09/27/2023
US Regional View: Higher for longer
The result of last Wednesday’s Federal Open Market Committee (FOMC) meeting turned out to be more eventful than most investors were anticipating.
Legal, Regulation & Compliance
09/27/2023
JPMorgan agrees to pay $75 million in pending settlement with U.S. Virgin Islands in Jeffrey Epstein case
The firm will continue to work with law enforcement to combat human trafficking and help to identify improper money movement into the global payments systems.
09/26/2023
Deutsche Bank Subsidiary DWS to Pay $25 Million for Anti-Money Laundering Violations and Misstatements Regarding ESG Investments
To settle the charges, DIMA agreed to pay a total of $25 million in penalties.
09/25/2023
The activist sued by Elon Musk: ‘We have to show we will not be cowed’
The activist sued by Elon Musk: ‘We have to show we will not be cowed’
09/20/2023
Ex-Deutsche Bank investment banker pleads guilty to crypto fraud
U.S. prosecutors and regulators have been working to crack down on fraud involving digital assets.
09/20/2023
SEC predicts further crypto charges as enforcement battle continues
We're going to continue to be active as to intermediaries.
09/20/2023
Morgan Stanley faces $750M lawsuit over rail-line lending
Two private-equity firms accused the bank of breach of contract and fraud over the restructuring of a deal involving investments in a loan to high-speed rail operator Brightline Holdings.
09/20/2023
Crown Agents Bank agrees talent partnership with US Department of State
The partnership aims to facilitate knowledge sharing between the two organisations around cross-border transactions for hard-to-reach markets.
09/19/2023
Researchers find regulator communication may ease bank runs
News of the failure did not affect those who previously knew about SVB’s situation.
09/13/2023
$1.5 Trillion Asset Manager Franklin Templeton Files For US Bitcoin ETF
Franklin Templeton has filed a regulatory Form S-1 with the U.S. Securities and Exchange Commission (SEC) seeking approval for a spot Bitcoin ETF.
09/11/2023
JPMorgan Chase, Goldman Sachs, UBS and Morgan Stanley Agree To Pay $499,000,000 Over Anti-Competitive Accusations
The pension funds accuse the banks of trying to corner the market with their own system called EquiLend, while hindering the development of new platforms that would execute the borrowing and lending of electronic securities.
09/11/2023
Wells Fargo Fake Accounts Settlements Nears $5 Billion Mark
Federal authorities found that Wells Fargo’s aggressive sales goals led employees to open millions of fake accounts for customers to meet their targets.
09/08/2023
US Faster Payments Council announces Board Advisory Group members
Our Board Advisory Group has a shared vision for the future of faster payments and we’re greatly appreciative of their commitment to the FPC’s mission
09/07/2023
New Proposals to Raise SALT Cap Disproportionately Benefit the Wealthy
A new report urges against the changes.
09/05/2023
Bank of Canada expected to hold rates steady as economy stalls
The Bank of Canada first paused its tightening campaign in January
09/05/2023
Fed Governor Waller agrees the central bank can ‘proceed carefully’ on interest rates
While he was encouraged by the recent reports on where prices are trending, he said they also indicate that the Fed can afford to hold rates higher until it is sure inflation is on the run.
09/05/2023
HSBC-Royal Bank of Canada (RY) Deal Gets Competition Bureau Nod
The last time a merger of this magnitude was attempted in Canada was in the early 1990s when RY sought to acquire Bank of Montreal BMO, but the deal was blocked by regulators.
09/04/2023
Fed warns Goldman over fintech unit risk - FT
The issue relates to a team within TxB responsible for providing banking infrastructure to fintech clients such as Stripe and Wise.
08/31/2023
Bank accused of redlining says DOJ unfairly linked it to a race atrocity
Executives of the Collinsville, Oklahoma, bank denied wrongdoing. In a press release late Monday, they said they entered into the settlement "to avoid the cost and distraction of protracted litigation."
08/30/2023
CIMA: Cayman insurance industry strengthening
The new additions means that there are now 675 Class B, C and D insurance companies licensed in Cayman, with approximately $22 billion in premiums written and $71 billion in total assets.