08/04/2015
Swiss Bank Reaches Resolution under Justice Department's Swiss Bank Program
Individual Income Tax Returns, or IRS Forms 1040, that failed to report their respective interests in their undeclared accounts and the related income.
Legal, Regulation & Compliance
08/04/2015
Three Swiss Banks Reach Resolutions under Justice Department's Swiss Bank Program
Banks Will Collectively Pay Penalties of More than $8.4 Million and Continue to Cooperate with Department
08/04/2015
Islamic Finance Reaches New Level of Shari'ah Governance in U.S.
Azzad Asset Management today announced the successful completion of an independent, external Shari'ah audit and verification of its policies and procedures.
08/04/2015
Federation Centres investors consider legal action over Steven Sewell sacking
JP Morgan's Scott Molloy also sited inconsistency to what shareholders were sold during the merger.
08/04/2015
New York regulator cuts off Promontory Financial from consulting to banks
he investigation, begun in September 2013, related to reports that Promontory prepared and submitted to the department in 2010-11 with findings of its review of certain transactions by Standard Chartered Bank STAN, -1.91% .
08/03/2015
Retired Wells Fargo Exec to Help Ex-Convicts
Wells Fargo Advisors’ former CEO Danny Ludeman launches efforts to help ex-convicts adjust to life after prison.
08/03/2015
Being a Florida lawmaker a path to wealth for many
Their incomes have generally risen, too, by 63 percent on average.
08/03/2015
That’s not cool man! Bank regulators deny pot industry access to financial institutions
Financial institutions were hesitant to provide services to pot sellers, fearing repercussions for dealing with drug money.
08/03/2015
Judge deals hedgie setback in $100M suit against neighbor
New York hedge fund tycoon Louis Bacon must have been on island time.
08/03/2015
ITG Ousts CEO Gasser After Probe
Investment Technology Group’s investigation found Robert Gasser failed to disclose some details of alleged improprieties to board
07/31/2015
Reformers Win Seats on FINRA Board
FINRA’s nominating committee, a subset of the current board, usually hand picks one individual for each seat.
07/31/2015
Silver Law Group Investigates Former Merrill Lynch Broker Thomas Buck
Silver Law Group is investigating claims against Indiana-based stockbroker Thomas Buck, who earlier this week was barred by the Financial Industry Regulatory Authority from associating with any FINRA member firm and was accused by FINRA of improperly ch
07/30/2015
IRS Proposed Rules On Private Equity Management Fee Waivers
These arrangements are increasingly common, but their tax treatment is receiving more scrutiny.
07/30/2015
U.S. must wait for EU hedge fund "passports" - EU watchdog
The European Securities and Markets Authority also said it has not yet reached a view on whether hedge funds and other alternative investment funds from the United States should be given a "passport".
07/29/2015
Wall Street watchdog bars former Merrill Lynch broker
As a result, Buck is permanently barred from selling securities at FINRA member firms.
07/28/2015
SEC To Reject Second Application by Precidian For Non-Transparent ETFs
Eaton Vance Corp, which has received SEC approval to launch similar funds, called exchange-traded managed funds, disclosed the SEC's plans to deny Precidian's applications Monday morning.
07/28/2015
Goldman Sachs Fined $1.8 Million for Reporting Violations
It is critical that firms have the necessary systems and supervision in place to ensure compliance with their OATS and trade reporting obligations
07/27/2015
Insider trading case: Rajat Gupta opts for new legal recourse
In a memorandum submitted in the US District Court in Manhattan on Friday, Gupta is seeking a "certificate of appealability" that will enable him to appeal the ruling made by US district judge Jed Rakoff on July 02.
07/27/2015
Indian-Origin CFO of Aphelion Absolved of Fraud Charges in US
In May 2014, the Securities and Exchange Commission filed a lawsuit against Palathinkal and Vineet Kalucha, the chief investment officer of Aphelion.
07/27/2015
BlackRock says Italy's regulator dismisses charges over Saipem share sale
BlackRock welcomes the decision by the Italian regulator Consob to dismiss all charges against Nigel Bolton and the firm