06/21/2019
U.S. charges four ex-executives at Canadian payments firm PacNet with fraud
Lawyers for the defendants could not immediately be identified.
Legal, Regulation & Compliance
06/21/2019
College admissions scandal mastermind found fertile hunting grounds in wealth management world
Singer, who has since admitted to running the brazen college admissions scam that federal prosecutors brought down in March with criminal charges against dozens of people, was no stranger to Morgan Stanley or other big investment firms.
06/20/2019
US Has Become “Go-To” Nation for Shell Company Formation: Senators
The draft legislation would task the Financial Crimes Enforcement Network (FinCEN) with approving transaction monitoring software, including in-house systems
06/19/2019
Fairfield Sentry: Privy Council Confirms that New York Courts can Apply BVI Insolvency Law to Void Preference Payments
The Privy Council is also the highest court of appeal in the Cayman Islands
06/18/2019
Fraudster behind $50m Bitcoin scam that duped UAE investors admits crimes
Haddow's other business scams include a milk line, glow in the dark plastics, a hotel ownership plan and even an attempt to buy the world's oldest newspaper, UK-based The Observer.
06/17/2019
ICBC US Brokerage Unit Penalised for Unlawful ADR Practices
Without admitting or denying the SEC’s findings, ICBCFS agreed to be censured, return nearly $24 million in ill-gotten gains, and pay $4.4 million in prejudgment interest and a $14.3 million penalty.
06/17/2019
Carey Olsen advises Gympass as it secures US$300 million of new funding
Gympass' latest funding came from Japanese investment group SoftBank as well as existing investors such as General Atlantic, Atomico and Valor Capital.
06/14/2019
Three Abraaj Executives Charged in U.S. Fraud Investigation
Former CFO, two ex-managing directors face new U.S. charges
06/14/2019
Noah receives advisory licences in Canada
With the new licences, the New York-listed Chinese wealth manager will be able to give financial advice to high net worth individuals and family offices in Canada.
06/13/2019
Regulatory co-operation between the UK and US: now and in the future by Nausicaa Delfas
BritishAmerican Business and the City of London Corporation have always been important voices when discussing regulatory co-operation and coherence
06/13/2019
FINRA Fines Ex-Merrill Lynch Investment Adviser Over Crypto Mining Sideline
The agency has fined Kim $5,000 for the infraction and suspended him from association with any FINRA-registered firm for one month.
06/13/2019
Proposed Regulations for Qualified Foreign Pension Funds that are Exempt from U.S. Tax on Disposition of U.S. Real Property Interests
The Proposed Regulations also clarify certification and documentation requirements with respect to withholding obligations under Sections 1445 and 1446.
06/12/2019
US Citadel faces probe for alleged market disturbance
A KRX official said it has been investigating the case since August and will hold its market monitoring committee on June 19
06/11/2019
The Rising Tide of Securities Class Action Lawsuits
The report features proprietary Chubb claims analysis and perspectives from some of the top securities lawyers in the U.S.
06/10/2019
Here We Go Again by Gary Dugan
Mario Draghi said that the Council' would use all instruments at its disposal' including a rate cut if necessary.
06/10/2019
HSBC’s Brazil comeback strategy: Open broker dealer, boost hiring
The lender is applying this month for an upgrade of its licence to let it offer more services, such as cash management, instead of just investment banking.
06/06/2019
The fallout from Maddoff continues; claw back of redemption proceeds
This was another line of cases in the ongoing fallout of the collapse of Bernie Madoff’s Ponzi scheme in 2008.
06/06/2019
How a private equity boom fuelled the world’s biggest law firm
Can the hard-charging culture at Kirkland & Ellis survive a dip in dealmaking?
06/06/2019
Banks Fined $91 Million Over FX as Essex Express Rides Again
UBS Group AG avoided a fine because it helped reveal the existence of the cartel.
06/05/2019
BMO PB offers Asia investors VC access
BMO Private Bank Asia has partnered with the Canadian government to provide its clients access to venture capital and technology sector investments.