07/08/2014
U.S. regulators begin settlement talks with Commerzbank, Deutsche Bank - source
Commerzbank had 934 million euros (741 billion pounds) at the end of 2013 as provision for litigation risks
Legal, Regulation & Compliance
07/08/2014
Investor Suit Over $3.7B CorpBanca Merger Loses 9 Defendants
Cartica Management LLC on Friday agreed to voluntarily drop the nine defendants from the case
07/07/2014
Ex-Merrill CEO says he has 'no knowledge' of Google search wipe
The previous day, BBC economics editor Robert Peston suggested O'Neal may have asked the search engine to exclude a 2007 blog post that mentioned him from its results under a European privacy rule.
07/07/2014
Soros Hedge Fund Sued by Ex-Manager Seeking Back Fees
George Soros’s hedge fund was sued by a former portfolio manager who claims the firm wrongfully withheld at least $19.5 million in unpaid fees after firing him without explanation eight months into the job.
07/04/2014
JPMorgan Said to Have Unwittingly Helped BNP’s Transfers
The Paris-based bank relied on a legal memo that suggested using a U.S. bank might protect it from sanctions penalties, according to the statement of facts filed by prosecutors in New York.
07/04/2014
Ex-Jefferies trader loses bid to overturn fraud conviction
Prosecutors had accused the trader of swindling customers
07/04/2014
U.S. may probe Nigerian banks over terror funding
The development was sequel to BNP Paribas’ guilty plea and agreement to pay nearly $9 billion for violating U.S. sanctions, which has now triggered fresh enthusiasm on the U.S. Justice Department to also extend its investigations to Africa, especial
07/03/2014
After BNP Paribas, US may hit other banks for sanctions-busting
The blow raised speculation that some of its rivals in Europe would be punished, but less severely.
07/03/2014
Vatican financial watchdog signs accord with U.S. Treasury Department
This is the latest example of the authority’s efforts to build international cooperation and prevent a repeat of the corruption scandals
07/03/2014
Goldman in court over 'boys' club'
A lawyer representing the plaintiffs expects the judge to rule on the motion by the end of the year.
07/03/2014
FINRA Bars Broker for Insider Trading in Japanese Securities
FINRA found that Allen's conduct violated FINRA Rules to observe high standards of commercial honor and just and equitable principles of trade.
07/03/2014
CWCapital Sued by Stuyvesant Town Lenders Over Takeover
Centerbridge controls the six limited liability companies named as plaintiffs in the complaint filed in New York State Supreme Court in Manhattan, said two people with knowledge of the matter, who asked not to be identified because the information is priv
07/02/2014
Withers appoints seven new international partners
Withers has announced the appointment of seven new partners across the firm's international offices and practice areas. The appointees' new roles took effect from 1 July 2014.
07/02/2014
Exclusive - U.S. SEC official dissented on BNP Paribas waiver
An official at the U.S. Securities and Exchange Commission broke ranks with other commissioners and voted against granting BNP Paribas a waiver to continue operating several investment advisory units in the United States.
07/01/2014
BNP Paribas fined a record $8.9bn
BNP Paribas was hit with a record $8.97bn (£5.2bn, €6.5bn) fine last night for violating US sanctions between 2004 and 2012.
07/01/2014
Goldman Sachs fined over dark pool pricing
The Order Protection Rule generally requires that trading centers trade at the best-quoted prices or route orders to the trading centers quoting the best prices.
06/30/2014
Two more arrests in IBM-SPSS insider trading scandal
Martin, a research analyst at Royal Bank of Scotland in New York, shared the information with his housemate Thomas Conradt
06/30/2014
Implications Of AIFMD For U.S.-Based Hedge Fund Managers
The European Directive on Alternative Investment Fund Managers came into force in July 2011 and was required by law to be implemented in all 28 EU member states (plus Norway, Iceland and Liechtenstein) by July 2013.
06/30/2014
Madoff Trustee Rejected by U.S. High Court on Bank Suit
Picard argued in his appeal that the banks “are as responsible as Madoff for the enormous magnitude of customer losses.”
06/30/2014
NY Lawsuit Deals A Blow To Barclays' Dark Pool Trading Operations
The lawsuit listed several problems with the dark pool POOL -1.57% – called Barclays LX (Liquidity Cross) alternative trading system – such as falsifying data about the concentration of high-frequency traders in the private market,