Activity:

• Asked to provide an expert analysis of investment banks’ actions in a variety of securities and structured transactions. At issue were the investments banks’ knowledge and involvement in capital markets transactions that mislead investors and creditors. 
• Our report analyzed a number of structured transactions in evaluating whether the investment banks acted improperly by determining if the investment banks followed their own internal processes, accepted industry practices and government regulations when entering into these structures.

Results:

• The report concluded that in each of the structured transactions reviewed the investment banks did not followed their own internal processes, accepted industry practices and government regulations.
• Moreover, the investment banks knew or should have known that structures were designed with the intent to mislead investors and creditors.  The investment banks ignored warning signs about the transactions intent and took precautions to distance themselves from potential exposure demonstrating knowledge about the integrity of the transactions.
• The report and rebuttal report concluded the investment banks have a responsibility to follow regulatory and industry practices, and their own internal policies and not proceed with the analyzed transactions.