12/15/2011
Henry Swieca said to return client money from hedge fund
Swieca made the decision because of new financial regulations that require firms to register with the U.S. Securities and Exchange Commission by March 2012
Legal, Regulation & Compliance
12/12/2011
Regulatory changes for hedge funds set to continue in 2012
Under the Dodd-Frank Act, the private adviser exemptions in the Investment Advisers Act of 1940 will be replaced with 'venture capital fund adviser', 'foreign adviser' and 'private fund adviser' exemptions, says law firm Kaye
12/09/2011
Dutch fund sues major US bank over securities
The mortgage loans backing the securities were worth much less than had been represented and were taken out by borrowers "who were much less creditworthy than had been represented," the lawsuit said.
12/08/2011
US court grants Lehman approval to exit bankruptcy in 2012
Many former Lehman executives have disappeared from the spotlight, while several have landed jobs elsewhere on Wall Street:
12/08/2011
U.S. indicts client of UBS, cantonal bank in tax case
Amir Zavieh, a naturalized U.S. citizen born in Iran, was charged late Tuesday with fraud and conspiracy by federal prosecutors in Fort Lauderdale, Florida.
12/05/2011
Top Manhattan art gallery accused of selling fake article
Pierre Lagrange, a co-founder of GLG Partners Inc., said in a complaint filed yesterday in Manhattan federal court that he paid $17 million for a painting called "Untitled 1950" from Knoedler in November 2007 that the gallery said was by Pollock
12/05/2011
Utah man wants to pay taxes with silver
Some businesses have accepted silver from Bowen, he said, and he has made charitable donations with the coins, but he wants the state to follow its own law.
12/02/2011
Top bank sues US claiming excess taxes
Wells Fargo, based in San Francisco, says the overpayments involve the interest rates on taxes paid and stem from acquisitions by the bank from 1996 through 2008.
12/01/2011
NY court hears hedge fund boss' bail arguments
Rajaratnam was also ordered to forfeit $53.8 million and to pay a $10 million fine.
12/01/2011
Former UBS employee gets jail time for gambling fraud
FINRA initiated a regulatory investigation, which resulted in Reilly being suspended in July 2011 for failing to respond to requests by the regulator for information. In October 2011, FINRA converted the suspension to a bar.
11/29/2011
Swiss not aware of US accusation details - Pictet
Swiss banks need to know what the U.S. is accusing them of to be able to negotiate a solution, Nicolas Pictet, president of the Swiss private banking association and a managing partner at Pictet & Cie. told Aargauer Zeitung in an interview.
11/28/2011
Compliance must tap new know-how for hedge fund form
Advisers to hedge funds and other private funds that manage at least $150 million in assets will be required to file Form PF with the SEC.
11/23/2011
US watchdog faults two major accounting firms' audits
US watchdog faults two major accounting firms' audits
11/22/2011
Major US banks met with Fed over Volcker Rule
Major US banks met with Fed over Volcker Rule
11/18/2011
HSBC India client indicted for tax evasion
Desai was also charged with three counts of failing to report foreign bank accounts
11/17/2011
Top-tier law firm's lawyers among the best in the Caribbean
17 lawyers are included in the Legal 500 rankings, Caribbean 2012 edition
11/17/2011
Ohio-based law firm announces merger
The combined firm will employ more than 330 attorneys in nearly 70 practices
11/10/2011
Chicago lender plays role in MF Global mess
The hunt for the missing $600 million in customer money at MF Global Holdings Ltd may begin with Harris Bank, a Chicago-based lender that often holds client money for many large futures brokerage firms.
10/27/2011
Wall Street banks gets NSA intel on foreign hackers
Wall Street banks gets NSA intel on foreign hackers
10/24/2011
Hedge fund manager pleads guilty in insider-trading scheme
Hedge fund manager pleads guilty in insider-trading scheme