Omnicare’s popping up all over the place these days, it seems. This time, the Supreme Court cited its own recent opinion in a Monday decision to vacate a 2d Circuit ruling that quashed a shareholder class action accusing ING of illegally hiding risks surrounding its MBS. Plaintiffs had cued up the case for cert in June 2014, citing “virtually identical” issues to those in Omnicare, which had been granted cert months earlier – Law360
The Dealbook’s White Collar Watch turns its focus to the SEC this week—specifically, lawmakers’ renewed interest in how the Commission’s doing its work. Insider trading, bad actor waivers, and the SEC/Wall Street revolving door—or as we like to call them, the greatest hits—are all part of the discussion – NYTimes
The WSJ profiles a shift in regulatory priority (or at least an expansion of it) to include the boardroom, as the Fed and other regulators are now holding regular meetings with directors of Wall Street’s biggest banks in an effort to make the system safer. Some directors complain that they are being asked to take on “too much responsibility,” pointing out that their role is different than management, but regulators defend the new approach by arguing that board engagement “benefits both sides” by increasing transparency of regulator expectations and pressing concerns – WSJ
Big win for ratings agencies S&P and Moody’s this week, as N.D. Illinois Judge John Blakey dismissed First National Bank & Trust of Rochelle’s suit against them alleging fraud in their RMBS ratings. Judge Blakey found the action time-barred under Illinois’ 5-year statue of repose – Law360
Some smart betting on plummeting oil has meant a taste of redemption for several commodities traders who had previously fallen from grace – WSJ
Yelpers weren’t impressed, but apparently they were asking for the wrong toppings – Huffington Post. Also, fun fact, this place is a block from my grade school. Way to go, St. Paul.