10/08/2020
14 States that don’t Tax Pensions AND Social Security
By the way, if you are invested in one of these companies you should send an email to your company's IR contacts and ask them why they are still practicing excessive salary practices.
Legal, Regulation & Compliance
10/07/2020
FTC Fines: FTC Chairman Reminds Companies That Fines Are the FTC’s Strategic Tool To Deter Noncompliance
Aside from the settlement, the case is another important reminder that companies should be aware of what their vendors are doing because a vendor’s actions could cause the company to be noncompliant with privacy laws and subject to fines and penalti
10/06/2020
Lugano bank ‘seriously breached anti-money laundering regulations’
The breach is in connection with the handling of Venezuelan client relationships.
10/06/2020
HSBC’s role in the US lawsuit against Huawei called into question
Lawyers for Huawei argue HSBC improperly aided the US to indict CFO Meng Wanzhou
10/06/2020
Wallis Bank Participates in ABA's #BanksNeverAskThat Anti-Phishing Campaign
The #BanksNeverAskThat campaign uses attention-grabbing content to empower consumers to identify bogus bank communications asking for sensitive information like their social security numbers.
10/06/2020
Former client relationship manager at Bank of America pleads guilty to embezzling from client company
Defendant used embezzled funds to purchase Porsche SUV and luxury items
10/06/2020
Securities America advisor charged with fraud in cherrypicking scheme: SEC
He generated $37,042 in first-day profits for himself and $141,642 in losses to clients from doing so, investigators say.
10/05/2020
The PBGC’s Inconvenient Surplus
From a plan sponsor perspective, the premiums are essentially a tax — one that seems to provide no direct benefit to the payors unless they go bankrupt and leave their plans to the PBGC.
10/02/2020
Swiss Bank Ensnared in Venezuelan Graft Probe
The activity has been carried out at the bank’s offices and has been having a significant impact on the overall costs for the year
10/02/2020
Former Swiss bankers plead guilty in U.S. tax evasion case
The trio had been indicted in 2012 alongside the bank itself on allegations of shielding $1.2 billion from U.S. taxes, but prosecutors agreed to the lesser charge in March.
10/01/2020
Dirty money has ‘metastasized’ within global banking system, top regulator says
New York’s financial regulator acknowledged that the financial system is “awash with trillions of dollars in dirty money,” and has called on banks to help fix it.
10/01/2020
UBS and Banco do Brasil Launch UBS BB Investment Bank and Unveil the Firm’s Leadership Team
UBS BB will provide investment banking services in Brazil, Argentina, Chile, Peru, Paraguay and Uruguay and institutional securities brokerage in Brazil.
09/30/2020
JP Morgan Chase admits to US market manipulation and agrees to pay $920m
‘Spoofing’ practice illegally affected futures and metals market
09/29/2020
SEC Issues $1.8 Million Whistleblower Award to a Company Outsider
Marks 100th Individual Awarded Under Whistleblower Program
09/28/2020
Managing the evolving compliance landscape facing multinationals
We take a closer look at the findings of the Global Business Complexity Index 2020
09/27/2020
As bank giant's shares sink to new low, HSBC to face class action over money laundering claims
Class action lawsuits allow multiple claims against a single defendant.
09/25/2020
The window for "easy" partnership amended returns for CARES Act benefits is closing
Real estate partnerships are probably most impacted, though others as well.
09/25/2020
How the FinCen Papers provide an opportunity to improve the Suspicious Activity Report (SARs) regime
Buzzfeed has had these SARs for over a year.
09/25/2020
EU-US Privacy Shield declared invalid – what's next?
To ensure transatlantic data flows between the EU and the US following this annulment, the EU Commission and the US government reached a new political agreement on the subject, following which the Privacy Shield decision was adopted in July 2016.
09/24/2020
Saudi-based Islamic investment firm acquires West Michigan properties in joint venture
The portfolio includes a mix of tenants in the automotive, manufacturing and the telecommunications industries.