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.
Legal, Regulation & Compliance
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
09/30/2019
European investors target lavish executive pay in US
Tougher stance taken by EU funds on S&P 500 remuneration awards than American peers
09/30/2019
Platinum Partners founder gets new trial, former executive acquitted
Nordlicht’s motion for acquittal was denied, but a new trial was approved as prosecutors did not provide enough evidence to sustain the conviction.
09/30/2019
US 'ill-judged' to push against the tide - Fidelity's Paras Anand
This implies that there is a conflict between pursuing both financial returns and sustainability.
09/30/2019
Barclays Agrees to Pay $6.3 Million in Asian Hiring Case
Barclays violated the Foreign Corrupt Practices Act by using employment at the bank to influence deal making, and failed to maintain a system of internal controls around hiring, the SEC said.
09/30/2019
Banco do Brasil managers targeted in $48 million money laundering probe
The bank’s shares opened down 1% on news of the probe, but recovered quickly to advance 0.7%.
09/29/2019
Two BMO Advisory Firms Pay Over $37 Million to Harmed Clients for Failing to Disclose Conflicts of Interest
The SEC’s order finds that BMO Harris and BMO Asset Mgmt willfully violated Sections 206(2) and 206(4) of the Investment Advisers Act of 1940
09/28/2019
SEC targets binary options marketer who caused 25,000 investors to make deposits with unregistered firms
The misleading websites and videos were viewed by more than 350,000 persons and caused more than 25,000 investors to make deposits for trading binary options with one of approximately 35 unregistered brokers.