09/05/2016
HSBC'S Foreign-Exchange Dealings Under Scrutiny Again
Such an incident of suspected malpractice is nothing new for HSBC, a bank that has regularly caught the attention of US regulators in recent times.
Legal, Regulation & Compliance
09/02/2016
BNY Mellon Says Ex-Atherton Owners Poached Bankers, Clients
The lawsuit names as defendants the new firm, Lyell Wealth Management LLC and its co-founders, all of whom worked for of Menlo Park, California-based Atherton.
09/02/2016
Yesterday, outraged by Apple’s tax dodge. Today, by its tax bill.
Most lawmakers and business groups do not see it that way.
09/02/2016
Good Technology Investors Sue J.P. Morgan, Claiming Conflicts
In an amended suit in Delaware Chancery Court, Good’s shareholders said that J. P. Morgan, the start-up’s banker, had faced so many conflicts of interest in its dealings
09/01/2016
RBC to Pay $2.5 Million for Proxy Statement Disclosure Violations
The SEC found that RBC’s presentation described one of its valuations as being based on Wall Street analysts’ “consensus projections” of Rural/Metro’s 2010 adjusted EBITDA, a pretax earnings figure.
08/31/2016
Five Areas Where We Need Regulatory Balance
In sum, the state of the American banking system is something both bankers and regulators can take pride in.
08/30/2016
Pershing Offers New Mutual Fund and ETF Solutions for Emerging and Mass-affluent Investors
New offering from Lockwood also assists registered reps looking to transition to fee-based advisory mode
08/30/2016
Buyout firms' hushed deals with top investors risk US regulators' ire
The so-called co-investments allow institutional investors such as pension funds and sovereign wealth funds to invest in target companies.
08/26/2016
Private Equity Fund Advisers Agree to Settle Charges of Improperly Disclosing Acceleration of Monitoring Fees and Improperly Supervising Expense Reimbursement Practices
The SEC found that the monitoring agreements allowed Apollo, upon the triggering of certain events, to terminate the agreement and accelerate the remaining years of the monitoring fees to be collected in a present value lump sum termination payment.
08/26/2016
SEC Adopts Rules to Enhance Information Reported by Investment Advisers
The amendments will improve the quality of information that investment advisers provide to investors and the Commission.
08/26/2016
Investment Advisers Paying Penalties for Advertising False Performance Claims
The firms repeated many of F-Squared’s claims while recommending the investment to their own clients without obtaining sufficient documentation to substantiate the information being advertised.
08/26/2016
War of words hots up between US and EU over tax avoidance
US accused of ‘acting like a tax haven’ for threatening retaliation against Brussels’ anti-trust investigations into Apple, Amazon and Starbucks
08/26/2016
Merrill Lynch Faces Allegations of Labor Law Violations
The plaintiffs seek damages, interest and attorneys fees, among other relief.
08/25/2016
SEC fines Wilbur Ross' firm $2.3 million over fees
An SEC investigation found that WL Ross advises the WLR Funds and other private equity funds, as well as separately managed accounts and co-investment vehicles.
08/25/2016
Duke files claim of $10 million against estate of deceased alum
Michael Schoenfeld, vice president for public affairs and government relations, wrote Duke’s claim was a “routine transaction”
08/25/2016
UBS whistleblower exposes 'political prostitution' all the way up to President Obama
Birkenfeld's book about the UBS Swiss banking investigation, Lucifer's Banker, is published in October.
08/24/2016
Apollo to Pay $53 Million Over Claims It Misled Investors
Wall Street’s top cop has made policing private equity fees a priority.
08/24/2016
Chicago lawyer sues Oxford Financial over management of late father's trust, lost investment returns
According to the lawsuit, Oxford Financial oversees more than $20 billion in assets for more than 700 families and investment groups in at least 37 U.S. states.
08/22/2016
One Policy to Rule Them All: Why Central Bank Divergence Is So Slow
The focus on the Fed raising rates masks the global easing in monetary policy
08/22/2016
Baker & McKenzie rakes in $2.62 billion in revenue
Several practices bolstered revenue: banking and finance, capital markets and M&A, antitrust, employment, intellectual property and trade and commerce.