05/18/2016
US must sign beneficial ownership deal first, says Caymans
The premier admitted that his comments were received with hostility, but it was an opportunity he could not pass up, reports Cayman News Service.
Legal, Regulation & Compliance
05/17/2016
US bankers could lose bonuses in clawback plan
American bank executives are set to have to wait longer to receive their bonuses, take more of the awards in shares rather than cash, and face “clawback” if they misbehave.
05/17/2016
Regulators Seek To Limit Bonuses For Risk Taking At Big Banks
Dodd-Frank law is the impetus for limiting incentive for excessive risk taking with public funds
05/17/2016
SEC Joins FBI in Transition Management Charges
The US Securities and Exchange Commission has filed fraud charges against former State Street executive Ross McLellan, the regulator announced on Friday.
05/16/2016
The marijuana industry is in a 'catch-22'
The chief problem with the marijuana industry boils down to a states' rights issue.
05/16/2016
UBS Urges Judge Not To Hold It Liable For Mortgage Bond Losses
UBS AG urged a U.S. judge on Friday to reject claims that it should be held liable for $2 billion in losses that investors incurred on mortgage-backed securities issued before the collapse of the U.S. housing market.
05/16/2016
US Exposes Global Finance Firms' China 'Influence-Peddling'
The Securities and Exchange Commission and the Department of Justice began investigating the recruitment programs of major investment banks three years ago, to see whether they violated the Foreign Corrupt Practices Act by hiring the friends and relatives
05/16/2016
Bill Clinton’s Nonprofit Donated $2 Million To Rumored Mistress’ Energy Company
Radar told you first! An old flame of Bill Clinton‘s has popped up again, causing yet another distraction for Hillary Clinton‘s campaign for the presidency.
05/16/2016
Ireland's first US whistleblower millionaire: is it only a matter of time?
We don't pay whistleblowers for helping regulators - but the SEC will pay serious money for info on US corporate wrongdoing
05/16/2016
Litigation Financing Attracts New Set of Investors
Pension funds, others invest in portfolios of commercial lawsuits
05/13/2016
Citigroup Said to Disband Raytcheva’s Proprietary-Trading Team
Citigroup Inc. disbanded a team of traders who used the bank’s own money to make bets in U.S. Treasury and agency bond markets
05/13/2016
Raymond James Named in Two Investor-led Class Action Suits
The EB-5 visa program is designed to reward foreign nationals with U.S. permanent residency green cards as a result of investing in projects that create jobs.
05/12/2016
SEC Charges Father, Son, Others in Tribal Bonds Scheme
The SEC further alleges that instead of investing bond proceeds as promised in annuities to benefit the tribal corporation and generate sufficient income to repay bondholders, the money wound up in a bank account in Florida belonging to a company controll
05/12/2016
NY regulator wants info from Goldman, banks on Panama firm dealings
Representatives for BNP Paribas SA and Canadian Imperial Bank of Commerce did not immediately return calls requesting comment.
05/12/2016
Withers Bergman law firm expands Greenwich presence
The office is also designed to foster collaboration among Withers attorneys, who regularly work together in an integrated fashion to address complex client issues across the firm’s resources in New York, California and internationally.
05/11/2016
Zurich Supreme Court confirms data transfer blocking in favour of bank employee
The court considered that the bank employee would fear criminal investigations in the United States once his identity became known, severely endangering the employee.
05/10/2016
Ex-Julius Baer Banker Said to Help U.S. in FIFA Laundering Probe
Burzaco pleaded guilty to money laundering, racketeering and wire fraud conspiracies, admitting he used several banks over almost a decade to launder bribes to soccer officials.
05/10/2016
CFTC Fines Chicago FCM $150K over Several Historical Reporting Violations
The Order requires Cunningham and Russo jointly to pay a civil monetary penalty of $150,000 and permanently prohibits them from further violations of the CFTC Regulations, as charged.
05/10/2016
Madoff Sons' Fight Over Cash Endures Long After Their Deaths
The brothers, who held senior roles at their father’s now-defunct securities business, had to have known about the fraud, trustee Irving Picard claims as he readies another bid to get the estates’ cash.
05/09/2016
Allen & Overy announces 35 new Counsel promotions
The 35 promotions span the Banking, Corporate, Employment, ICM, Litigation, Real Estate and Tax practices and are effective as of 1 May 2016.