01/26/2016
IRS Still Hunts Offshore Accounts As More Foreign Banks Sign Deals With U.S.
The IRS updated its list of foreign banks where accounts trigger a 50% rather than 27.5% penalty in the IRS’s long-running Offshore Voluntary Disclosure Program.
Legal, Regulation & Compliance
01/26/2016
Cybersecurity Disclosure Act of 2015: What you need to know now
Bottom line: Be proactive, prepared and aware
01/25/2016
Regulation: What’s in Store for the Alternative Investment Sector in 2016?
Cybersecurity was one of the most important issues for alternative investment firms during 2015.
01/25/2016
Alvarez & Marsal Announces 2015 Managing Director Promotions
Their innovative thinking and vision will strengthen our ability to serve our clients, drive transformation and create value around the world.
01/25/2016
Ex-Summit Wealth COO Indicted For $15M Investment Fraud
Former Summit Chief Operating Officer Angelo Alleca and former fund administrator Mark Morrow were arraigned in Georgia federal court.
01/24/2016
Wall Street’s battle of the bankers
Legal case could draw attention to the industry’s hiring and retention policies
01/22/2016
Bank of China submits records in Gucci case after fines
Sullivan initially ordered Bank of China to turn over customer records in 2011. He renewed his order in September, after a federal appeals court told him to revisit the matter.
01/22/2016
Bank of China targeted by US for money-laundering controls
In the OCC action, which was signed last month by Chen Xu, head of the bank's New York branch, the lender's US division agreed to fix policies for finding and reporting suspicious behavior among its customers, keep better track of currency trans
01/21/2016
SEC Settles Charges With Fund Manager for Misleading Investors
TFF’s registration statements disclosed that Equinox charged management fees based upon the net asset value (NAV) of each series.
01/21/2016
Ocwen to Pay $2 Million in SEC Settlement
The case was supervised by Daniel Michael and Steven Rawlings.
01/21/2016
Marijuana Inc. eyes Mexico as drug liberalization looms
From medical marijuana growers to pot private equity firms
01/19/2016
Brazil offshore tax amnesty signed into law
Residents of Brazil with undeclared offshore assets can now voluntarily declare and regularise their tax affairs without facing criminal prosecution and only face a one-off charge and penalty.
01/15/2016
CFTC Orders Otkritie Capital International, Ltd. to Pay a $140,000 Civil Monetary Penalty for Violating a CFTC Registration Regulation
The CFTC Order requires OCI to pay a $140,000 civil monetary penalty and to cease and desist from further violating CFTC Regulation 30.4, as charged.
01/15/2016
SEC Charges State Street for Pay-to-Play Scheme
The SEC filed a complaint against Crowe today in U.S. District Court for the Southern District of Ohio.
01/15/2016
HSBC fights to stop money-laundering report going public
The bank is arguing in US courts that it could be left vulnerable to money laundering if the report is published.
01/15/2016
Ex-Foundry executive loses insider trading appeal in U.S.
The 2nd U.S. Circuit Court of Appeals in New York upheld the 2014 trial conviction and subsequent prison sentence of David Riley
01/15/2016
The CFTC brings (and settles) its first insider-trading case: implications for all private fund managers
Among other things, managers should consider extending the scope of their current insider-trading protection efforts to commodities trading
01/14/2016
Ex-Hedge Fund Manager Martin Shkreli Indicted on Securities Fraud Charges
This matter concerns investors in a pair of hedge funds (the MSMB Funds) that Shkreli founded with a business partner.
01/14/2016
The Coming SEC Sweep in Hedge Funds
Operating Partners have become an important part of the private equity model because they provide consulting services for the Fund
01/12/2016
U.S. Supreme Court Rejects Former UBS Executives' Appeals
They had argued that prosecutors waited too long to bring wire fraud and conspiracy charges.