08/15/2016
US hedge fund manager charged with fraud
The conspiracy charge carries a maximum term of five years in prison.
Legal, Regulation & Compliance
08/14/2016
NC lawmakers split on whether to bring back Depression-era banking law
While both parties included Glass-Steagall provisions in their platforms, it hasn’t been a major issue on the campaign trail for Trump or Clinton.
08/12/2016
Creditors fear Pacific Andes’ non-US bankruptcies could ‘block’ transfer of Peru assets
In response to the creditors’ filing, Pacific Andes said in an Aug. 10 statement that the matter of the Peruvian subsidiaries was a subject of ongoing discussions with creditors.
08/12/2016
Exclusive: Wall St. banks ask Fed for five more years to comply with Volcker rule
The law on Volcker rule implementation says banks can ask for an extra five-year extension for "illiquid" funds, where banks had contractual commitments to invest.
08/12/2016
SEC charges San Francisco money manager with fraud
He invested as much as $60 million when he never managed anywhere near that sum.
08/12/2016
Will the Panama Papers Lead to Criminal Charges Against U.S. Taxpayers?
“Panama Papers,” detail the creation of hundreds of thousands of business entities and bank accounts in offshore “tax havens”
08/12/2016
SEC Charges Stockbroker and Friend With Insider Trading
The SEC seeks permanent injunctions as well as disgorgement, interest, and penalties.
08/12/2016
SEC Charges Former Professional Football Player With Running $10 Million Fraud
Merrill Robertson Jr., a former player for the Philadelphia Eagles, charged with defrauding investors
08/10/2016
Fugitive Mexican Mayor Claims U.S. Seizure of Offshore Bank Accounts is a Lie
Some of that money was deposited in the Bermuda account and other U.S. bank accounts which was used to purchase real estate in Texas.
08/10/2016
U.S. Said to Prepare Case Against Former Goldman MBS Trader
The SEC is preparing the case, and the two sides may try to reach a settlement, the people said.
08/09/2016
Barclays reaches US$100 million US Libor settlement: NY attorney general
Barclays first of several banks to reach settlement
08/08/2016
Wegelin Whistleblower Couple Awarded $17 Million
The two were awarded $17 million by a U.S. court this week for their role in bringing down Wegelin.
08/07/2016
Trinidad To Legislate FACTA Compliance
Stuart Young, minister in the Office of the Prime Minister, told reporters that the legislation would require the support of the Opposition since it would need a special majority to pass.
08/05/2016
The SEC Had Questions About a Bank of America Executive's $15.5 Million Pay Package
After a back and forth between Bank of America and the SEC, the commission responded in a June 22 letter
08/05/2016
California crimebuster joins Bakers
He joins a Bay Area practice that has 18 former prosecutors on staff, and which is heavily involved in representing clients in Silicon Valley.
08/05/2016
U.S. Appeals Ruling That Throws Out Crisis-Era Bank of America Case
U.S. Appeals Ruling That Throws Out Crisis-Era Bank of America Case
08/05/2016
Neuberger Berman sued for excessive 401(k) fees
Another financial services company has been targeted for costly proprietary investments in its 401(k) plan, leading to allegations of self-dealing at the expense of employees
08/04/2016
New law firm investigating hedge fund Platinum Partners for possible fraud
Investor-rights law firm starts probe against Platinum and its funds
08/04/2016
New York Life Sued In First-Ever 'Index-Fund-Only' Fiduciary Breach
New York Life and its subsidiaries own and operate the MainStay index fund.
08/04/2016
FINRA fines Barclays $1.3 million for order reporting violations
FINRA rules require firms to transmit to OATS complete and accurate data relating to events in the lifecycle of an order, called Reportable Order Events. FINRA found 15 system issues at Barclays Capital that gave rise to OATS reporting violations.