03/25/2015
US regulators criticise HSBC, RBS and BNP Paribas contingency plans
US regulators said two UK banks needed to improve their contingency plans in case of a catastrophic shock
Legal, Regulation & Compliance
03/24/2015
Merrill Lynch Fined $2.5 Million in Massachusetts
The matter related to an internal presentation made to Merrill executives and financial advisers about transferring client assets.
03/24/2015
Despite Regulatory Advances, Experts Say Risk Remains a Danger to Large Banks
With all the new laws and regulations since the financial crisis, it would be easy to believe that the banking industry is safer
03/24/2015
HSBC, BNP and RBS Faulted on Living Wills by U.S. Regulators
HSBC Holdings Plc, BNP Paribas SA and Royal Bank of Scotland Group Plc must conduct top-to-bottom rewrites of plans showing how they can be safely unwound in bankruptcy before resubmitting the living wills to U.S. regulators
03/24/2015
Total Settlement Dollars for U.S. Securities Class Actions Hit 16-Year Low
Total settlements dropped to $1.1 billion, from $4.8 billion in 2013, primarily due to a lack of large cases. The largest settlement amount in 2014 was $265 million, compared with $2.5 billion in the prior year. According to the report, the number of sett
03/23/2015
International law firm adds one of Nation’s top private client lawyers
She Becomes Head of New Washington, D.C. Private Client Practice
03/23/2015
Zions, Regulators Still at Loggerheads
Postcrisis regime places financial groups of different sizes under the same regulatory umbrella
03/23/2015
Citigroup gets US court's approval to process two Argentine bond payments
The bank said the US District Court for the Southern District of New York allowed it to make interest payments to investors holding $2.3bn of Argentine bonds due at the end of March
03/23/2015
US regulators target Deutsche Bank over Libor
The New York-based Department of Financial Services has started investigating Deutsche Bank over alleged Libor manipulation
03/23/2015
Gibraltar--A Tax Haven--Sues ABC For Calling It A Tax Haven
According to news reports, Gibraltar’s government isn’t going to take being called a ‘tax haven’ lying down.
03/20/2015
Fed urges lawmakers to toughen rules on Wall St and commodities
U.S. lawmakers should consider overturning a decades-old rule that allows Morgan Stanley and Goldman Sachs to extract, transport and trade physical commodities
03/20/2015
NFA charges UBS with unauthorized withdrawal
As the transfer of funds was generated by the firm’s depository, UBS did not obtain written pre-approval of a financial principal
03/20/2015
BNY Mellon to pay $700m over fraud claims
Bank of New York Mellon on Thursday agreed to pay $714m to settle allegations that it committed fraud
03/20/2015
Zions Bancorp Names New Finance Chief After Passing 'Stress Test'
Mr. Arnold joined the company as chief financial officer in late 2001
03/19/2015
Citibank Sues Two Former Goldman Sachs Partners Over $29 Million Swiss Franc Margin Call
There is a lawsuit over a $29 million margin call that hit the joint family office of two former Goldman Sachs partners
03/19/2015
Hedge Fund Betting on Lawsuits Is Spreading
The U.S. Chamber of Commerce warns of wasteful litigation and corruption
03/18/2015
Citigroup, Barclays Close to Settling Forex Lawsuit With Private Investors
Two banks expected to pay as much as a combined $800 million to settle lawsuit
03/18/2015
The Wolf of Wall Street apparently lives and his name is...
Fake Hedge Fund Manager, Who Faked Death Using Fake Employee Is Convicted
03/18/2015
Bank Group Asks For More Leeway to Fight Money Laundering
But five years later, the restrictions are making it harder for U.S. banks to meet anti-money laundering
03/17/2015
US SEC Official Says Worries About ETFs and Market Volatility Overblown
Regulators in both the United States and around the globe have ramped up scrutiny on asset managers in general, including leveraged and inverse ETFs.