10/15/2019
Phishing the Famous
Man Who Targeted Celebrities Sentenced; Simple Precautions Can Keep Your Information Safe
Legal, Regulation & Compliance
10/13/2019
SEC Halts Alleged $1.7 Billion Unregistered Digital Token Offering
The complaint alleges that defendants failed to register their offers and sales of Grams, which are securities, in violation of the registration provisions of the Securities Act of 1933.
10/11/2019
Morgan Stanley and Merrill Lynch Snagged in Uber IPO Lawsuit
Even if the courts eventually reject or rule against the plaintiffs’ proposed class actions, its filing underscores the trepidation with which many financial advisors have begun to view IPOs.
10/10/2019
New guidance on material climate change disclosure for reporting issuers
Securities law in Canada requires reporting issuers to disclose material risks affecting their business and, where applicable, the financial impacts of such risks.
10/10/2019
Merrill Lynch Broker Barred for Actions Related to Personal Bank Accounts
Finra has barred a Merrill Lynch broker for actions stemming from conduct related to his personal bank accounts.
10/09/2019
US considering restricting government pension fund investments in China
The Commerce Department on Monday put eight Chinese tech companies on its entity list, which bars U.S. firms from selling technology to the Chinese companies without government approval.
10/09/2019
Final hardship withdrawal regulations issued – where do we stand
Questions regarding these new rules were finally resolved when the Internal Revenue Service (IRS) issued final hardship withdrawal regulations on September 23, finalizing proposed regulations issued in November.
10/09/2019
SEC subpoenas Argo in compensation probe
The re/insurer pointed to enhancements to its governance and compensation programs announced in August, which include declassification of its board and a reduction of the size of the board.
10/08/2019
'Accidental Americans' sue France over FATCA disclosure rules
As a result, the advocacy group says French nationals with dual American citizenship face de facto discrimination, even though "most of these people have no links with the United States."
10/08/2019
OFAC's Case Against British Arab Commercial Bank and Offshore Use of the US Dollar
This is a complex and novel case, but one worthy of careful analysis by non-US banks engaged in potentially higher risk transactions in USD that rely on a determination that the arrangements are outside of OFAC’s jurisdiction.
10/08/2019
Don't Turn a Tax Debt Into a Prison Sentence
In addition to evading the payment of these taxes, Dr. Russell failed to timely pay the taxes due for the years 2013 through 2015."
10/07/2019
Management Fees Are Falling for These Asset Classes
A new study from consulting firm bfinance finds that fees for some fund types have posted double-digit declines, but says investors still need to be mindful when evaluating costs.
10/06/2019
Bank of Ireland accounts 'used to launder €273m in OneCoin scam’
US prosecutors call in current and former officials at lender to testify in cryptocurrency case
10/04/2019
US to start revoking passports of American expats with tax debts
In turn, the State Department has the authority to deny a passport application, revoke or not renew a passport.
10/04/2019
DLA Piper partner accuses boss of four sexual assaults
But it was only after joining DLA Piper’s Silicon Valley practice in September 2018 as a junior partner that she was "subjected to Mr. Lehot’s unlawful behavior" and "suffered such humiliation and harm simply because of my gende
10/03/2019
Prosecution to Call Bank of Ireland Members in OneCoin Money Laundering Case
Recently, staff members from Bank of Ireland were asked by the court to give testimony against Mark Scott, one of the most prominent figures who allegedly masterminded the fraudulent scheme.
10/03/2019
Prosecution to Call Bank of Ireland Members in OneCoin Money Laundering Case
The Government’s position is that Mark Scott committed a fraud and money laundering that amounted to more than four hundred million dollars.
10/03/2019
Arthur J. Gallagher & Co. Signs Agreement to Acquire Horseshoe Insurance Services Holdings Ltd.
The acquisition is subject to regulatory approvals and is expected to close in the fourth quarter of 2019.
10/02/2019
Uae banks federation meets with the U.S. Treasury Department's Office of Foreign Assets Control to reinforce financial and banking relations
Senior compliance bankers of UAE Banks and high-level OFAC and U.S. delegates attended a meeting to discuss key financial topics and ongoing developments in the banking sector
10/02/2019
Money Talks: Scores of US Expats Giving Up Passports for this Reason
FATCA reporting is a complex issue, and involves specific financial institutions having to report details of financial accounts held by US persons