peHUB First Read

* KKR is rethinking plans for its un-IPO, which would have seen the firm list in New York without actually offering up new shares. Instead, KKR may just buy out shareholders in its Amsterdam-listed affiliate, who currently are slated to be rolled up into the New York "offering." So much time and attention paid to this so far, and so little to show for it... * Henry Blodget: "Buried in Obama's financial reform plan is a requirement to make stockbrokers act in the best interests of their clients ("fiduciary responsibility"). This would replace the current conduct standard, which merely requires brokers not to stuff their clients accounts full of products they would be crazy to buy ("suitability")." * The debt commitment connundrum. * Morning Call: U.S. futures up despite RIM dissapointment, London edges higher, European stocks rise on banks and commodities, the Nikkei posts its worst week in three months and Hong Kong recoups some losses.