04/27/2015
UK bank Barclays must face US fraud lawsuit tied to trading probe
The bank's share price slid 7.4 per cent on the day in June when New York
Legal, Regulation & Compliance
04/27/2015
Sharon Levin to Leave U.S. Attorney’s Office for WilmerHale, Joining Other Ex-Prosecutors
Ms. Levin had become such a fixture in the Manhattan office
04/27/2015
Citibank Loses Key Decision in Investor Lawsuit; Court to Appoint Expert Panel
Citibank this month lost a key decision in its defense of a lawsuit in Abu Dhabi accusing the bank of self-dealing, defrauding investors, and attempting to cover-up investor losses
04/27/2015
Espirito Santo enters agreement with FDIC for bank secrecy and anti-money laundering compliance
Miami-based Espirito Santo Bank entered into an agreement with regulators on Feb. 25 to implement and comply with the strict Bank Secrecy Act and anti-money laundering requirements
04/27/2015
Greenwich Hedge Fund Controller Gets 48 Months Imprisonment
On 32 occasions between 2004 and 2013, HERZING used his position to wire $9,202,417.54 from his employer to accounts that he controlled. Judge Meyer ordered HERZING to pay full restitution.
04/24/2015
Whistleblower receives more than £1m
The US Securities and Exchange Commission has paid a compliance officer between $1.4m and $1.6m
04/24/2015
Firm to Pay $90K in Settlement With SEC Over Sale of Puerto Rico Bonds
StateTrust Investments, Inc. has been penalized $90,000 and censured by the Securities and Exchange Commission in a settlement
04/24/2015
Accused trader Navinder Sarao may have offshore nest egg
Navinder Sarao, the “flash crash” trader who US authorities want to prosecute over claims that he helped wipe hundreds of billions of dollars off the value of Wall Street stocks, may have a hidden $75 million offshore nest egg.
04/23/2015
Ex-Soros Hedge Fund Portfolio Manager Loses Bid for Fees
Cowen had initially sought $19.5 million after his termination in 2011
04/23/2015
Bank of America Challenges $1.3 Billion Mortgage Verdict
Bank of America Corp.’s Countrywide unit urged a federal appeals court to reverse a $1.3 billion fraud verdict finding the company at fault for selling defective residential mortgage loans to Fannie Mae and Freddie Mac.
04/23/2015
RBC Wealth Management fined $1 million for lax oversight of sales tactics
Fines and restitution relate to the improper sales of structured investment products to more than 200 retail investors
04/22/2015
US, UK aim for Deutsche Bank Libor settlement on Thursday – sources
The world’s second-largest foreign exchange trader still faces potential claims or settlements over past issues including alleged attempts at foreign exchange benchmark manipulation and alleged violations of U.S. sanctions on Iran.
04/22/2015
DOL Rule, Anti-Money Laundering Top Priorities for Raymond James
While it’s too early to report specifically where Raymond James stands on the new proposal, Curtis said on the surface, the new DOL proposal appears to be significantly better than the one put forward in 2010.
04/22/2015
New York won't settle with Barclays soon over FX computer programs
New York's banking regulator will not settle with Barclays Plc over foreign exchange trading in coming weeks
04/22/2015
CFTC freezes assets of DG Wealth Management over FX ponzi scheme & client funds misappropriation
The CFTC has issued a complaint alleging that Florida resident Dorian Garcia returned nearly $2.1 million to investors
04/22/2015
NY Bank Regulator Says Currency Probe Could Last Months
Lawsky’s remarks Tuesday at a conference in New York represent a departure from his position in November
04/22/2015
Investment Advisers: Six Areas of Focus for SEC Cybersecurity Exams
The alert also provides a sample document request that lists six primary areas that the OCIE plans to evaluate during cybersecurity exams
04/22/2015
Prominent Insurance Attorney Joins Baker & McKenzie
His insurance practice includes matters related to oil and energy for mutuals
04/22/2015
Boca Raton firm faces civil charges in $1 million precious metals case
The CFTC Complaint charges the Defendants with engaging in illegal, off-exchange transactions in precious metals with retail customers on a leveraged, margined, or financed basis.
04/22/2015
British man held over £500bn Wall Street 'flash crash'
The CFTC Complaint charges the Defendants with unlawfully manipulating, attempting to manipulate, and spoofing — all with regard to the E-mini S&P 500 near month futures contract