09/04/2018
Setback for Irish developer seeking return of passport
Mr Kelleher says he had no knowledge of the injunction when he funded the Cayman litigation.
Legal, Regulation & Compliance
09/04/2018
JPMorgan Will Pay $24 Million to End Lawsuit From Black Advisers
Instead of fighting it in court, the bank agreed to pay $19.5 million to the members of the class, according to Aug. 31 filings.
09/03/2018
Why are Bank of America customers being questioned about their citizenship status?
The bank said in a statement obtained by the paper that it "may periodically request information, such as country of citizenship and proof of US residency".
09/03/2018
Financial system risk is elevated and global standards are essential in managing cross-border infrastructure investment
The report says the financial outlook will also be shaped by China’s ability to manage risks relating to high indebtedness and leverage in its banking, shadow banking and wealth management industries.
08/31/2018
IP Pressures Could Fuel More Law Firm Mergers
Venable and Fitzpatrick Cella, one of the largest IP boutiques in the country, revealed plans for the combination last week.
08/30/2018
JPMorgan sues $14B Merrill team for 'bad-mouthing'
JPMorgan accuses the advisors of "bad-mouthing JPMorgan" to clients by making false statements about the firm's ability to serve investors.
08/30/2018
Thompson Hine Recognized Again in Chambers High Net Worth Guide
“They do an excellent job, they’re present in the market, they’re known, and they have a reputation as being top-flight attorneys with broad skill sets.”
08/30/2018
SA tech entrepreneur charged for fraud in New York amid shocking allegations of how he may have lied and cheated to get money
A SA entrepreneur has been charged for fraud in the US as the authorities there accuse him of stealing almost R9 million from investors in a “massive securities fraud scheme”.
08/29/2018
DOJ wants to exclude expert testimony proposed by ex-Deutsche Bank traders in LIBOR-rigging case
The defendants’ proposed expert testimony as to the adequacy of the government’s discovery, establishment of the conspiracy, and benefit or harm to Deutsche Bank’s counterparties is incurably improper, the DOJ argues.
08/29/2018
CFTC orders UBS to pay USD15m penalty for attempted manipulation and spoofing of precious metals futures
Today’s enforcement action demonstrates the Commission’s continued commitment to root out manipulation and spoofing in our markets
08/29/2018
Swiss bank makes $60M deal with US over hidden accounts
Bank Admits to Helping U.S. Taxpayers Conceal Income and Assets from the United States; Agrees to Pay $60.4 Million
08/28/2018
SEC orders asset manager to pay $97m over ‘faulty’ models
The errors related to models used by the subadvisor of the products, Aegon USA Investment Management, from July 2011 to June 2015.
08/27/2018
Global Economy / Are U.S. regulations functioning 10 years after Lehman collapse?
The epicenter of the global crisis was Wall Street in New York.
08/24/2018
Brokers, advisers and insurance agents implicated in alleged $100 million investment fraud
In all, around 370 advisers sold the Future Income Payments, according to plaintiff's attorneys
08/23/2018
Fintech Without Borders: Regulators Consult on Global Financial Innovation Network
The Consultation builds on the FCA’s proposal earlier this year to create a “global sandbox” for innovative financial services firms.
08/23/2018
Credit Suisse Wealth Unit Froze $5 Billion on Russia Sanctions
The international wealth management unit manages 370 billion francs in private banking assets.
08/23/2018
Former Julius Baer banker pleads guilty in $US1.2b Venezuelan cash laundering
Two years ago, Switzerland seized $US118 million ($160.5 million) in bank assets linked to a Venezuelan businessman who has admitted to bribing PDVSA officials to steer about $US1 billion in energy-supply contracts.
08/23/2018
Will Paul Manafort go to prison? After guilty verdict, here's how much prison time Trump's former campaign Chief could get
Manafort faces a maximum sentence of 80 years for the eight guilty verdicts. A sentencing date has been set for August 29.
08/22/2018
Merrill Lynch Settles SEC Charges of Undisclosed Conflict in Advisory Decision
The SEC’s order finds that the conflict of interest arose in Merrill Lynch’s handling of third-party products managed by a U.S. subsidiary of a foreign multinational bank, in which more than 1,500 of Merrill’s retail advisory accounts ha
08/22/2018
Brazil moves ahead with data protection law
The Brazilian President has approved a law focusing on data privacy that is being called, the ‘Brazilian GDPR’.