07/19/2017
Shkreli Witness Had Front-Row Seat to Fund Train Wrecks
Before Pierotti described that plot he told the jury he witnessed Rajaratnam trading on inside information.
Legal, Regulation & Compliance
07/19/2017
FINRA Claim Filed Against UBS Financial Services
The suit is being arbitrated through Finra case number 17-01863 and UBS has yet to file a response.
07/19/2017
Morgan Stanley Sued Over Alleged Sexual Harassment
One unnamed manager had allegedly requested Xiao send him sexually explicit photos of herself and then withdrew his offer for her to join his team, according to the suit cited by the website.
07/17/2017
Feds want to seize Nigerian playboy’s yacht, penthouse
But the feds will have to get in line.
07/17/2017
Qualcomm faces fines after losing court bid in EU probe
Qualcomm could be on the hook for penalties ‘in the range of several millions of euros’ for resisting the call for the data
07/14/2017
Withers tops list of Private Client Global Elite
Our position as the most well-represented firm is a testament to our sustained efforts at building an international business that serves every legal need of our clients.
07/14/2017
SEC Announces Charges in Massive Telemarketing Boiler Room Scheme Targeting Seniors
The SEC’s Office of Investor Education and Advocacy previously issued an alert warning investors that aggressive stock promotion is a red flag of fraud.
07/13/2017
An HSBC Money Laundering Report Can Stay Confidential—For Now
Public trust and confidence in the rule of law and the judicial system was at stake.
07/13/2017
UBS Lawsuit Hinges on Definition of Solicitation
In the lawsuit UBS claims the four advisors breached non-solicitation provisions
07/12/2017
HSBC, UBS settle U.S. rate-rigging litigation; 10 banks' total payout tops $408 million
The eight earlier settlements have won preliminary approval.
07/11/2017
Advisor Licensing is Becoming Much Easier
The approved revamp will also split exams into an entry-level “securities industry essentials” exam and additional exams addressing specific securities and principal licenses, according to the publication.
07/11/2017
Stifel's Hiring Push Aims to Thwart DOL Rule Slowdown
The main culprit, he says, isn’t any slowdown in unwinding of forgivable loan packages and other incentives offered by wirehouses and broker-dealers.
07/10/2017
Fund manager MFS sued for self-dealing in its 401(k) plans
The plaintiff claims the plans were "loaded" with proprietary mutual funds, and 98% of the investable assets were held in company-affiliated investments
07/10/2017
U.S. Banking Group Anticipates Modest Growth in Economy in 2018
The Economic Advisory Committee of the American Bankers Association foresees Federal Reserve rate hikes in the next year.
07/10/2017
Trump to nominate investment fund manager Randal Quarles to key Federal Reserve post
Quarles’ nomination has been rumored for weeks.
07/09/2017
Investors will soon benefit from reduced charges
This cost makes up the bulk of the expenses that are levied against assets and which cut investors’ overall returns.
07/07/2017
HSBC case to provide insights on new US Justice Dept’s approach to banks
It could give an early indication of how the new administration would levy financial penalties.
07/06/2017
DOL Urges Court: Uphold Fiduciary Rule Despite Review
The Labor Department is currently reviewing the fiduciary rule, which purports to require retirement account advisors to put clients’ interests first and went into partial effect June 9.
07/06/2017
Merrill Lynch salesman describes shock, anger after Shkreli lost $7 million for Merrill on short trade and then threatens firm if it tries to collect
Martin Shkreli allegedly told Merrill Lynch it could absorb the loss on an Orexigen short sale.
07/06/2017
Vince Holding Corp. Amends Term Loan and Revolving Credit Facility Agreements
We also expect that this will alleviate the pressures on our borrowing capacity that we have seen from the accelerated terms and prepayment requirements imposed by certain vendors.