09/30/2021
PIABA: 30% of 2020 FINRA Arbitration Awards Went Unpaid
New Report Finds Increased Rates of Unpaid Arbitration Awards and Unpaid Award Money Compared To 2019; 24% of All Awarded Money Last Year Was Never Paid.
Legal, Regulation & Compliance
09/30/2021
European banks need regulation reset to catch U.S. rivals: EBF
Banking capital buffers in Europe have been much tougher than in the United States
09/30/2021
SEC enforcement action highlights scrutiny of "alternative data" and trading firms that use it
App Annie provides a free performance analytics product for mobile applications.
09/30/2021
Marketing Strategy And Marketing Tactics For Lawyers
A marketing strategy is a researched, thought-out and well-planned document that details everything from historical data and business values to goals and metrics by which to measure success.
09/29/2021
U.S. Attorney Announces Unsealing Of Indictment Charging Six Individuals And One Corporate Entity With Tax Fraud Conspiracy, And Related Guilty Plea
Indictment Alleges that Defendants Conspired to Help U.S. Clients Evade Taxes on More Than $60 Million Hidden Offshore
09/28/2021
Citi fined $1 million for swap data reporting violations
The order also charges Citi for violating the cease and desist provision of a 2017 CFTC order relating to reporting and supervisory failures.
09/28/2021
US: Regulatory order serves as a message to all about cybersecurity and governance
The Order requires the bank to develop an Action Plan to achieve compliance with the regulations.
09/28/2021
FINRA Targets Firms' Social Media Activity
FINRA will look at how firms acquire customers through social media, particularly through outside influencers with large online followings.
09/26/2021
FinCEN advance notice of proposed rulemaking regarding the antiquities trade
Congress’ move to make the BSA applicable to the antiquities trade stemmed from the concern that the trade may be exploited by money launderers and terrorist financiers to evade detection by law enforcement.
09/26/2021
The Fight to Control the $2 Trillion Crypto Market Is Heating Up
Investors are being rattled by volatility as the two biggest economies — the U.S. and China — seek to tighten their grip on Bitcoin and other digital currencies.
09/26/2021
U.S. climate change disclosure – What should companies be thinking about?
Sample letter to companies focuses on compliance with SEC’s 2010 climate change disclosure guidance
09/24/2021
OFAC Sanctions Cryptocurrency Exchange to Combat Ransomware Payments, Releases New Ransomware Guidance
OFAC simultaneously announced that it was imposing sanctions on Suex OTC, S.R.O. (“SUEX”), a Russia-based cryptocurrency exchange registered in the Czech Republic, for its role in facilitating payments connected with ransomware extortion.
09/23/2021
OFAC Issues Updated Ransomware Advisory Emphasizing Reporting to and Cooperation with US Law Enforcement
As we’ve previously discussed, last fall OFAC issued an advisory on the potential sanctions risks for facilitating ransomware payments.
09/21/2021
FINRA Fines Ex-Merrill Rep Who Hid Felony Drug Charges
Since he is no longer registered as a broker or advisor, the suspension will be imposed only if he reassociates with a member firm.
09/21/2021
US to target cryptocurrency firms involved in ML
The US government is reportedly set to prepare an array of actions, including sanctions to deter cryptocurrency firms getting involved in ransomware and laundering.
09/21/2021
US Treasury sanctions crypto exchange for laundering ransom payouts
“Ransomware and cyber-attacks are victimizing businesses large and small across America and are a direct threat to our economy. We will continue to crack down on malicious actors,” said Treasury Secretary Janet L. Yellen.
09/20/2021
Baillie Gifford cuts fee on top performing US Growth trust
The US Growth trust has become the latest portfolio in the Baillie Gifford stable to receive a fee cut following a year of outstanding performance.
09/19/2021
Tax Reform is Coming: What it Could Mean For You?
The top long-term capital gains rate would be increased from 20% to 25% for taxpayers in the highest ordinary income tax bracket, effective for sales after September 13, 2021
09/17/2021
SEC Surpasses $1 Billion in Awards to Whistleblowers with Two Awards Totaling $114 Million
The SEC has awarded approximately $1 billion to 207 individuals since issuing its first award in 2012.
09/17/2021
K&L Gates Releases ESG and the Sustainable Economy Handbook
ESG and sustainability are important topics that touch on many aspects of running a business today