11/27/2020
Broker warns buyers to budget for stamp duty
According to data from Trussle, the average completion time varies across the country, with a median of 96 days in the South East and 166 days in the East Midlands.
Legal, Regulation & Compliance
11/26/2020
California lawmakers demand unemployment answers from Bank of America
Also under fire for its role in long payment delays is the state Employment Development Department, which first signed the contract with Bank of America in 2010 and earlier this year amassed a backlog of 1.6 million unpaid jobless claims amid mounting con
11/26/2020
Banks push back on OCC’s bid to ban lending bias
But the OCC appears to be standing firm. It argues that the proposal simply formalizes guidance "issued and reinforced" by the agency since 2014.
11/25/2020
JPMorgan Chase Fined $250 Million Over Failings In Fiduciary Business
The bank has remediated the deficiencies that led to this action.
11/25/2020
Chubb Cyber Index(SM) Highlights Importance of Professional Services Industry Taking More Protective Steps Against Cyber Attacks
Businesses can take extra steps to protect their remote workforce against cyber threats
11/24/2020
Three Healthcare Achievements To Be Thankful For
For a family of four, that plan will run $1,486 in 2021, compared to $1,524 last year.
11/24/2020
Qatar starts legal proceedings against FAB in New York in market manipulation row
Qatar in 2018 alleged that First Abu Dhabi Bank, the United Arab Emirates’ largest lender, made “bogus” foreign exchange deals to harm Qatar’s economy after the UAE and other Arab states began a boycott of Qatar in 2017.
11/24/2020
Hedge Funder Sues Gallery Over George Washington Painting
Former hedge-fund manager Michael Steinhardt says the gallery misled him during a consignment.
11/24/2020
Finra Hits Another Veteran Broker Over UIT Sales
Stifel itself agreed in May to pay more than $3.6 million for allegedly giving inaccurate information on the costs of rollovers and related supervisory violations.
11/24/2020
Wells Fargo executives charged with disclosure of false and misleading KPIs and certifications
According to the Order and the complaint, for several years, Wells, Stumpf and Tolstedt publicly touted Wells’ cross-selling strategy as key to Wells’ successful growth
11/20/2020
US tax rules for a Delaware LLC
These non-US resident tax members are responsible for assessment on any net profits at 30% of their US-sourced income.
11/20/2020
Offshore Cheat Sheet: How to Navigate LatAm's New Regulatory Minefield
US firms should consider the impact of the law, as well as AML concerns that may arise from any transactions with institutions in the country.
11/19/2020
Pulling “Shadow Banking” Out of the Shadows: FSB Report on March 2020 Turmoil Signals Increased Regulatory Scrutiny of Non-Bank Financial Intermediation
The Report also recommends that, based on the FSB’s analysis, the international efforts to boost the resiliency of NBFI focus on three main areas
11/19/2020
Silicon Valley Newsletter | November 2020
So as your teams are getting reoriented after the election here in the US, we’d love to talk to you about your international plans for 2021.
11/18/2020
SECs OCIE Issues Warning to Registrants Regarding Complex ExchangeTraded Products
The orders against each firm found that the firm failed to implement written policies and procedures reasonably designed to prevent violations of the Investment Advisers Act of 1940 and the rules thereunder.
11/16/2020
SEC Charges Five Firms With Improperly Selling Volatility-Linked ETPs
More than $3 Million to be Returned to Harmed Retail Investors as Part of Ongoing Risk-Based Initiative
11/16/2020
SEC Awards Over $1.1 Million to Whistleblower for Independent Analysis
The SEC has awarded more than $720 million to 113 individuals since issuing its first award in 2012.
11/16/2020
The MD of Wells Fargo warns of the difficulties facing the dollar.
Schumacher blames the Federal Reserve’s recent interest rate decision, in addition to its deafness, on the weakening trend of the dollar.
11/16/2020
Ogier in Guernsey advises Burford Capital on its dual New York Stock Exchange and London Stock Exchange listing
Burford is the leader in its field and we congratulate them on this success.
11/15/2020
Former Wells Fargo CEO barred from industry, to pay $17.5 million for sales scandal
The SEC’s filings include settled charges against Stumpf, who agreed to pay a $2.5 million penalty, and a litigated action alleging Tolstedt committed fraud.