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
Legal, Regulation & Compliance
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.
07/05/2019
South America Eyes Trade Deal With Trump After Scoring EU Pact
Argentina talking with Brazil about U.S. pact, Macri said
07/03/2019
SEC Charges Investment Adviser With Fraud
According to the SEC’s order, from 2014 to early 2016, approximately 40 retail clients of Behn and Fieldstone invested more than $7 million in Aequitas securities, which were the subject of a previous Commission enforcement action.
07/03/2019
New share register requirements! Working towards greater corporate transparency
Once Bill C-97 comes into force, if corporations fail to comply with the investigative bodies’ request, they may be found liable on summary conviction to a fine of up to $5,000.
07/03/2019
Death, disability and divorce – drafting agreements with trusts as parties in light of Han v. Hallberg
The surviving partners notified the estate of their intent to exercise that purchase option.