09/22/2013
TD To Pay $52.5M US in Fines Over Ponzi Scheme
Toronto-Dominion Bank will pay $52.5 million US in civil penalties to settle charges by U.S. regulators that it violated securities laws in connection with a Ponzi scheme
Legal, Regulation & Compliance
09/22/2013
U.S. Regulator Sues Morgan Stanley,Eight Others Over Faulty Securities
Goldman Sachs Group Inc, Wachovia Corp, a unit of Wells Fargo & Co and Residential Funding Securities LLC, now Ally Securities, also sold faulty securities to Southwest
09/22/2013
Ex-Qualcomm Executive Indicted
Federal authorities indicted a former executive vice president at Qualcomm on Monday, saying that he was the mastermind of an elaborate insider trading scheme.
09/19/2013
Sitting comfortably – Swiss lawyers benefit as Gnomes of Zurich come under attack
So where does this leave Switzerland's legal powerhouses?
09/18/2013
JP Morgan confirms $920m payout
JP Morgan has confirmed it is paying $920 million (£573 million) to a group of regulators.
09/17/2013
JPMorgan to pay £500m settlement for London Whale scandal
The blue blooded investment bank is close to settling investigations into its £3.9billion London Whale losses
09/17/2013
Bahrain's Arcapita exits chapter 11, plans asset sales
"We expect to have a complete exit of the portfolio over the next four to five years," a spokesman told Reuters.
09/15/2013
JPMorgan trader fighting Whale charges says he was only following orders
It may be part of an attempt to tell the government that this case is weaker than you think, and you’ll be embarrassed
09/15/2013
HSBC Joins Morgan Stanley in Plan to Screen for Money Laundering
HSBC accepted responsibility at the time and said it’s “a fundamentally different organization from the one that made those mistakes.
09/15/2013
Wells Fargo Provisions Top Losses by $19 Billion in Stress Test
Wells Fargo & Co. (WFC:US), the largest U.S. home lender, would survive $29.7 billion of loan defaults under a company-run stress test and stay above minimum regulatory capital levels in a severe economic downturn.
09/14/2013
Prominent Hedge Fund Attorney Joins Murphy & McGonigle
Her practice focused on enforcement defense and regulatory counseling of financial services firms.
09/12/2013
Investor drops US$8m claim against UBS
AN investor who sued UBS AG to recover more than US$8 million over an alleged mismanagement of his investment portfolio in the global financial crisis following the collapse of Lehman Brothers has withdrawn his suit after three days of trial.
09/12/2013
JPMorgan to spend $4 bln on compliance and risk controls-WSJ
JPMorgan Chase & Co plans to spend an additional $4 billion and commit 5,000 extra employees to fix risk and compliance issues after a slew of investigations by regulatory authorities.
09/12/2013
SEC Rejects Settlement With Former Money-Fund Managers
In a surprise move, the Securities and Exchange Commission scuttled a proposed settlement between the former managers of the Reserve Primary Fund and the agency
09/12/2013
Ex-JPM 'Whale' deputy argues he was just following orders -source
A lawyer for a former JPMorgan Chase & Co employee who worked with "the London Whale" Bruno Iksil, has been trying to convince U.S. prosecutors that his client was the unwitting victim of manipulation by his superiors.
09/11/2013
Morgan Stanley Employee Sues Over Whistleblowing Claims
He was demoted after he conducted audits and told superiors about the risks
09/11/2013
Mennen files $100 million suit against Wilmington Trust over investment losses
The case is in the document-discovery stage, with the heirs alleging in papers made public today that the bank produced as evidence...
09/10/2013
Luxury NYC property sought in Russian fraud case
U.S. authorities are looking to seize pricey Manhattan real estate linked to a tax fraud they say was uncovered by a whistleblowing Russian lawyer before he died behind bars.
09/09/2013
Barclays To Pay $36m To Settle Subprime Mortage Claims
Barclays has agreed to pay $36.1m to settle charges it hurt US homeowners by packaging subprime mortgages that the borrowers could not afford
09/09/2013
Canadian Lawyer Ronald Ross Joins Covington
Covington & Burling is pleased to announce that Donald Ross has joined the firm as senior of counsel in the firm’s New York office.