07/21/2016
British HSBC executive is arrested over '£2.7BILLION exchange rate rigging scam' as he lands at JFK airport and is thrown in a New York jail
The alleged fraud occurred in November and December 2011
Legal, Regulation & Compliance
07/20/2016
Dez Bryant Sues Former Financial Advisor
The suit contends that Royce West, a Texas State Senator, breached his fiduciary duty, exhibited gross negligence and performed fraud in attracting marketing and endorsement deals for Bryant, sometimes without Bryant's knowledge.
07/20/2016
New Conflict Of Interest Concerns: SEC Fines RIAs For BD Loans
Washington Wealth Management, now known as Kestra Private Wealth Services, was fined and censured $50,000 by the SEC for failing to disclose $1.8 million in loans from its broker-dealer to clients.
07/18/2016
CRA plans ‘lifestyle audits’ in Vancouver as part of real estate probe
She welcomed the investigation by the CRA, which has assigned 70 auditors to examine real estate transactions in Metro Vancouver.
07/15/2016
New U.S. banking rules creating financial headaches in Caribbean
In Jamaica, U.S. bank account holders are receiving notice to take their money elsewhere.
07/15/2016
SEC Charges Investment Adviser With Failing to Clearly Disclose Additional Costs to Investors
An SEC investigation found that Richmond, Va.-based RiverFront Investment Group disclosed to investors in Forms ADV that client trades were typically executed through the sponsoring broker so the wrap fee would cover the transaction costs.
07/15/2016
Rebaza, Alcázar & De Las Casas announces new practice
The Private Client team will comprise Rebaza himself, Camilo Maruy, partner and head of the tax department and three more associates.
07/15/2016
CFPB Fines Santander Bank $10 Million For Overdraft Practices
Santander Bank, found to have violated the “opt-in rule,” agreed to give consumers the opportunity to provide their affirmative consent to overdraft service and to increase oversight of vendors it uses to market consumer financial products or
07/14/2016
SEC Proposes Making Brokers Reveal Where Client Orders Go
Brokers would also need to publicly release the details on an aggregate level in reports, which would be posted on the SEC’s website.
07/14/2016
American Bankers Association: “Banks Have Always Embraced Innovation”
It was interesting to hear all of the witnesses share their perspectives on the nascent online lending sector.
07/13/2016
HSBC avoided criminal charges over fears of ‘systemic risk’
The bank identified about 2,200 of its 35,000 Cayman Islands U.S. dollar accounts as high risk because of either suspicious activity or due to a lack of information about the account owners.
07/13/2016
Warns Federal Reserve Against Rate Hikes Amid Banking Contagion
The Fund's main concerns are the looming fallout in the banking sector, potential Brexit spillovers and the ongoing creeping slowdown of the overall US economy.
07/12/2016
This Lawyer Felt an Irresistable Tug Back to Big Law
They departed Big Law to form their own boutique
07/11/2016
Law industry's alternative-fee pioneer pivots
But the number of firms saying they, too, offer pricing choices has risen, making it harder for Valorem, despite its early embrace of alternative fees.
07/11/2016
Smoked: Reg CF Doesn’t Work for Marijuana Industry Entrepreneurs
As with most startups, seed capital is needed to get things going.
07/11/2016
The SEC's case against Dawn J. Bennett
The adviser boycotted her enforcement hearing, but that may not stop the regulator from throwing her out of the securities industry
07/08/2016
Bank Cyber Attacks Said to Prompt Fed to Prepare New Safeguards
The Federal Reserve is leading other agencies in crafting the protections, which would be minimum standards, said the people who asked not to be named because work on the measures isn’t public.
07/08/2016
DOJ Investigating Facebook for Suspected Irish Tax Dodge
The court filing says the documents relate to an IRS examination of the company’s federal income tax liability for the year ending Dec. 31, 2010.
07/07/2016
Top Dallas Law Firms Merge with Launch of Loewinsohn Flegle Deary Simon
New 15-lawyer firm handles high-stakes litigation, employment, bankruptcy, GC services
07/07/2016
Investment adviser to plead guilty to running a $21 million Ponzi scheme
Patrick E. Churchville also accused of using $2.5 million of investor funds to help him buy a house in Barrington, R.I.