04/23/2018
Antitrust legal quick tips. Foreign investment review: five key antitrust tips
Against this backdrop, companies contemplating cross-border M&A must be aware of foreign investment review regimes and plan accordingly.
Legal, Regulation & Compliance
04/20/2018
Fired UBS Employee Looks to Mount Class Action for Age Discrimination
Friedman is no newcomer when it comes to suing wirehouses and has won more than $300 million in class action settlements from them for former employees.
04/20/2018
Mutual-fund regulators push for more fee transparency
In July, 2017, regulatory changes known as the second phase of the client relationship model – or CRM2 – were put in place to provide investors with greater transparency concerning the fees they pay for financial advice.
04/20/2018
US regulator to extend fiduciary rule
At present, though only as of recently, investment advisers must put their clients' interests ahead of their own. However, brokers are merely required to ensure any investment recommended is appropriate.
04/19/2018
US bank Wells Fargo said to be target of US$1 billion fine over alleged misdeeds
It would mark the toughest action that the Trump administration has taken against a major bank. And it is the latest blow to Wells Fargo, which for years was regarded as one of the country's best-run banks but lately has been reeling from a string of
04/18/2018
Andersen Global Announces Expansion in Argentina
Modo provides a range of tax and legal services for both individuals and corporations, utilizing technology as a differentiating element for the provision of services.
04/15/2018
Long Island Hedge Fund Manager Gets 57-Month Imprisonment For Stealing $3M From Investors
The government’s case is being handled by the Office’s Long Island Criminal Division. Assistant United States Attorneys Bradley T. King and Madeline M. O’Connor are in charge of the prosecution.
04/14/2018
SEC warns advisers to toe the line on fees
A risk alert highlights areas where the commission has seen mistakes and misconduct when it comes to charging fees for financial advice
04/13/2018
Federated Investors takes majority stake in fund manager Hermes
Hermes will remain headquartered in London as a subsidiary of Federated.
04/13/2018
Pilatus chairman was granted asylum in United States, green card in 2012
Ali Sadr Hasheminejad, who is accused of bank fraud and skirting Iran sanctions in the United States, is pleading not guilty to the charges
04/12/2018
US imposes sanctions on three Russia-linked Jersey companies
The JEP notes that all three of the Jersey companies are shown in Jersey Company Registry documents to be registered at 44 Esplanade, at the Jersey offices of Intertrust, an Amsterdam-based trust and corporate services provider.
04/12/2018
Chile eases ban on AFP hedge fund access
The change walks back rules stemming from a wide-ranging reform to boost AFP access to alternatives that came into effect November 1 and banned investments in hedge funds, directly and through vehicles that mimic their strategies.
04/12/2018
Sompo employee sues Chubb over $600,000 compensation
At the time of his separation, Chang’s compensation account balances exceeded $880,000, including more than $600,000 related to vested deferred stock awards, according to the claim.
04/12/2018
Dentons Announces Seven New Partnerships
The law firm is accelerating its strategy to grow in fast-growing areas including Kenya, Mauritius, the Caribbean, Indonesia and Malaysia.
04/12/2018
Fidelity Overhauls Wealth Management Fees
When the changes go into effect in July some new clients will pay less as a result but others may pay more, according to regulatory filings cited by the Journal.
04/11/2018
Union Bank & Trust to acquire Virginia’s Outfitter Advisors
Existing principals and staff of the acquired entity will join Old Dominion as part of the deal.
04/11/2018
J.P. Morgan Securities seeks temporary restraining order against ex-broker in Illinois
Mr. May worked at J.P. Morgan Securities and a predecessor firm for almost 10 years before resigning in December.
04/11/2018
LPL Financial Spends Big on Recruitment
In the broker/dealer channel, that’s a slippery slope because [LPL] could be paying sign-on money on assets that aren’t generating anything
04/11/2018
Fidelity Is Changing the Way It Charges for Financial Advice
Wealth customers will pay based on amount of assets with firm
04/10/2018
SEC fines three shops over mutual fund fiduciary failings
PNC Investments, Geneos Wealth Management and Securities America Advisors steered investors towards more expensive mutual fund share classes, the agency said.