11/27/2018
New Mexico Lawmakers Endorse Pension, Health-Benefit Reforms
Public employees across New Mexico would pay more for retirement health benefits under proposed reforms endorsed by a panel of state lawmakers.
Legal, Regulation & Compliance
11/27/2018
Ex-FA Gets Eight-Year Prison Sentence for Multimillion-Dollar Fraud
In addition to the prison sentence, U.S. District Judge Anne Thompson sentenced Newsholme to three years of supervised release, the website writes.
11/23/2018
Japan’s MUFG in Ongoing AML Probe by New York Regulators
The switch to a national charter was made for efficiency reasons, according to MUFG.
11/22/2018
Bank of America reaches agreement to dismiss federal discrimination lawsuit
Marques, who resides in New Jersey, was granted authorization to work in the U.S. under Deferred Action for Childhood Arrivals
11/21/2018
How Policy Changes Kept America's Silver Workforce On The Job
Changes to the Social Security program have made it easier for older Americans to work without incurring financial penalties.
11/20/2018
Why Central Bank Digital Currencies Will Destroy Cryptocurrencies
Leading economic policymakers are now considering whether central banks should issue their own digital currencies, to be made available to everyone, rather than just to licensed commercial banks.
11/20/2018
Wells Fargo advisors with $1.44B jump to Stifel
The bank has been rocked by a phony accounts scandal and has paid more than $1 billion in fines and penalties to regulators.
11/20/2018
SocGen to pay $1.3 billion to settle U.S. sanctions case
“The absence of an effective, global sanctions-compliance infrastructure and lack of management oversight allowed Société Générale employees to ignore the scope and applicability of laws governing economic sanctions, as w
11/20/2018
Barclays not liable to buyers of U.S. IPO before 2008 crisis: appeals court
Barclays was accused of concealing 21.6 billion pounds (then about US$42 billion) of mortgage-backed securities and other risky assets insured by monoline insurers, and a March 2008 “directive” by the U.K. Financial Services Authority requirin
11/19/2018
The Bank of Canada, Bank of England and Monetary Authority of Singapore share assessment on emerging opportunities for digital transformation in cross-border payments
The report examines existing challenges and considers alternative models that could in time result in improvements in speed, cost and transparency for users.
11/19/2018
Six-Year Prison Sentence for Former Financial Advisor
Gilbert’s bank began an investigation after getting notified by the Salvation Army that it was supposed to get funds from an account whose owner had died
11/19/2018
Ex-Wells Fargo Rep Barred for Alleged Inaccuracies in His Notes
The former broker initially cooperated with Finra’s investigation into his discharge, but stopped doing so in September 2018, by first sending an incomplete response and then informing Finra staff through his lawyer that he would not provide the res
11/19/2018
US national security reviews to hit Chinese investment
Government will review small minority stakes in sensitive technologies
11/16/2018
British Virgin Islands Firm O'Neal Webster Opens New York Office
The opening may portend broader and more direct engagement of offshore firms with onshore clients.
11/16/2018
Funding a Revocable Trust: An Estate Planning Opportunity
The donor, or grantor, is the individual who creates the trust and transfers her personal assets into it. The trustee manages the trust and its assets as directed by the trust document.
11/16/2018
The SEC stays active in 2018 with continued action from its enforcement division
In our view, the Division’s first principle—focus on main street, retail investors—is a bit of a shift in priorities by the current administration, away from attention on the Wall Street institutions and the practices that many blamed fo
11/16/2018
Corporate America flees zero-tax Caribbean havens after crackdown
American corporations have used tax havens for years to avoid higher levies where they actually earn the income.
11/16/2018
Hedge fund and principals to pay over USD1m to settle CFTC charges of fraud and registration violations
The CFTC cautions that orders requiring repayment of funds to victims may not result in the recovery of any money lost because the wrongdoers may not have sufficient funds or assets.
11/15/2018
Offshore Hedge Funds to Be Targeted by New IRS Rules Coming Soon
The soon-to-be-released rules will also likely encompass “quite a few other issues”
11/14/2018
Japan’s Banking Giant MUFG Signs MoU to Develop Ripple-Based Remittances to Brazil
“The new payment system [...] will assist the banks as they work toward commercializing a high-speed, transparent and traceable cross-border payments solution between Japan and Brazil,”