Wal-Mart Stores Inc., which runs a massive employee retirement plan, gave Bank of America Corp. quite a scare earlier this year when the retailer said it was putting its 15-year-old account up for review. Wells Fargo & Co. was mentioned as a bank in the running to manage the plan.
Though the case is not facing initial levels of publicity, five former employees of Bernard Madoff are also having their day in court. Like the Steinberg trial, the Madoff employees' trial has hit a critical phase: the testimony of the government's star witness.
When it comes to private equity, they would not be likely candidates for insider trading crackdowns. But the Financial Times argues that the industry now has a big target on its back for other potential crimes.