05/17/2022
Family Office Considerations Relating to Partnership Audits
Since Family Offices may be in a position of management, this is a particularly sensitive issue for family office professionals.
Legal, Regulation & Compliance
05/16/2022
Goldman Agrees to Settle Suit
Settlement funds will be used to boost compliance at bank
05/16/2022
Goldman Agrees on 1MDB Shareholder Settlement
In 2012, Goldman issued $6.5 billion of 1MDB bonds which generated $600 million in fees.
05/13/2022
Legislators and Council of Institutional Investors Voice Support for SEC Cybersecurity Proposal
One commenter cautions that public reporting could unintentionally give criminals access to sensitive information.
05/11/2022
They Don’t Know What They are doing
What’s even more intriguing is the fact that two members of the committee voted to leave the policy rates unchanged, while three other members were in favour of raising the rates more substantially.
05/10/2022
SEC Extends Comment Period for Proposed Rules on Climate-Related Disclosures
The public comment period for the proposed rulemaking "The Enhancement and Standardization of Climate-Related Disclosures for Investors,"
05/04/2022
"open banking" rule bogged down by privacy concerns
Such advocates say open banking will make it easier for non-banks like technology companies to compete with traditional financial institutions
05/04/2022
Three reasons why odds of US recession are high
A hoped for soft economic landing seems unlikely as the Federal Reserve seeks to restore price stability.
05/03/2022
US FinCEN Warns Financial Institutions About Activities of Kleptocracies and Foreign Corruption
This Legal Update summarizes some of the key points that FinCEN highlighted to help financial institutions identify potential indicators of kleptocracies and corrupt foreign public officials.
05/02/2022
Credit Suisse sued in U.S. over alleged business related to oligarchs
The law firm alleged disclosure shortcomings around a securitisation deal.
05/02/2022
SEC proposes expansive climate-related disclosure rules
Under the new rules, companies would be obligated to present sweeping and detailed climate-related disclosures in their annual reports and registration statements.
04/29/2022
Medley Management and Former Co-CEOs to Pay $10 Million Penalty for Misleading Investors and Clients
Settlement Structured to Expedite Payment to Bondholders Through Related Bankruptcy Proceeding
04/28/2022
Four Charged In Connection With Multi-Billion Dollar Collapse Of Archegos Capital Management
Sung Kook (Bill) Hwang – the Founder and Head of Archegos – and Three Others Charged with Racketeering and Fraud Offenses Related to Market Manipulation Scheme
04/26/2022
SEC Proposes Broad Emissions Disclosure Rules
The proposed rules cover information provided to investors related to greenhouse gas emissions and climate change risks
04/25/2022
Bank of America blocks funds of Russian Consulate General in New York: Russian diplomat
Earlier in the day, Russian Ambassador Anatoly Antonov said that Bank of America closed the accounts of two Russian consulates general in Houston and New York.
04/25/2022
Bankers defend fees and fairness
The bankers allege that the bureau has already concluded that the financial services market is not competitive, and that fees are hidden and hurt consumers.
04/22/2022
Credit Suisse's U.S. Pension Business Under Threat
Institutions or individuals that manage pensions overseen by the Labor Department are required to get permission to continue operations in the event of certain criminal convictions.
04/22/2022
New Laws Targeting Assets of Russian Oligarchs: The U.S. Announces Task Force KleptoCapture and the Kleptocracy Asset Recovery Rewards Program
Task Force KleptoCapture will operate out of the Office of the Deputy Attorney General, but will also include agents and analysts from numerous law enforcement agencies.
04/22/2022
US SEC’s Climate Risk Disclosure Proposal Likely to Face Legal Challenges
Though some companies voluntarily report climate-related information, currently there are not any standardized requirements imposed by the SEC.
04/21/2022
UBS U.S. Legal Dispute Ends With a Wire Transfer
The officer was fired in 2018, and sued the firm later that year for defamation, initially winning an $11.1 million award following arbitration.