04/10/2012
Lex Mundi Announces New Director of Professional Development
At Lex Mundi Ms. Fine will support 160 member firms in 120 countries in their member firms in their learning initiatives and will develop global training programs.
Legal, Regulation & Compliance
04/05/2012
Fed fines Morgan Stanley over robo-signing
Morgan Stanley has acknowledged that it will be responsible for satisfying any civil money penalty that the Board of Governors could have assessed against Saxon for its conduct.
04/05/2012
Billionaire on U.S. tax code: It's "a disgrace"
Billionaire David Rubenstein, co-founder of private equity firm The Carlyle Group, says he's willing to pay more in taxes, but lawmakers need to do their job and change the law.
04/05/2012
Stealing customer info costs Ameriprise veteran his job, lands him in prison
A veteran employee for Minneapolis-based Ameriprise Financial Services has been sentenced to three years in prison for using his "limitless access" to customers' confidential information to steal more than $180,000 in a conspiracy entangled
04/04/2012
U.S. Alongside China in Roll Call of Basel Bank-Rule Laggards
The group also called today for regulators to “keep up their efforts” to ensure that they meet a January 2013 deadline to adopt further requirements, known as Basel III.
04/04/2012
Merrill Lynch Can't Stop Class of Black Bankers
A class of Merrill Lynch financial advisers who claim the firm denied them pay and promotions because they are black won another legal victory when the 7th Circuit declined to review its earlier order to certify the class.
04/04/2012
SEC hits Pentagon with biggest fine on foreign group
The hedge fund of a Conservative Party donor has been fined $98 million for market abuse.
04/03/2012
Merrill advisers win round in court
The class could include up to 700 advisers and trainees who worked at the firm since 2001.
04/03/2012
Genworth Closes the Sale of Its Tax and Accounting Advisor Unit to Cetera Financial Group
Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, financial protection coverages, and independent advi
04/02/2012
BofA’s Merrill Sued by Dexia Over Mortgage Securities
Dexia said in its suit that Merrill Lynch made similar misrepresentations concerning the securities the Belgian bank invested in.
03/30/2012
SEC Registration Captures More Hedge Fund Advisers
That is about a 70 percent increase from the 750 advisers the agency said as recently as July that it expected to register.
03/29/2012
Wells Fargo faces investors' class-action suit
The lawsuit, filed in 2010 by the City of Farmington Hills Employees Retirement System, a Michigan pension fund, on behalf of more than 100 other institutional investors, claimed breach of fiduciary duty and fraud. The investors sought to be allowed to pu
03/27/2012
Six partners quit Dewey for NY's Sutherland Asbill & Brennan
Mace led Dewey’s Lloyd’s of London and Lloyd’s Market practices while at the US firm.
03/27/2012
Gibson Dunn Nominated for Six Chambers USA Awards for Excellence
Gibson, Dunn & Crutcher has announced that the firm was nominated by Chambers and Partners for its USA Awards for Excellence in six categories.
03/26/2012
Kai Herbert Sues JPMorgan Chase Over $3 Million Typo
The contract that Herbert agreed to said he would be paid 24 million rand or $3.1 million, but JPMorgan officials said they meant to put a decimal point between the two and the four, making his actual pay 2.4 million rand.
03/26/2012
Lehman Brothers broker avoids prison time after NY cooperation aids prosecution of 4 others
U.S. District Judge William Pauley cited the extraordinary cooperation by 38-year-old Matthew Devlin when he said prison time was unnecessary and placed him on probation for three years.
03/26/2012
Feds say Wells Fargo won't turn over documents
The Securities and Exchange Commission said in a statement Friday that Wells Fargo agreed to produce the documents under subpoenas dating to September of 2011, but the bank has failed to hand over much of the requested material.
03/23/2012
Leading offshore law firm advises WNS on NY Stock Exchange Offering
WNS is a leading global business process outsourcing company incorporated in Jersey, with its principal executive office located in India.
03/23/2012
Baker & McKenzie pulls plug on San Diego base
Baker & McKenzie is to close its San Diego office at the end of the month with all fee-earners and staff losing their jobs.
03/22/2012
Deutsche Avoids Dodd-Frank Rule
Deutsche Bank AG changed the legal structure of its huge U.S. subsidiary to shield it from new regulations that would have required the German bank to pump new capital into the U.S. arm.