterling

On September 29, 2017, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery granted in part and denied in part a motion to dismiss derivative claims for breach of fiduciary duty against the board of foreign exchange broker FXCM Inc. ("FXCM"), sustaining two grounds for breach after finding that demand would have been futile.

Broker 40
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People Moves Monday: Shifts in the trading space

The TRADE

New York-based independent prime broker Clear Street hired a team of investment bankers to build out its new investment banking and advisory offering. Kirk first joined Liquidnet as an equity trader in February 2015 after also previously serving in a similar role at BTIG. His next role is unconfirmed.

Trading 64
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Guiding Entrepreneurs: David Barnett's Comprehensive Approach to Buying and Selling Businesses

How2Exit

Starting from childhood enterprises to careers in sales and a formal education in business school, Barnett has accumulated a wealth of experience that led him to own a business broker office for several years before venturing into banking.

Business 130
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People Moves Monday: Berenberg, EuroCTP, Aquis Exchange and more…

The TRADE

Previously in her career, she spent three and a half years as a cash equity broker at Tullett Prebon. Green joins from Fidelity Information Service (FIS), where he served as managing director, derivatives utility for the past eight years, following the firm’s acquisition of SunGard in 2015.

Trading 64
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Buy-side trading head recommends cautious approach to emerging markets despite strong investor interest

The TRADE

“In the past decade, we’ve seen increase the number of investors and the number of listings we’ve issued, the qualified Foreign Investors Regulations was introduced 2015, which allows foreign investors to have direct access to the market and today we have 3800 foreign investors.

Trading 64
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The Sky Definitely Is Not Falling…At Least Not Yet

Sica Fletcher

Dry PE powder had almost doubled since the end of 2015, when it stood at $750 billion. But for now, the sky is certainly not falling, at least in terms of insurance agency and broker M&A. This reflected the impact of valuations on deal flow and an increasing imbalance of potential sellers and buyers. Dry powder reached $1.4