04/05/2019
BNY Mellon and BlackRock sign alliance to create front-to-back office data service
BNY Mellon plans to deliver real-time trade data, asset prices and cash positions to the 40-50 clients it shares with BlackRock’s Aladdin.
Legal, Regulation & Compliance
04/05/2019
UBS Works on Employee Overpayment Errors
UBS is likely to address its approach to the resolution, including whether it will attempt to recoup money from brokers or other employees, in upcoming meetings, the internal source said.
04/05/2019
Socialism inevitably produces stagnation, corruption and often worse: Chase CEO Jamie Dimon
JP Morgan Chase CEO Jamie Dimon published his annual letter to shareholders on Thursday, and with it warned of a looming economic slowdown
04/05/2019
Maine Resident Charged With Defrauding Over 100-Investors
The SEC’s complaint alleges that Wall and Lighthouse violated the antifraud provisions of Section 17(a) of the Securities Act of 1933 (“Securities Act”) and Section 10(b) the Securities Exchange Act of 1934 and Rule 10b-5 thereunder
04/04/2019
Outlook for 2019: cross-border M&A and post-merger integration
Unfeasible expectations can dampen or even derail the transaction.
04/04/2019
StanChart extends U.S. deferred prosecution agreement by 10 days
“This brief extension will allow additional time to resolve the outstanding investigation into our historical U.S. sanctions compliance,” a StanChart spokeswoman said.
04/03/2019
US, European alts firms added to Chilean AFP list
Portfolio Advisors partner Brian Murphy, who has been leading the charge to develop the firm's presence in Latin America, said the company has increased its focus on Chilean pension funds following regulatory changes that gave the AFPs more access to
04/03/2019
SEC amends rules to update and simplify disclosure requirements
The amendments, some of which are technical in nature, touch a variety of disclosure requirements impacting registration statements and current and periodic reports.
04/02/2019
Dubai Chamber opens representative office in Argentina
Announcement comes ahead of 3rd Global Business Forum Latin America and follows office openings in Panama and Brazil
04/02/2019
Why Aren’t Hedge Funds Required to Fight Money Laundering?
The push to regulate hedge funds and similar investment firms took off after the Sept. 11 attacks, when Congress passed the Patriot Act.
04/01/2019
FCA and SEC sign updated supervisory cooperation arrangements
These MOUs will come into force on the date EU legislation ceases to have direct effect in the United Kingdom.
04/01/2019
UK’s top fraud prosecutor backs U.S.-style plea bargaining deals
Retailer Tesco and aero-engines group Rolls-Royce agreed DPAs with the SFO in 2017
03/29/2019
Vistra Achieves SOC 1 and SOC 2 Accreditations for Strong Internal Controls
The accreditations are objective proof of our strong control environment.
03/29/2019
CRA executes search warrants on Vancouver properties in tax evasion case
'The net is tightening,' says National Revenue Minister Diane Lebouthillier
03/29/2019
Better surveillance needed to beat spoofing, argues regtech exec
“An obvious spoofing case is communications asking to buy, but the trader first introduces orders to sell – in order to manipulate the market – then to buy, before then removing the sell order and letting the buy being executed at a lowe
03/29/2019
IRS issues interim guidance on excess compensation tax owed by tax-exempt organizations
The new tax is effective for 2018 and subsequent taxable years.
03/29/2019
The Colony Group’s Acquisition Of Steinberg Global Asset Management
The businesses are set to close their transaction on May 1, 2019.
03/28/2019
U.S. Supreme Court safeguards investor-protection laws
Writing on behalf of the court, liberal Justice Stephen Breyer said perpetrators of securities fraud could escape liability if the law were interpreted too narrowly.
03/28/2019
FCA fines Goldman Sachs £34.3m for Mifid breaches
Accurate and complete transaction reporting helps underwrite market integrity and supervise firms and markets. In particular, transaction reports help the FCA identify potential instances of market abuse and combat financial crime.
03/28/2019
Court Approves $13.8 Million Settlement In Unwanted Loan Modifications Class Action
The approved settlement requires the bank to pay $13.46 million into a settlement fund for nearly 6,000 class members.