08/23/2023
No sooner does Schwab disclose need for (up to) $500 million than it files with SEC for $2.35 billion cash injection by debt issuance and shares tumble 4.95%
Charles Schwab Corp. is seeking of $2.35 billion
Legal, Regulation & Compliance
08/22/2023
SEC charges fintech investment adviser with violating marketing rule
In the first case involving the SEC's amended marketing rule, Tian has agreed to pay over $1 million to settle the charges, without admitting or denying the findings.
08/21/2023
Fintech firm Titan to pay over $1 million to settle US SEC charges
Reuters previously reported the SEC was investigating investment advisers over whether they are meeting rules around custody of client crypto assets.
08/21/2023
Major bank follows Bank of America and will close sixth branch in weeks due to customers changing ‘preferences’
This closure follows four other Santander branches across Pennsylvania being closed already this year.
08/21/2023
$1 Trillion Of Private Debt Faces Potential Trouble, Bank Of America Warns
The remaining 40% falls under the category of private debt.
08/18/2023
The SEC and CFTC crack down: Record-keeping fines soar beyond $2.5bn
The implicated firms did not contest the allegations, accepting their roles in violating record-keeping standards.
08/18/2023
Best Lawyers in America 2024 Selects Six Attorneys from Keller/Anderle LLP and Names Kay Anderle as "Lawyer of the Year" for Legal Malpractice Law
The firm represents individuals, closely-held corporations, and some of the nation's largest corporations.
08/18/2023
Ex-Merrill Broker in Michigan Trims $865k Recruiting Loan Tab in Note Case
But the panel also held Merrill responsible for $300,000 based on the broker’s counterclaim that firm policy changes and lack of support effectively forced him out.
08/16/2023
Morgan Lewis Advises Bank of America
Partner Sandra Vrejan, along with partners
08/16/2023
US and Bermuda regulators to discuss long term re/insurance
The panel will discuss topics such as the global protection gap that exists in the availability of pension benefits, the influx of capital into the sector, and cross border reinsurance.
08/15/2023
UBS resolves RMBS matter with US Department of Justice
UBS has reached an agreement with the United States Department of Justice (DOJ)
08/15/2023
Vesttoo begins Chapter 11 proceedings
Newly appointed chief executive officer Ami Barlev said: "We believe the steps we are taking are best for Vesttoo’s long-term growth and success.
08/14/2023
New York judge freezes Vesttoo’s assets
White Rock is planning to launch arbitration proceedings against Vesttoo in Bermuda
08/14/2023
‘Huge scam’ in rural Kansas town fells fourth U.S. bank this year
“They are well-capitalized, have strong reserves, are profitable and maintain record levels of loan reserves.”
08/08/2023
Lawyers in Wells Fargo case ask for $180 million in attorney fees
Lawyers for the plaintiffs were able to seek up to 19% of the settlement for legal fees under the terms of the agreement.
08/07/2023
Palomar had one transaction with Vesttoo, says CEO
The scandal has raised doubts about the amount of capacity available for collateralised insurance transactions.
08/07/2023
Fitch’s US downgrade reignites global currency order debate
The decision by Fitch Ratings to downgrade its long-term foreign currency issuer rating on the United States to AA+ from AAA on 1 August brought the country’s fiscal and political vulnerabilities back into focus
08/04/2023
Royal Bank of Canada’s base case following BoE rate rise
The Bank of England (BoE) raised interest rates by 25 basis points (bps) to 5.25% on Thursday—a 15-year high.
07/31/2023
Eight US banks slapped with higher capital buffers
US units of Deutsche and UBS hit with highest SCBs yet imposed by the Fed
07/28/2023
Regulators unveil sweeping changes to capital rules for banks with $100 billion or more in assets
U.S. regulators on Thursday unveiled a sweeping set of proposed changes to banks’ capital requirements to address evolving international standards and the recent regional banking crisis.