05/31/2018
US Mounts Major Global Money-Laundering Campaign
It is uncertain how much of the new assertiveness can be traced to the US initiative.
Legal, Regulation & Compliance
05/31/2018
FA Suing Edward Jones Hires Giant-Killer Law Firm
Edward Jones denied Bland and other African-Americans “business opportunities and resources regularly given to white FAs at the firm,” the lawsuit states.
05/30/2018
A rose by any other name might still be a security
Another prominent lawsuit filed in California Superior Court on May 3, 2018, may also force judicial guidance.
05/30/2018
Ex-Citigroup broker indicted for swindling elderly clients
The victims included nurses, shopkeepers and municipal workers, and they all had given the majority of their cash — in many cases well into six figures — to Mustaphalli, Underwood said.
05/29/2018
UBS Arbitration Decision Might Hearken Sea Change For Advisors
Because UBS and its branch officials failed to do anything about it, Marcano’s only choice was to quit, Malone claims, according to the website.
05/25/2018
UBS Partners with Diversity Recruitment Platform
“You’re going to need to have a workforce that is inclusive of what this country looks like.”
05/24/2018
Former Barclays wealth management executive wins $2.7 million arb award from former firm
Thomas W. Lee claimed Barclays shortchanged him after he guided sale of advisory unit to Stifel Financial Corp.
05/24/2018
Ex-Merrill Lynch FA Suspended Over Kiting Scheme
Merrill first accepted the checks and credited his account but eventually rejected them, Finra says.
05/24/2018
Bad Broker With 55 Disclosures Skips Out On Paying $4.3M in Damages
In May 2015, Diaz was barred by Finra from the industry. By April 2018, Diaz had racked up 55 disclosures.
05/24/2018
Guggenheim agreed $30m settlement with fund manager
Arrangement reached last year as divisions at Wall St firm raised fears of defections
05/24/2018
A Dutch Treat? Some Lawyers See Netherlands as Next Class Action 'It' Spot
There are a number of reasons for lawyers representing plaintiffs and defendants to believe that Dutch courts could become an ideal overseas venue to resolve class action disputes. But uncertainties still abound.
05/22/2018
FINRA to Reveal Reps’ Undisclosed Bankruptcies, Judgments and Liens
The organization will conduct a search of public records within 15 days of a new U4 filing, helping member firms fulfill a regulatory requirement.
05/22/2018
Seizing the GDPR Advantage: From mandate to high-value opportunity
Look beyond the compliance side of the GDPR
05/22/2018
Morgan Stanley Breakaways Sue Wirehouse for Client Access
In addition, the suit says Morgan Stanley’s definitions of client privacy and trade secrets — which the wirehouse has used in the past to argue its case against departing brokers —is overly broad.
05/18/2018
SEC Charges Brokerage Firms and AML Officer With Anti-Money Laundering Violations
According to the SEC, from October 2013 to June 2014, Chardan, an introducing broker, liquidated more than 12.5 billion penny stock shares for seven of its customers and ICBCFS cleared the transactions.
05/18/2018
Award Winners — Lawyers & Law Firms
Firm of the Year 2018: Hogan Lovells
05/18/2018
SEC Charges Owner of Alternative Investment Firm in Belize Airport Financing Scam
The SEC’s complaint alleges that between 2014 and 2017, Brent Borland sold more than $21 million of promissory notes to dozens of investors
05/17/2018
US to resume prosecutions of deliberate offshore tax avoiders
US expats who have willfully failed to declare unpaid tax to the IRS have until September to come clean or once again risk prosecution as a key amnesty programme ends.
05/17/2018
Essential Services For Private Client Lawyers Working With The Super-Rich And Family Offices
While most legal services are becoming increasingly commoditized, there are many times significant differences in the quality of the work done by different private client lawyers.
05/11/2018
Wealthy art consultant pleads guilty to lying on tax return
Lying on her tax return about Swiss bank accounts