08/30/2019
U.S. sanctions Lebanon's Jammal Trust Bank for ties to Hezbollah
Treasury is targeting Jammal Trust Bank and its subsidiaries for brazenly enabling Hizballah’s financial activities.
Legal, Regulation & Compliance
08/29/2019
Boaz Weinstein fund spars with BlackRock and Neuberger Berman
Saba is embroiled in fights over closed-end fund boards with asset managers and law firm Skadden
08/29/2019
SEC obtains emergency asset freeze and charges hedge fund CEO with USD100m fraud
The complaint alleges that Smith, and the entities she controls, also disseminated false statements touting positive returns and most recently fabricated documents in an attempt to inflate Broad Reach's assets and lull her investors into believing th
08/28/2019
CalPERS wrestles governance change
The proposed changes, which also include reducing the annual number of offsites from two to one
08/28/2019
Compliance warnings as a 'stress test' -- questions raised by the Epstein case
James Staley, who ran the bank’s asset-management division, which included the private bank, from 2001 to 2009, built JPMorgan’s relationship with Epstein, the article noted.
08/28/2019
Former Merrill Lynch adviser charged by SEC
The SEC's action follows on federal criminal charges, filed last week, that landed the alleged swindler in jail.
08/26/2019
US government pension fund urged to reverse China investment
Senators say FRTIB is supporting Beijing’s military, espionage and security efforts
08/26/2019
Court refuses to dismiss lawsuit over Puerto Rico pension law
Since then, former Gov. Ricardo Rossello, who signed the law, has been replaced by former justice secretary Wanda Vazquez.
08/25/2019
US names Nigerians in massive fraud investigation
The US authorities have charged 80 people, "most of whom are Nigerian nationals", with participating in a conspiracy to steal millions of dollars, prosecutors say.
08/23/2019
Wells Fargo pays $6.5 million to Navajo Nation over 'predatory' practices
Wells Fargo said in a statement that the agreement demonstrates the bank’s “commitment to make things right regarding past sales practices issues.”
08/23/2019
TD Partners with The Shed to Expand Opportunities in the Arts Across New York City
As the lead sponsor of The Shed's "Open Call," TD will underwrite programs focused on providing access, visibility and resources for New York-based emerging artists
08/23/2019
Wells Fargo pays $6.5 million to Navajo Nation over 'predatory' practices
The settlement “puts other companies on notice that harmful business practices against the Navajo people will not be tolerated,” Navajo Nation President Jonathan Nez said in the statement, which referred to Wells Fargo’s “long camp
08/22/2019
“Weeding out the competition” – an update on M&A activity in the cannabis sector
The Government of Canada announced that the production and sale of edible cannabis, cannabis extracts and cannabis topicals will be legal in Canada, as of October 17th, 2019.
08/22/2019
SEC Charges Broker-Dealer and CEO With Supervision Failures Related to Hedge Fund Valuation Scheme
Without admitting or denying the SEC’s findings, AOC and Gonzalez agreed to pay penalties of $250,000 and $40,000, respectively.
08/22/2019
SEC Charges ICO Research and Rating Provider With Failing to Disclose It Was Paid to Tout Digital Assets
The SEC's order finds that ICO Rating violated the anti-touting provisions of Section 17(b) of the Securities Act of 1933.
08/21/2019
JPMorgan metals trader pleads guilty to spoofing, resigns from bank
While the Justice Department did not identify the banks by name in court papers, Trunz had worked for JPMorgan since at least 2008, according to the Financial Industry Regulatory Authority’s BrokerCheck database.
08/21/2019
DC Circuit Court Requires Subpoenaed Chinese Banks to Produce Documents in Money Laundering Case
On July 30, 2019, the US Court of Appeals for the DC Circuit unanimously upheld a district court order requiring three unnamed Chinese banks to produce financial records subpoenaed by US federal prosecutors. Although the US government does not currently s
08/21/2019
U.S. regulators hand Wall Street a major win with stripped-down 'Volcker Rule'
Following the financial crisis, banks took important steps to recapitalize their balance sheets, restore liquidity, and improve their risk management in responsible ways.
08/21/2019
SEC proposes amendments to disclosure requirements under Regulation S-K
The proposal will be subject to a 60-day public comment period after its publication in the Federal Register.
08/20/2019
Hedge fund sues widow of portfolio manager who died by suicide
Visium is seeking more than $100m in repayment for money it says it paid Sanjay Valvani