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Legal, Regulation & Compliance

12/27/2023

The New York Times sues OpenAI, Microsoft over use of its stories used to train chatbots

Artificial intelligence companies scrape information available online, including articles published by media organizations, to train generative AI chatbots.

12/22/2023

U.S. fund Ripplewood makes offer to take over Orange Bank-Le Figaro

Ripplewood is also willing to take over Orange Bank's 700 employees, the newspaper said.

12/21/2023

White & Case advises Intesa Sanpaolo on US$3 billion notes issuance

The issuance consists of two tranches

12/20/2023

Latham Advises on Sterling and Wilson’s Qualified Institutional Placement

Firm represents bookrunning lead managers on issuance by global renewable EPC solutions provider.

12/20/2023

US Bank hit with multi-million dollar fines over prepaid card programme for the unemployed

Office of the Comptroller of the Currency

12/19/2023

US court approves CFTC settlement against Binance and $2.7 billion penalty

As previously announced, the order finds Binance, at Zhao’s direction, actively solicited customers in the United States

12/14/2023

Santander to buy BNP Paribas' Mexico asset management business

On its website, BNP Paribas lists life cycle, debt and white-label funds for its Mexico asset management business.

12/06/2023

Wall Street bank bosses warn lawmakers of economic toll from tough new rules

The CEOs hope to use the hearing as an opportunity to try to convince key moderate Democratic senators that the rule, which is being led by the Federal Reserve, could stifle lending, hurting small businesses and consumers.

12/04/2023

Ex-Wells Fargo CEO sues bank for $34 million in withheld pay, stock

The scandal drew scrutiny from shareholders and government officials and led the Federal Reserve in 2018 to order Wells Fargo to keep its assets below $1.95 trillion

12/04/2023

Bank of America To Pay $12,000,000 Fine for Repeatedly Breaking the Law, Sending False Information to Regulators

The agency says Bank of America will pay $12 million for repeatedly sending false information to federal regulators.

12/04/2023

U.S. bank CEOs expected to protest regulation push before Congress

The hearing comes amid a fierce industry campaign to kill the "Basel Endgame" proposal

11/30/2023

US Regulatory Update Q3 2023

The new rules require SEC-registered private fund advisers to comply

11/22/2023

SEC Charges Laidlaw & Co. Reps With Excessive Trading, Violating Reg BI

The SEC also charged the firm with failing to adhere to policies and procedures designed to catch evidence of excessive trading in client accounts.

11/21/2023

Blackstone to close multi-strategy fund after assets drop nearly 90%

"This is a small, legacy fund of around $200 million," a Blackstone spokesperson said in an emailed statement.

11/16/2023

Manulife Investment Management to Acquire Multi-Sector Alternative Credit Manager CQS

The transaction is expected to close in early 2024 subject to customary closing conditions and regulatory approvals.

11/16/2023

Morgan Stanley CEO says his firm is ready for ‘Basel III endgame’ — the sweeping new global rules on banking

Regulators say the changes in the proposals are estimated to result in an aggregate 16% increase in common equity tier 1 capital requirements

11/10/2023

Sources: Focus Financial Firms To Consolidate

Industry sources say Focus Financial Partners' new private equity owner plans to merge the sprawling ecosystem of firms into a small number of its existing entities.

11/09/2023

Citigroup to Pay $25.9 Million for Armenian-American Discrimination

Citi stereotyped Armenians as prone to crime and fraud.

11/06/2023

Consulting firms freeze US starting salaries in bid to shore up profit

McKinsey and BCG among those holding pay at last year’s levels as growth slows

11/03/2023

Withers recognized in Best Law Firms 2024 US rankings nationally in 3 practice areas and metro ranked in 12 practice areas

A Best Law Firms ranking helps successful individuals, businesses, charities and not-for-profit organizations identify law firms that best suit their needs and whose professional excellence, knowledge, and expertise are preeminent.

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