07/16/2019
Merrill Lynch fined W175 mil. for high-frequency trading
The securities firm used algorithm-based trading through direct market access.
Legal, Regulation & Compliance
07/16/2019
Wells Fargo tempers cost-cutting outlook
“We’ve seen a greater need for us to make investments in terms of risks, compliance and audit, all those things that we’re going to need to make investments in, in order to satisfy the requirements of our regulators,” said Interim
07/15/2019
Chambers High Net Worth Guide Recognizes Katten's Trusts and Estates Practice
Katten also was commended for the outstanding legal services it provides in Private Wealth Disputes in New York.
07/15/2019
These recent data breaches generated huge fines, so here’s why your data processing agreements need to be watertight
The final amount of the fines may well be decreased in court.
07/15/2019
House committee OKs multiemployer pension reform bill
Also known as the Butch Lewis Act, the bill would establish the Pension Rehabilitation Administration and a related trust fund within the Treasury Department
07/15/2019
U.S. proposes barring big tech companies from offering financial services, digital currencies
Even if it were to pass the full house, it would still have to pass the senate which would also likely be an uphill struggle.
07/14/2019
Ex-BH Stockbroker Convicted in $200 Million Stock Manipulation Scheme
Prosecutors allege that Ficeto, Homm and the other co-conspirators “fraudulently manipulated the penny stocks to inflate and artificially prop up their prices to exaggerate the purported profitability of the Absolute Capital hedge funds.
07/12/2019
Jeffrey Epstein: Paedophile financier offers private jet and mansion to avoid pre-trial jail
Prosecutors say 66-year-old is 'extraordinary' flight risk
07/12/2019
DLA Piper advises IMF Bentham on new USD500 million fund
Fund 5 has been established as a Cayman Islands exempted limited partnership, with IMF Bentham and its related entities providing investment management and advisory services.
07/11/2019
Societe Generale sued for $792 million by heirs of Cuban bank seized by Castro
The lawsuit was filed eight months after Societe Generale agreed to pay $1.34 billion
07/11/2019
Dynasty Financial Partners Adds Ethic’s ESG Offering to Its Turnkey Asset Management Platform
Industry Pioneer Continues to Expand its Integrated Offerings for the Advisor Community
07/11/2019
Wall Street watchdog to boost transparency about using 'cooperation' for penalty reductions
The change, published in a regulatory notice, is the latest effort by a U.S. financial regulator to highlight cooperation programs, which they say are central to their enforcement efforts.
07/09/2019
Bank of Canada chief’s comfort level with stronger currency faces a test J
An appreciating currency is a particular worry for a Canadian economy weighed downed by household debt and banking on its exporters to carry more of the growth burden.
07/08/2019
Eccentric US millionaire McAfee plans presidential run ... from Cuba
McAfee's immediate goal is to win the presidential nomination of the Libertarian Party, which advocates for free trade and a sharply reduced federal government
07/08/2019
Jeffrey Epstein charged with sex trafficking, reports say
US billionaire will reportedly appear before a federal magistrate on Monday
07/08/2019
Supreme Court takes fiduciary case for overfunded DB plan
The Supreme Court accepted the case, Thole vs. U.S. Bank, after it was dismissed by a lower court and the 8th U.S. Circuit Court of Appeals in St. Louis.
07/08/2019
Monaco and the USA are negotiating agreement for exchange of country-by-country reports
The country-by-country reporting scheme was established by countries in 2015 as a result of the OECD/G20 base erosion profit shifting plan.
07/08/2019
Morgan Stanley Implores Judge to Not Cause Confusion in Expenses Case
A Morgan Stanley spokesperson declined to comment.
07/06/2019
Major changes in CT trust law offer expanded protections, possible windfall for state
Kelley Galica Peck, a partner in Stamford-based Cummings & Lockwood’s Private Clients Group, served as vice chair, Estates and Probate Section, of the Connecticut Bar Association and was instrumental in the drafting and proofing of the act.
07/05/2019
Allianz SE makes bid for Brazilian Sul América's auto and P&C portfolio
The Brazilian company runs multiple insurance segments such as health and dental, auto, property and casualty, life and personal accident insurance.