08/21/2020
OCIE Releases Risk Alert Regarding Compliance Considerations During COVID-19 Pandemic
In this Legal Update, we review a number of observations and suggestions the OCIE has made where there may be heightened risk due to COVID-19.
Legal, Regulation & Compliance
08/21/2020
Growth Prospects and Challenges ahead for the U.S., U.K., Eurozone, China, and Japan
A resurgence of virus infections in several areas is threatening to choke the recovery and could flatten growth in the second half of 2020 and beyond.
08/21/2020
What Law Firms Can Expect in a ‘Grueling’ Second Half of 2020
They may struggle to retain and compensate their most marketable partners if they can’t bolster their firm’s finances by the end of the year.
08/21/2020
MetLife Announces Alliance With Barnum Financial Group
MetLife and Barnum Financial Group have a shared passion for giving people the tools and insights they need to pursue their dreams with confidence.
08/21/2020
Vast majority of comments oppose ESG proposal – analysis
There were 229 comments from investment-related groups, 94% of which were opposed, the analysis found.
08/20/2020
HSBC Global AM closes 2nd Vision private equity fund at $260m
The Vision programme was designed in partnership by HSBC Global Asset Management and HSBC Private Banking.
08/20/2020
Corruption Has Become America’s Religion
The Declaration and the US Constitution were benign as they set a framework to disperse power and wealth among everyone.
08/19/2020
Vanguard Consolidates Taxable Money Market Fund Management on Charles River IMS
Charles River IMS also enables users to incorporate its proprietary data and configure workflows unique to their product offerings.
08/19/2020
Rethinking “CEO exceptionalism”
Fortune/Deloitte CEO Survey on how COVID-19 is redefining the CEO role
08/19/2020
Wells Fargo cost-cutting plan to reach asset management, analysts say
"Wells Fargo & Company is at the beginning of a multiyear effort to build a stronger, more efficient company for our customers, employees, shareholders and other stakeholders," the statement from Wells Fargo said.
08/18/2020
IRS Issues Reit-Favorable Ruling For Taxable Reit Subsidiary In Private Equity International Healthcare Acqquisition
TRS will not be involved in any facet of the day-to-day operations at the Facilities
08/18/2020
Wells Fargo consumer chief may testify of 'fear' her predecessor inspired
The case could expose internal rifts that would normally remain outside of public view, though most of the bankers who may be called to testify are no longer with Wells Fargo. A trial has been scheduled for next summer.
08/17/2020
U.S. regulators issue guidance on AML enforcement actions
The agencies also listed four pillars for an institution’s AML compliance program.
08/17/2020
AML, KYC and Sanctions Fines for Global Financial Institutions Reach $5.6 Billion Mid-Year
Repercussions from high profile scandals and compliance failings hit US, Israeli, Nordic and German banks hardest
08/17/2020
Envestnet, Inc. to Offer $450 Million of Convertible Notes
The Notes will be general unsecured obligations, subordinated in right of payment to the Company’s obligations under its revolving credit facility.
08/17/2020
Citi’s $900 Million ‘Clerical Error’ Is Worst Wall Street Bungle in a Long Time
The wayward transfer of nearly a billion dollars appears to be one of the biggest screw-ups on Wall Street in ages, and it’s set tongues wagging in financial markets.
08/14/2020
Executive responsible for making sure Wells Fargo follows regulations is departing
NBC News reported that Wells Fargo had placed customers into a program, without their permission, that suspended payments on federally backed mortgages.
08/14/2020
Global Anti-Money-Laundering Fine Amounts Released
For years the U.S. has led the way in imposing major anti-money laundering (AML) fines, but regulators in Europe have recently started taking a much tougher line.
08/14/2020
SEI drops shop from $4bn fund amid overhaul
SEI dropped Neuberger Berman in favor of JO Hambro Capital Management in July.
08/13/2020
What a senate investigation means for the art market
The Report noted that although private dealers and auction houses are not legally required to implement AML policies, they must comply—like everyone else