09/27/2015
Breaking away for the wrong reason
Regulators are concerned that brokers are jumping into the RIA channel to take advantage of a lax regulatory climate
Legal, Regulation & Compliance
09/25/2015
Sullivan & Cromwell launches second segment of Financial Institutions Insights, an ongoing video series to share insights on key industry developments.
The interviews are conducted by Lee Pacchia, Founder and CEO of Mimesis Law.
09/25/2015
Deutsche Bank must face $190 mln US tax fraud case
The government accused Deutsche Bank of using shell companies to avoid capital gains taxes on Bristol-Myers Squibb
09/25/2015
Deutsche Bank must face fraud case
The government accused Deutsche Bank of using shell companies to avoid capital gains taxes on Bristol-Myers Squibb
09/25/2015
Ex-SMBC Nikko Executive's Insider-Trading Conviction Upheld
The Tokyo High Court rejected his appeal, finding “no fault” in the original judgment, Chief Judge Takaaki Oshima said Friday.
09/25/2015
Bill Proposed to Give Regulatory Protection to Puerto Rico Mutual Fund Investors
The bill, if it becomes law, will not replace the money the investors have lost
09/25/2015
S.E.C. Turns Its Eye to Hidden Fees in Mutual Funds
The S.E.C. said that from January 2008 through March 2014, First Eagle improperly billed its investors $25 million for payments
09/25/2015
Bill Proposed to Give Regulatory Protection to Puerto Rico Mutual Fund Investors
The bill, if it becomes law, will not replace the money the investors have lost
09/24/2015
FBI investigates PM Najib Razak
Both the Wall Street Journal and the New York Times have separately reported that the FBI and the US Justice Department were now scrutinising the flows
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.
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