09/26/2017
SEC sets up cyber enforcement division
The Retail Strategy Task Force will develop proactive, targeted initiatives to identify misconduct impacting retail investors.
Legal, Regulation & Compliance
09/26/2017
Pay ratio clarifications: SEC adopts new guidance
The Staff guidance addresses the use of estimates, statistical sampling and other reasonable methodologies in determining the pay ratio and includes examples illustrating possible applications of the Commission’s guidance under several scenarios.
09/25/2017
BNY Mellon Completes Successful Migration of Man AHL Book of Business
Man AHL, a pioneer in systematic trading, selected BNY Mellon as administrator following an extensive market search.
09/25/2017
SEC Charges Former RIA Over Misleading Investors
Moses had been a contractor at the unnamed fund and was dismissed after six months when his trading strategies didn’t pan out, the regulator claims.
09/25/2017
A $2,700 donation by a BlackRock executive could cost the firm $37 million
The ban is in effect for two years after the contribution is made.
09/25/2017
Defined Contribution Plan Sponsors Are Maximizing Their Fiduciary Responsibility from Oversight to Participant Experience
As contribution and investment decisions move from the hands of finance departments to individual participants.
09/25/2017
Morgan Stanley Ordered to Pay $13M Over UIT Sales
Firms must adequately supervise representatives’ sales of UITs
09/24/2017
Shari Arison to sell half of her stake in Bank Hapoalim to US investors
Heiress signs preliminary accord with investment firms and institutional investors for the sale of about 49% of Arison Holdings
09/23/2017
US agency claims huge hole in Westinghouse's pension plan
The Pension Benefit Guaranty Corp estimated the pension plan is unfunded by USD 937 million.
09/21/2017
Guggenheim CEO denies links to female exec’s $13M mansion
Court, who has been with Guggenheim since 2010, is on a sabbatical that was expected to end Sept. 1 but was extended 30 days.
09/20/2017
Chinese Fugitive Tycoon Guo Wengui Beats Hedge Fund In U.S. Court As $88 Million Lawsuit Tossed
A hedge fund run by Pacific Alliance Group, which manages $16 billion, sued Guo for $88 million it claimed he owed it in April
09/18/2017
BIS weighs in on central bank digital cryptocurrencies
There has, however, been little consensus on what form these CBCCs should take, which makes the BIS’ intervention very interesting.
09/18/2017
James Harvey Cameron sentenced to 11 years in jail
The judge also ordered Cameron to pay restitution of $1,831,700 to his victims.
09/18/2017
Amendment to the Treaty to Avoid Double Taxation and Prevent Tax Evasion between Argentina and Brazil.
The main amendments of the Protocol include the introduction of provisions that modify the mechanism to avoid double taxation
09/14/2017
Barclays wins end to US litigation over pre-crisis disclosures
The prospect that the plaintiff's loss was caused by the alleged misrepresentations decreases.
09/14/2017
Canada Life Reinsurance Enters Into £1.7bn Longevity Risk Reinsurance Agreement With MMC U.K. Pension Fund
Canada Life Reinsurance continues to develop innovative reinsurance solutions it offers to insurers and reinsurers in many European markets
09/14/2017
Seward & Kissel Study Reveals Side Letter Usage Rising Among Newer Managers
When handled and disclosed properly, they can pave the way for a large investor to come into a fund or seed a new one.
09/14/2017
Credit Suisse: Yet Another U.S. Settlement
The agreement with MassMutual settles claims pending in the United States District Court for the District of Massachusetts related to the sale of 19 residential mortgage-backed securities certificates in 2006 and 2007.
09/13/2017
Bond Dickinson unveils US combination deal
Drake said that Bond Dickinson had been looking to expand via an alliance as opposed to a full merger.
09/12/2017
SEC Is ‘Where Fiduciary Ideas Go to Die’
While consumer advocates say they remain hopeful the SEC will use the DOL rule as a model to expand fiduciary standards to cover brokerage accounts, many are wary.