09/24/2015
Alleged Alternative Sales Violations Cost LPL Another $3.3 Million
Consumers must be able to place their trust in their financial advisors and feel confident that their money will be invested appropriately.
Legal, Regulation & Compliance
09/24/2015
SEC Charges Two Philadelphia Area Men For Defrauding Friends And Family In Private Equity
The SEC appreciates the assistance of the Financial Industry Regulatory Authority.
09/23/2015
Standard Chartered faces new scrutiny over Iran business ties
That investigation identified transactions involving Iran that could make the bank vulnerable again to more regulatory sanctions, severe penalties and even potentially suspension or loss of its crucial dollar clearing license.
09/23/2015
‘Troubling’ New Arbitration System Brewing at Morgan Stanley
Advisors can opt out of the program by completing some paperwork by Oct. 2.
09/23/2015
Celeb finance firm accused of racist digs toward client Rihanna
Flynn responded to the charges by defending his company.
09/22/2015
FINRA Fines Down in First Half of 2015
If FINRA continues at its current pace, the report’s authors expect the regulator to issue $75 million in fines for the entire year, compared to the $135 million levied in 2014.
09/22/2015
First Eagle to Pay Nearly $40 Million in SEC Case Over Distribution Fees
First Eagle is settling the case without admitting or denying the charges.
09/22/2015
SEC Takes Aim at Risk in Asset Management
Agency considers rules requiring mutual funds, ETFs to gird against systemic stresses
09/22/2015
U.S. SEC Proposes Rules to Shore Up Liquidity Risk Management For Funds
The plan comes as asset managers have been facing heightened scrutiny by banking regulators over fears their lending and investing activities could pose broader risks to the marketplace.
09/22/2015
Ex-Morgan Stanley Adviser Pleads Guilty to Taking Bank Data
Marsh, who is free on a $200,000 bond, faces as long as five years in prison when he’s sentenced Dec. 7.
09/20/2015
CFTC Charges Florida Company Mintco LLC and Florida Residents Stuart Rubin and Richard Q. Zimmerman with Engaging in Illegal, Off-Exchange Precious Metals Transactions and Defrauding Customers
In its continuing litigation against Mintco, Rubin, and Zimmerman, the CFTC seeks disgorgement of ill-gotten gains
09/20/2015
Canadian Court Dismisses Anti-FATCA Injunction
The lawsuit challenged the constitutionality of the country's involvement with FATCA
09/19/2015
Appleby Offshore Litigation Symposium - 7 October 2015
This is an event for lawyers in New York whose work brings them into contact with offshore entities in Cayman, the BVI or Bermuda.
09/18/2015
Global law firm adds Former Deloitte Tax Principal in New York
“A vital tax practice is a necessary and important part of the firm’s transactional practice, and Eric is nationally recognized as one of the few leading tax lawyers who combine this high level of technical expertise in partnership taxation wi
09/18/2015
Hedge fund manager says he didn't trade on hacked press releases
The U.S. Securities and Exchange Commission said the scheme allegedly resulted in more than $100 million of illegal profit over a roughly five-year period.
09/18/2015
Tax crackdown on American expats prompts new rush to renounce citizenship
A record number of American expatriates renounced their citizenship in the first quarter of 2015 because of crackdown on foreign bank accounts by the US tax authorities, according to a CNBC report.
09/17/2015
Some Money-Fund Managers Have Power to Claw Back Waived Fees
A decision by the Federal Reserve this week to raise interest rates would help money-fund managers scale back or eliminate the waivers.
09/17/2015
Baker & McKenzie recruits litigation lawyer
Puggina assists foreign and domestic clients in negotiating and drafting agreements and helps companies in the US and Latin America with intellectual property matters.
09/17/2015
IRS Seeks Identities of Americans with Undisclosed Belize Bank Accounts
Americans with secret accounts in Belize should take notice: the government is looking for you.
09/17/2015
CFTC Orders Australia and New Zealand Banking Group Ltd. to Pay a $150,000 Penalty for Inaccurate Large Trader Reports for Physical Commodity Swap Positions
The CFTC Order requires ANZ to pay a $150,000 civil monetary penalty and to cease and desist from committing further violations of the CEA and CFTC Regulations, as charged.