10/17/2018
Notice Regarding Settlement with U.S. Department of Justice
The U.S. Subsidiaries do not admit any facts, liability or wrongdoing in connection with the settlement and they dispute the allegations made by the DOJ.
Legal, Regulation & Compliance
10/17/2018
IRS to revoke 260,000 American passports
The State Department denies passport applications based on the information on outstanding debts it receives from the IRS.
10/17/2018
SEC rules NYSE and Nasdaq did not justify data fee increases
Landmark decision puts pressure on exchanges over cost of trading data
10/15/2018
CEO Predicts Cannabis Industry Can Bank Legally By Christmas
Linton initially alluded to a first of the year development.
10/15/2018
Bridgewater warns Fed could turn ‘hot’ economy to ‘mediocre’
World’s largest hedge fund expects market turbulence as economy begins to cool
10/15/2018
The U.S. Needs to Crack Down on White-Collar Crime
What makes Michael Cohen different from other fraudsters? He got caught.
10/12/2018
Global Financial Markets Regulatory Review
Reported items include proposed legislation, rule changes, disciplinary actions, litigation, and other news.
10/12/2018
Basel AML Index reveals slow progress in combating money laundering
The findings tie into recent high-profile probes involving countries generally considered low-risk.
10/12/2018
Tax, Fiduciary and Philanthropic Requirements in 60 Countries - RESEARCH
A similar report was first produced by the two organizations in 2015.
10/11/2018
Ex-Wilmington Trust execs avoid life sentences; face possible decade in jail
During the two-month trial, prosecutors showed the crimes contributed to the demise of the once-venerable Delaware institution and with it the loss of millions of investors' dollars.
10/11/2018
Tighter Monetary Policy Likely to Shape the Markets Through 2018 and Beyond
Once the Fed reaches its neutral rate, monetary policy will have a greater impact on the direction of the economy and markets.
10/11/2018
Frank Stronach suing daughter Belinda over family fortune
New Jersey’s Throroughbred Daily News broke the news after obtaining a 73-page lawsuit from the Ontario Superior Court of Justice.
10/11/2018
NY fines UAE's largest bank over lax money-laundering safeguards
DFS Examinations Found Multiple Deficiencies in the Bank’s Compliance with Anti-Money Laundering Laws and Office of Foreign Asset Controls Regulations
10/11/2018
PA accused of stealing Goldman CEO’s wine jumps to his death
He was accused of stealing hundreds of bottles of wine from Solomon between 2014 and 2016.
10/09/2018
Wells Fargo Sued for Breach of Fiduciary Duty in Churning Allegations
It also highlights a dubious practice of securing multiple insurance policies for a client.
10/08/2018
KPMG in Canada and Agentis Capital form strategic alliance
Collaborative agreement expands services offering for existing and new infrastructure clients
10/05/2018
Judge Rules Racial Bias Claim Against Bank Must Go to Private Arbitration
The New Jersey resident said he was given negative performance reviews, denied raises and bonuses, deemed too “verbose,” and subjected by a supervisor to the nickname “Johnny” because of his race.
10/04/2018
Global Financial Institutions Fined $26 Billion for AML, Sanctions & KYC Non-Compliance Since 2008 Financial Crisis
Over the past ten years, regulators across the US, Europe, APAC and the Middle East have levied nearly $26 billion dollars in financial penalties against financial institutions for AML/KYC and sanctions-related violations.
10/03/2018
TMF Group launches Retirement Scheme for US expats
First of its kind scheme for US permanent residents and citizens employed outside of the USA.
10/02/2018
U.S. Takes on Russia’s Favorite Money Haven: Cyprus
Washington regulators crack down on money laundering in the tiny Mediterranean island in a bid to check Moscow’s power in Europe