12/22/2017
Finra fines Raymond James $2 million over emails
FINRA found that during a nine-year review period, Raymond James’ email review system was flawed in significant respects
Legal, Regulation & Compliance
12/22/2017
Regulators probe MetLife pensions
Secretary of State William F. Galvin, who oversees the securities division, said the disclosure made note of the company’s failure to pay monthly pension benefits to workers
12/22/2017
North Carolina Financial Advisor Indicted on Fraud Charges
A Raleigh financial advisor is accused of running a Ponzi scheme, SagePoint Financial adds multiple NPH teams and Ray Dalio critiques the tax reform bill
12/21/2017
U.S. regulator plays down bitcoin fears, backs fintech charter
A U.S. banking regulator said on Wednesday that bitcoin does not currently pose a threat to the country’s banking system and that there is “space” for innovative financial technology firms to operate in the traditional lending business.
12/21/2017
Fund Manager Sues U.S. Law Firm for Fraud Over Carbon-Tax Advice
The London office of McDermott provided tax advice to Gorton from 2004, and advised him to invest in a series of companies that created and traded carbon credits
12/21/2017
Hedge-Fund Titan Gets Sued By Mistress – The Wild Details Include An Ostrich Farm
The beauty queen-turned-Tesla model met Gibbins while dining at Le Bilboquet in Manhattan in June 2014, her suit says.
12/21/2017
JPMorgan broke anti-money laundering rules in 1MDB deals: Switzerland
The scandal surrounding the Malaysian state fund 1Malaysia Development Berhad has rocked the administration of Malaysian Prime Minister Najib Razak.
12/20/2017
Brazil charges Swiss bank manager with laundering bribe money
They said Suarez concealed the illegal financial operation with false information given to the bank’s compliance office.
12/20/2017
ASC suspends Privest Wealth Management
As part of that settlement, Privest agreed to terms and conditions, including that it hire an independent monitor to help it beef up compliance
12/19/2017
16th Annual MAC Survey - Nixon Peabody
This year’s survey suggests we continue to observe in MAC clauses an awareness of political and legal developments as they affect deals.
12/19/2017
US pension fund sues Willis Towers Watson over merger
The action was brought on behalf of all Towers Watson (TW) shareholders eligible to vote on the merger.
12/19/2017
Massachusetts and New York are investigating MetLife over unpaid pensions
The New York Department of Financial Services (NYDFS), which regulates insurers and banks in the state, said on Monday that it is reviewing the matter.
12/18/2017
US Government to Sell Off $10 Million in Seized Bitcoin and Bitcoin Cash
The order further said that cryptocurrencies will be sold and converted into US dollars
12/17/2017
The murky US prosecution of a Turkish banker
Banker, Mehmet Hakan Atilla, 47, had been charged with conspiring to violate US sanctions on Iran
12/14/2017
Chicago ‘Hedge Fund Manager’ Indicted On $10m Fraud
Chicago investment manager Shawn Baldwin, who made a name for himself in finance over the past decade, was indicted by federal prosecutors
12/12/2017
Robeco: China’s AM regulations and US tax reform risks
“The new rules in China limit the south-bound investments and will therefore have a negative impact on the Hong Kong equity market,” said Robeco’s Victoria Mio.
12/12/2017
Finra Bars Two Ex-Wells Fargo Reps
The scheme cost investors more than $800,000, according to the complaint.
12/12/2017
Canadian regulators and ASIC sign fintech cooperation pact
The Innovation Hub provides the opportunity for entrepreneurs to understand how regulation might impact on them.
12/11/2017
HSBC to Be Released From U.S. Deferred Prosecution Agreement
Controversial deal allowed the bank avoid criminal charges in 2012
12/11/2017
Senate Tax Plan Could Also Hit Digital Wealth Advisers
Algorithms that prioritize sales of share lots that have lost value would become less effective