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.
Legal, Regulation & Compliance
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."
03/20/2019
Appleby Bermuda partner joins industry experts to speak on captive insurance panel in New York
Gary will be participating in the panel entitled ‘Captive Insurance: Your Company’s Risk-Management Advantage’.
03/19/2019
Manulife wins legal fight with hedge fund Mosten over insurance contracts
Manulife said on Monday that it was "pleased with the ruling."
03/19/2019
Malaysia to summon two Goldman Sachs units ahead of 1MDB case
On Monday, only the Singapore unit of Goldman Sachs appeared at a pre-trial hearing in a Kuala Lumpur court as a respondent.
03/19/2019
UAE the hub of Panama's Middle East strategy, says ambassador
Dubai's non-oil trade with Panama amounted to $42m in 2018
03/18/2019
Carey Olsen Bermuda's Ashley Fife to speak at Legal Week's Private Client Forum Americas
This year's conference features more than 30 speakers from 13 jurisdictions.
03/18/2019
IRS shift on lump-sum payments unlikely to spur big DB plan rush
The announcement reverses a 2015 notice in which the IRS said it intended to amend the code to disallow lump-sum offers to participants already receiving benefits.
03/15/2019
Canada Eyes Regulation of Crypto-Trading Platforms Amid Ongoing Quadriga Scandal
Currently, some platforms are subject to securities regulation depending on what crypto assets they trade and how they’re operated, but others are unregulated