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.
Legal, Regulation & Compliance
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.
03/27/2019
Ex-UBS broker first to be sentenced in fraudulent Puerto Rico bond sales scheme
I'm not here to blame anyone else
03/27/2019
Canada moves to criminalise 'reckless' behaviour by advisers
This plan includes and amendment extending the offence of money laundering to include 'recklessness' as an alternative criterion for prosecution.
03/27/2019
Citigroup Faces $1.2m Fine in Japan over Alleged JGB Manipulation
Based on its findings, the SESC made a recommendation to the Prime Minister and the FSA (Financial Services Agency) commissioner that an administrative monetary penalty payment order should be issued in regard to the alleged market manipulation.
03/26/2019
Los Angeles Lateral Hiring Frenzy Is Not Slowing Down
Firms from outside of California continue to show interest in growing their LA presence.
03/22/2019
Billionaire Michael Steinhardt accused of sexual harassment in NYT report
The former hedge fund founder denies touching anyone inappropriately.
03/22/2019
Allston hedge fund manager gets lengthy sentence in Ponzi scheme
He told investors the fund was “earning substantial returns,” but it was actually “earning substantial losses,” by 2014, according to the statement.
03/21/2019
Goldman Sachs to Cut 65 Jobs from its NYC Offices
The firm is eliminating 10 staffers in the commodities division, representing about five percent of the unit’s workforce
03/21/2019
Walkers Bermuda to Speak at the Bermuda Executive Forum in New York
Walkers Bermuda* partner Jonathan Betts will also be in attendance.
03/21/2019
SEC to focus on asset management competition
She stressed that the first step before considering policy changes is to "have a clear understanding of costs and benefits and pay careful attention to unintended consequences."