08/04/2019
Wealth manager struck by golf cart at posh club to get $3.65M
The jury verdict awarded $1 million in damages for pain and suffering, $150,000 for future medical expenses and $2.5 million for the economic wage losses.
Legal, Regulation & Compliance
08/03/2019
Sacramento CEO Pleads Guilty to Pension Embezzlement
This case is the product of an investigation by the U.S. Department of Labor - Employee Benefits Security Administration.
08/02/2019
Banks could get fined for cyber breaches, top regulator says
McWilliams said the FDIC is "monitoring" the cyber defenses and "continuously" testing the safety and structure of banks' networks and firewalls.
08/01/2019
US Partnership Representative Requirements
The Partnership Representative and any Designated Individual must maintain a “substantial presence” in the US as defined by the updated centralised audit regime.
07/31/2019
FINRA fines Citigroup for loose background checks
Federal securities laws require broker-dealers to fingerprint certain associated persons working in a non-registered capacity prior to or upon association with the firm.
07/30/2019
Adam Banks Named Rising Star by MCCA in 2019
The annual series spotlights the attorneys whose accomplishments, leadership and dedication to helping others exemplify excellence in the law.
07/30/2019
SEI Investments Settles 401(k) Class Action for $6.8 Million
The deal will benefit about 5,600 current and former participants in the investment management company’s 401(k) plan, the parties said in court papers filed July 26.
07/30/2019
SEC expands the circumstances where it deems a digital asset to not be a security
Quarters will be made available in unlimited quantities and at a fixed price set by PoQ.
07/29/2019
Major changes to EB-5 program: Increased investment amount starting Nov 21
Under the EB-5 program, foreign individuals are eligible to apply for permanent residence in the United States if they make investments
07/29/2019
The IRS Is Tracking Down 10,000 Crypto Owners to Pay Back Taxes
Last year, the IRS’s audit division identified cryptocurrencies as one of five areas where taxpayers could easily avoid taxes.
07/29/2019
Adam Banks Named Rising Star by MCCA in 2019
Mr. Banks is among just 13 honorees selected from a competitive pool of diverse attorneys nationwide.
07/29/2019
Industry Insight A Bahamas Latam Approach Driven By Innovation
Effectively it is a civil-law product, introduced in a common-law context, and so its structure is familiar to the Latin American market.
07/28/2019
Allen & Overy merger target 'tried to erase evidence of Trump support'
"This is misleading", the unidentified person said about the section titled, "Support for the Trump Administration".
07/25/2019
SEC Awards Half-Million Dollars to Overseas Whistleblower
Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action.
07/24/2019
OCC Fines Ex-Rabobank Counsel $50,000 for Concealing AML Report
On February 7, 2018, the Bank pled guilty to conspiracy
07/24/2019
Trump sues Congress, New York to keep his tax returns a secret
The lawsuit seeks to stop a law passed in New York state from taking effect
07/24/2019
B&J Financial Services Joins Forces with North Texas Accounting and Advisory Firm
Our new partnership with Saville provides an even stronger foundation for client and family continuity for generations to come.
07/22/2019
Fidelity at center of new strategy for ERISA breach lawsuits
Plaintiffs alleged that Fidelity is a fiduciary and is charging "secret" fees; Fidelity responded that it discloses the fees and that it isn't a fiduciary.
07/22/2019
Why US regulators are struggling to step up to regulate Facebook's Libra
Facebook, which is spearheading Libra’s development via a new subsidiary called “Calibra,” has also gathered a consortium of companies that will supposedly have equal commitments with Facebook
07/22/2019
Merrill Lynch Hit with $40 Million Settlement and Faces Further $42 Million From Similar Claim
Levine’s settlement is apparently the largest involving an individual claimant in the last decade, Craig McCann, principal of Securities Litigation and Consulting Group, tells CNBC.