06/27/2023
Banks raised questions in 2020 about FTX-affiliated hedge fund's wire activity, FTX says
Bankman-Fried has pleaded not guilty to 13 counts of fraud and conspiracy.
Legal, Regulation & Compliance
06/22/2023
The Toronto-Dominion Bank Receives Regulatory Approval for Normal Course Issuer Bid
As previously announced, TD intends to launch a new normal course issuer bid to repurchase for cancellation up to 30 million of its common shares.
06/21/2023
Dimon may have ordered JPMorgan's review of Epstein ties, Virgin Islands says
Internal emails show that following Epstein's July 2019 arrest on sex trafficking charges, JPMorgan conducted a review known as "Project Jeep"
06/20/2023
BofA: Crypto Sentiment 'Remains Poor' Following SEC Actions
The bank also projects that blockchain infrastructure and tokenization will “transform financial and non-financing infrastructure and markets over the next five to 10 years.”
06/19/2023
PIMCO charged by US SEC over disclosure and procedures failures
$9m settlement
06/13/2023
JPMorgan has reached an agreement to settle Jeffrey Epstein victim’s lawsuit—but its problems with the sex trafficker aren’t over
The deal with the victim identified only as Jane Doe doesn’t end JPMorgan’s legal headache over its ties to Epstein.
06/12/2023
U.S. banks struggle to meet Mifid regulations
This critical situation unfolds as U.S. banks and brokers servicing European clients face the daunting prospect of losing a U.S. regulatory “free pass”.
06/12/2023
FirstFT: Expect more US interest rate rises, economists warn
Also in today’s newsletter, Silvio Berlusconi dies, and UBS’s ‘red lines’ for Credit Suisse staff
06/09/2023
Canada Life suspends relationship with Odey wealth management unit- statement
A Canada Life said the company would not be accepting any new fund flows.
06/07/2023
Canaccord board recommends rejecting MBO offer
Due to a regulatory snag
06/06/2023
SEC files 13 charges against Binance and Changpeng Zhao
Binance was to create 40 Bermuda jobs, at least 30 of them Bermudian and spend up to $10 million on training for Bermudians in blockchain technology development.
06/02/2023
Vanguard fined for providing misleading account statements to its customers
The regulatory organization said Vanguard "accepts and consents" without admitting or denying the findings
06/02/2023
DLA Piper lawyers and practices ranked in Chambers USA 2023
The annual rankings are based on extensive research by Chambers & Partners Publishing.
06/02/2023
JPMorgan to Close 21 First Republic Branches
“Clients should expect to continue to receive the same level of service with seamless access to their money.”
06/01/2023
A bumpy path to US dollar weakening
The dollar has held its ground in 2023 to date, even amid ongoing turmoil in America’s regional banking sector and a political crisis over the US debt ceiling.
06/01/2023
Captrust adds Fort worth's Omega wealth Partners
The three will join CAPTRUST along with six additional colleagues.
05/31/2023
U.S. regulators have tools to handle banking turmoil: ex-comptroller
Fed response to SVB collapse bogged down by legal restrictions, Eugene Ludwig says
05/24/2023
US regional banks swap $220bn in deposits to soothe insurance nerves
Use of ‘reciprocal’ accounts jumped as turmoil enveloped financial sector
05/23/2023
Wells Fargo Agrees to Pay $1 Billion to Settle Pension-Led Lawsuit
Mississippi’s public employees' fund, a Louisiana sheriffs’ fund and the state of Rhode Island were among the lead plaintiffs.
05/22/2023
AI-Generated Recommendations Can Still Fall Under Reg BI, FINRA Exec Warns
Firms using AI tech to generate ‘customized’ suggestions for clients may not realize those recommendations still fall under the best interest rule, warned a senior director at FINRA's annual conference.