04/27/2018
Barbados-Based Banking Subsidiary Caught up In Canadian Tax Avoidance Case
According to news reports, Loblaw could have to shell out as much as CAD$406 million (US$316 million) if it loses the case.
Legal, Regulation & Compliance
04/25/2018
Another fork in the road? Cryptocurrency class action lawsuit alleges securities violations and demands “rescue fork” as remedy
Cryptocurrency companies and users are waiting to see how the legal and regulatory industries react to them and the underlying Blockchain technology.
04/25/2018
Scotiabank fund manager to pay fine for lavish spending on promotional activity
According to the settlement, the investment firm, which is the manager of the Dynamic family of mutual funds, failed to meet the minimum standards of conduct from November 2012 to October 2017.
04/25/2018
Merrill Lynch Faces Gender Discrimination Suit
Whipple says her signing bonus of $412,000 was actually a loan that she had to pay back to Merrill Lynch at 1.95% interest deducted from her pay, InvestmentNews writes.
04/25/2018
Morrison Cohen LLP Launches Family Office Group
Morrison Cohen is in position to offer family offices a full complement of services seamlessly among its various practice areas.
04/24/2018
China makes new move to catch fugitive billionaire Guo Wengui
Amid rising Sino-American trade tensions, U.S. President Donald Trump might try to use Guo, who lives in a New York City penthouse, as bargaining chip with China.
04/24/2018
Why this asset management firm is seeking deposit insurance
The trust company, which had $28.5 billion in assets under custody on Dec. 31
04/23/2018
Antitrust legal quick tips. Foreign investment review: five key antitrust tips
Against this backdrop, companies contemplating cross-border M&A must be aware of foreign investment review regimes and plan accordingly.
04/20/2018
Fired UBS Employee Looks to Mount Class Action for Age Discrimination
Friedman is no newcomer when it comes to suing wirehouses and has won more than $300 million in class action settlements from them for former employees.
04/20/2018
Mutual-fund regulators push for more fee transparency
In July, 2017, regulatory changes known as the second phase of the client relationship model – or CRM2 – were put in place to provide investors with greater transparency concerning the fees they pay for financial advice.
04/20/2018
US regulator to extend fiduciary rule
At present, though only as of recently, investment advisers must put their clients' interests ahead of their own. However, brokers are merely required to ensure any investment recommended is appropriate.
04/19/2018
US bank Wells Fargo said to be target of US$1 billion fine over alleged misdeeds
It would mark the toughest action that the Trump administration has taken against a major bank. And it is the latest blow to Wells Fargo, which for years was regarded as one of the country's best-run banks but lately has been reeling from a string of
04/18/2018
Andersen Global Announces Expansion in Argentina
Modo provides a range of tax and legal services for both individuals and corporations, utilizing technology as a differentiating element for the provision of services.
04/15/2018
Long Island Hedge Fund Manager Gets 57-Month Imprisonment For Stealing $3M From Investors
The government’s case is being handled by the Office’s Long Island Criminal Division. Assistant United States Attorneys Bradley T. King and Madeline M. O’Connor are in charge of the prosecution.
04/14/2018
SEC warns advisers to toe the line on fees
A risk alert highlights areas where the commission has seen mistakes and misconduct when it comes to charging fees for financial advice
04/13/2018
Federated Investors takes majority stake in fund manager Hermes
Hermes will remain headquartered in London as a subsidiary of Federated.
04/13/2018
Pilatus chairman was granted asylum in United States, green card in 2012
Ali Sadr Hasheminejad, who is accused of bank fraud and skirting Iran sanctions in the United States, is pleading not guilty to the charges
04/12/2018
US imposes sanctions on three Russia-linked Jersey companies
The JEP notes that all three of the Jersey companies are shown in Jersey Company Registry documents to be registered at 44 Esplanade, at the Jersey offices of Intertrust, an Amsterdam-based trust and corporate services provider.
04/12/2018
Chile eases ban on AFP hedge fund access
The change walks back rules stemming from a wide-ranging reform to boost AFP access to alternatives that came into effect November 1 and banned investments in hedge funds, directly and through vehicles that mimic their strategies.
04/12/2018
Sompo employee sues Chubb over $600,000 compensation
At the time of his separation, Chang’s compensation account balances exceeded $880,000, including more than $600,000 related to vested deferred stock awards, according to the claim.