07/16/2018
US Court Rejects Bid to Dismiss Puerto Rico Insolvency Case
The board is appointed under a 2016 federal law — known as PROMESA — to oversee and improve Puerto Rico's finances.
Legal, Regulation & Compliance
07/13/2018
BTG Founder Esteves Acquitted in Brazil Witness Tampering
In September, prosecutor Ivan Claudio Marx had recommended that the charges be dropped.
07/13/2018
JPMorgan Whistleblower Set to Get Largest Payout from CFTC
Alert on conflicts of interest at JPMorgan leads to $30 million award
07/13/2018
Orsinger, Nelson, Downing & Anderson Announces Two New Partners
Chris and Holly are exceptional attorneys who have demonstrated their dedication to the success and well-being of our clients
07/11/2018
Oaktree Capital Management settles with SEC over pay-to-play charges
An Oaktree Capital spokeswoman declined to comment.
07/10/2018
IRS Deems Transfer of Artwork to Museum a Completed Gift
Sometimes, a client’s personal goals can conflict with optimal tax planning and produce disastrous results.
07/10/2018
SEC, strapped for funds, can't police financial markets
The mandates facing the SEC are growing and therefore further straining the resources available.
07/09/2018
Mexico's Next Finance Chief to Fight Use of Co-ops to Evade Tax
Increasing revenue to finance his spending policies is one of the challenges facing Mexico’s president-in-waiting.
07/09/2018
Ninth Circuit Strikes Down California Royalties Law
The California Resale Royalties Act, which went into effect Jan. 1, 1977
07/09/2018
Ex-Merrill Lynch FA Says Wirehouse Didn’t Pay Her What It Owed
Arendell is seeking compensatory damages in excess of $50,000, punitive damages, and lawyer fees and costs, according to the publication. Arendell is also seeking a trial by jury, the Record writes.
07/06/2018
FINRA Shortens Review Process of Advisors’ Public Records
The regulator will begin conducting reviews within 15 days after a firm applies to register an individual with FINRA, something that was previously done annually.
07/06/2018
Ex-Nomura trader must defend bond-case dismissal in higher U.S. court
A federal appeals court in another case tossed out the conviction of another trader, Jesse Litvak — and that prompted Gramins’s judge to follow suit.
07/06/2018
Delaware gives ‘critical’ backing to ailing US beneficial owners list
The United States’ most nebulous jurisdiction has backed a bid in Congress to create a beneficial ownership register.
07/06/2018
Morgan Stanley Court Ruling Complicates Switching Firms
The ruling only applies to the state of Georgia but it could be used by other courts as well as industry panels for similar cases, Bloomberg writes.
07/04/2018
Georgia court ruling could further weaken Broker Protocol protections
While the state-court ruling applies only in Georgia, other courts and industry panels could refer to it in ruling on similar cases.
07/03/2018
PwC must pay FDIC $625M for failing to uncover fraud scheme
Colonial, based in Montgomery, Ala., had been among the 25 largest US banks, while Ocala, Fla.-based Taylor Bean was the nation’s 12th-largest mortgage lender.
07/03/2018
U.S. fund claims $175 million from South Korea over Samsung units' 2015 merger
Mason Capital filed a notice of intent seeking a resolution through the Investor-State Dispute Settlement mechanism
07/02/2018
SEC Charges New York-Based Firm and Supervisors for Failing to Supervise Brokers Who Defrauded Customers
The SEC’s investigation has been conducted by David Oliwenstein, David Stoelting, Roseann Daniello, and Steven G. Rawlings, and supervised by Sanjay Wadhwa.
07/02/2018
SEC Charges Morgan Stanley in Connection With Failure to Detect or Prevent Misappropriation of Client Funds
Morgan Stanley previously repaid the four advisory clients in full plus interest.
06/29/2018
SEC Proposes New Approval Process for Certain Exchange-Traded Funds
Since 1992, the Commission has issued more than 300 exemptive orders allowing ETFs to operate under the Investment Company Act.