08/26/2013
U.S. Dismisses Thousands of Claims Against Arab Bank
Jordan’s largest lender, the Arab Bank, announced this week that a New York federal court dismissed more than 90 percent of the claims in a long-running lawsuit
Legal, Regulation & Compliance
08/26/2013
Conyers advises Third Point Reinsurance Ltd. on US$275 million IPO
Conyers Dill & Pearman provided Bermuda legal advice to Third Point Reinsurance Ltd
08/26/2013
Dubai court dismisses Kuwaiti Sheikh's $21 million claim against UBS
The case highlighted the complexity of doing business in the Gulf
08/26/2013
Two Shreveport businesses guilty of money laundering, wire fraud, tax evasion
The defendants’ scheme revolved around the sale and financing of used and new vehicles to individuals who derived Read more: ZacharyToday.com - Two Shreveport businesses guilty of money laundering wire fraud tax evasion
08/25/2013
Private Equity Funds Potentially Liable for the Pension Obligations of their Portfolio Companies
This was a case of first impression for the First Circuit. Two conditions were present that led to liability under Title IV for the private equity fund in this case.
08/25/2013
UBS Financial Services Agrees To Pay $4.58 Million To Settle A Multi-State Investigation
UBS Financial Services, Inc. has agreed to pay $98,184.84 in civil penalties to the New Jersey Bureau of Securities
08/25/2013
U.S. top court dismisses shareholder case against UBS
The high court had been due to rule on the case in the term starting in October
08/25/2013
Billionaire Blavatnik Wins $42.5 Million JPMorgan Award
Billionaire Leonard Blavatnik won a $42.5 million breach of contract award against JPMorgan Chase & Co. over claims the bank stuffed a fund with risky mortgage securities and lost 10 percent of his $1 billion investment
08/24/2013
Three Charged With Stealing Flow Traders Trading Software
Two men who were employed by Flow Traders were charged in New York with stealing the firm’s electronic trading software
08/24/2013
SEC Proposal, CFTC Rules, BB&T, Monte Paschi: Compliance
The failure that affected Nasdaq’s system for reporting quotes and trades bolsters the case to pass a proposal issued in March
08/22/2013
FATCA - Registration Portal Opened
Broadly speaking, FATCA imposes a 30% withholding on payments of US source investment income to non-US entity payees absent a certification from such payees as to the identity of their US owners or accountholders, if any.
08/22/2013
Christie's sued for failure to protect art collection
Legendary British auction house Christie's will have to clear its name in a New York court after a lawsuit accused
08/22/2013
Argentina loses appeal of U.S. ruling, must pay bondholders $1.3-billion
This will take time to resolve, and the politics could change before it is.
08/21/2013
Investigation shows Bloomberg used private client data
We did not fully appreciate how expectations of us have evolved
08/21/2013
U.S. looks to turn the screw in Swiss banks talks
The United States is pushing Switzerland for a deal to settle a long-running dispute over banks that shelter tax evaders,
08/21/2013
FINRA Fines Morgan Stanley $1M for Unfair Pricing
The requirement to pay restitution is in addition to restitution that Morgan Stanley paid previously to customers for transactions covered by this settlement.
08/20/2013
JPMorgan hires New York law firm to help in hiring probe
The SEC is questioning JPMorgan, the largest US bank, over its relationships with at least two families in China that may have legitimate explanations, sources told Reuters.
08/19/2013
SEC charges ex-Oppenheimer fund manager with misleading investors
The company earlier this year agreed to settle related charges with the SEC and pay $2.8 million.
08/18/2013
Billionaire Philip Falcone banned from financial sector for five years
While the ban would put at least a temporary end to Falcone's hedge fund career, the consent order detailing the agreement does not say Falcone is barred from being a director or officer of a public company.
08/15/2013
Swiss Lawyer’s Guilty Plea Discloses Help in U.S. Tax Probe (3)
Paltzer is cooperating with U.S. authorities in their broader investigation of how foreign banks and advisers helped American clients evade taxes, his lawyer,Thomas Ostrander, said.