01/30/2018
Connecticut Resident Sentenced to Prison for Concealing Assets in Swiss Accounts
Failed to Report Foreign Financial Accounts with Value Exceeding $28 Million
Legal, Regulation & Compliance
01/30/2018
Jefferies inks strategic alliance with BOC International
As part of Jefferies ongoing effort to meet the ever-changing needs of our global institutional clients, we are very pleased to begin working with BOCI
01/30/2018
Why Munis Won't Matter Anymore to Many HNW Clients
The new tax plan is making any perceived value of buying muni bond funds – especially for those living in relatively high-tax states – essentially a dead deal,” he says.
01/30/2018
Prudential Facing Some Class Claims in Life Insurance Battle
The lawsuit, first filed in 2010 by the children of a deceased JPMorgan employee, contends that Prudential’s practice of paying life insurance benefits in a checkbook-style account—rather than a lump-sum payment—violates federal benefits
01/30/2018
SEC Halts $600M Bank ICO Scam
The SEC’s investigation was conducted by David Hirsch and supervised by Jessica Magee and Eric Werner in the Fort Worth Regional Office in coordination with the Enforcement Division’s Cyber Unit.
01/29/2018
Tim Duncan Settles Lawsuits Against Financial Advisor
Tim Duncan settles his lawsuit against his former financial advisor
01/29/2018
US files 'spoofing' charges against UBS, HSBC and Deutsche Bank
Deutsche Bank and UBS have agreed to pay $30m and $15m respectively to settle the civil charges in the case
01/29/2018
Acting Assistant Attorney General John P. Cronan Announces Futures Markets Spoofing Takedown
The charges we are announcing today relate to alleged fraud and manipulation of the U.S. futures markets through schemes that are colloquially known as “spoofing.”
01/26/2018
Lawsuit claims TCW fired female fund manager for alleging sexual harassment
Tirschwell said in the complaint she was fired on Dec. 14, 2017, nine days after complaining about Ravich’s advances, on the pretext that she had violated TCW’s conflict of interest rules.
01/25/2018
Rogue Broker With 50+ Disclosures Ordered to Pay $4.3 Million
Finra suspended Diaz indefinitely in 2015 for failing to comply with a settlement agreement or an arbitration award or to respond to the regulator’s requests for information, according to his BrokerCheck profile.
01/24/2018
SEC on ‘High Alert’ for ICOs that Violate Federal Securities Laws
Clayton said that the agency is “looking closely” at such “Blockchain-R-Us” schemes to determine whether they violate securities regulations.
01/22/2018
Bank Leumi Announces Agreement for Strategic Investment Into Bank Leumi USA, Setting the Latter's Value Just Under 1 Billion USD
The strategic investment brings extensive expertise in the U.S. financial services and banking fields, will assist in the continued evolution and success of Bank Leumi USA and will lead to the creation of greater value for the Leumi Group.
01/19/2018
Goldman Sachs chief's PA 'stole £860,000 of fine wine from him including seven ultra-rare burgundies worth £13,750 each'
The banker, 55, has been collecting wine for decades and is said to have a 1,000-bottle storage area
01/19/2018
HSBC shells $100 million to resolve front-running charge
In total, HSBC admitted to making profits of approximately $38.4 million on the first transaction in March 2010, and approximately $8 million on the Cairn Energy transaction in December 2011.
01/19/2018
SEC and CFTC promise to crack-down on virtual currency fraud
The Divisions of Enforcement for the SEC and CFTC will continue to address violations and bring actions to stop and prevent fraud in the offer and sale of digital instruments.
01/18/2018
Finra Bars Two Reps In Connection to Fund Misuse
Separately, Finra has barred Matthew Peregoy, who was registered with Investors Capital Corp. from January 2006 to July 2016
01/16/2018
Canada pension fund launches rate rigging case
The lower the CDOR rate, the less interest the banks would owe on such positions.
01/16/2018
Ex-Katten Partner Launches Legal-Focused Investment Firm
Darius Goldman, a former head of distressed debt at Katten Muchin Rosenman in New York, has some thoughts about the Big Law business model.
01/16/2018
What Will Waivers for Convicted Banks Mean for the Financial System?
Trump owed Deutsche Bank about $130 million, according to a report last June from the U.S. Office of Government Ethics.
01/16/2018
Regulators Slap Banks, MSBs and Card Club with AML Violation Penalties
In 2017, federal and state regulators stepped up AML enforcement.