03/26/2018
Steward Partners heads west, hiring $600M team from RBC
Founded in 2013 by former wirehouse managers, Steward Partners had already grown to include 13 offices on the East Coast.
Legal, Regulation & Compliance
03/26/2018
Bank of America Merrill Lynch fined $42m for fraudulent electronic trading activities
The investigation also revealed that the firm made their electronic trading services look safer and more sophisticated than they actually were.
03/26/2018
Regulator planning to look under hedge funds' hoods
While examiners could call in enforcement investigators in case they see red flags, their main objective is to inform how the SEC’s rules should address the burgeoning field of cryptocurrency investment.
03/26/2018
How Trump's trade policies may impact the Fed: Societe Generale
ariffs could force the Federal Reserve to raise interest rates even faster, according to Societe Generale Chairman Lorenzo Bini Smaghi told CNBC at the China Development Forum.
03/25/2018
Portland-Area Man Wins Reported Seven-Figure Whistleblower Settlement from Wells Fargo
Formerly enslaved by the Khmer Rouge, Duke Tran lived the American dream until a big bank fired him.
03/25/2018
Wells Fargo thinks its time to buy into the sell-off, even with fears over trade wars and rate hikes
The market cycle is not over, says Wren.
03/23/2018
More moves towards global transparency in Curacao as CRS takes effect
As long as you’re tax compliant, the forthcoming deadline for first reporting should not be a big worry for you
03/23/2018
Guatemala moves towards transparency in banking - TMF
Those who do not register one or several bank accounts that are in the name of a person or financial groups of the country, or foreigners, will be classified as “resistant”.
03/23/2018
Finra Bars Broker for Impersonating Clients
Cochran and his father also saved their clients’ login credentials and traded based on verbal discretion alone, according to the publication.
03/22/2018
Morgan Stanley and Beverly Hills Broker Sued over Sexual Harassment
“Ladge’s real purpose in hiring Alcantara—a beautiful young woman in her mid-twenties at the time—was to try to exploit his power with Alcantara, to subject her to demeaning and harassing behavior, to use her beauty to attract clie
03/22/2018
UBS to pay $230m fine for toxic securities sale in New York
UBS was accused of selling RMBS to investors based on inaccurate statements, and failing to adhere to underwriting guidelines or applicable laws in this regard.
03/22/2018
UBS Settles New York Probe
Additional resources will be dedicated to helping communities transform their code enforcement systems and invest in land banks.
03/22/2018
Legal battles loom between broker-dealers and departing advisers
As big names leave the industry’s adviser pact, lawsuits follow
03/22/2018
Morningstar and Prudential Win RICO Suit Dismissal
The unsuccessful challenge was viewed as somewhat unique amid the glut of retirement industry litigation because it cited the Racketeer Influenced and Corrupt Organizations Law of 1970, known as RICO.
03/22/2018
Under Advisement: SEC Scrutinizes Wealth Management Industry
The SEC has also made a series of announcements aimed at addressing misconduct by investment professionals in their dealings with retail investors.
03/21/2018
UBS ordered to pay $204,000 in Puerto Rican bond claim
Finra panel says firm was liable for breach of contract and unsuitability
03/21/2018
Wells Fargo Denies FBI Reviewed Wealth Unit
Questioning was conducted by company-hired lawyers, not the FBI, an exec says, but nonetheless ‘clients are commenting on this,’ says Danny Sarch.
03/21/2018
Bogotá Chamber of Commerce looks to Africa, Asia and Middle East for stronger commercial ties
The agreement was signed by Hamad Buamim, President of the Dubai Chamber, and Mónica De Greiff, Executive President of the Bogotá Chamber of Commerce.
03/20/2018
SEC awards Merrill Lynch whistleblowers a record $83 million
$83 Million Awarded to Group That Blew the Whistle on Merrill Lynch
03/20/2018
Akin Gump Involved in Korean Corruption Scandal Implicating Former President Lee
Longtime client Samsung is alleged to have paid the U.S. firm $3.7 million in legal fees on behalf of another company in exchange for a presidential pardon for group chairman Lee Kun-hee.