05/16/2017
BigLaw May See Wave Of Sex Bias Suits From Senior Partners
Proskauer isn't the only firm that has faced gender discrimination claims Chadbourne and Sedgwick are defendants in similar suits.
Legal, Regulation & Compliance
05/15/2017
City of Philadelphia sues Wells Fargo; bank calls claims 'unsubstantiated'
The lawsuit also claims that Wells Fargo was aware of this alleged practice and, in fact, incentivized the marketing of the high-cost or high-risk loans to minorities.
05/15/2017
HSBC settles bondholders' claims of Libor manipulation
Libor, or the London Interbank Offered Rate, is used to set rates on hundreds of trillions of dollars of transactions
05/15/2017
SEC Charges Former Head Traders at Nomura With Fraud
The SEC alleges that James Im and Kee Chan each misrepresented price information while acting as intermediaries on trades with Nomura’s customers who sought to buy and sell CMBS on the secondary market.
05/15/2017
Barclays Prevails As Justices Decline $143M Safe Harbor Case
Her August argument that the Second Circuit wrongly let bankruptcy law displace state law was unavailing.
05/14/2017
US strikes $5.8m deal on Russia money-laundering case
Settlement closes decade-long probe into real-estate scheme
05/12/2017
Hedge Funds Are Facing a U.S. Criminal Probe Over Bond Valuations
Firms said to inflate securities’ value to bolster returns
05/12/2017
A former IRS officer sentenced for tax evasion
Henti Baird, a resident of North Carolina, was sentenced to 43 months in prison for tax evasion and going against internal revenue laws
05/11/2017
The Volcker Rule: How Trump’s New Regulator May Unleash Big Banks
Keith Noreika, acting comptroller of the currency, in exclusive interview, says agency could reinterpret proprietary trading definition
05/11/2017
Money Talks in New York City – But Not For Long
Applicants who believe the law has been violated may choose to bring a claim either to the New York City Human Rights Commission (the New York City governmental agency charged with enforcing the NYCHRL) or by civil lawsuit in the New York State Court syst
05/11/2017
FINRA Approves New Proposal To Reel In High-Risk Brokers
A comment period will follow a coming regulatory notice.
05/10/2017
Buy 'repatriation stocks' because that is sure to make the cut in the final tax bill, UBS says
S&P 500 companies hold about $2.4 trillion in unrepatriated profits and more than $1 trillion cash overseas, according to UBS.
05/10/2017
RBC Eyes Bigger Cut of $40 Billion in U.S. Investment-Bank Fees
Domestic rivals Bank of Montreal and Toronto-Dominion Bank also are seeking ways to gain more U.S. investment-banking business.
05/10/2017
Barclays to Pay $97 Million for Overcharging Clients
Barclays also collected excess mutual fund sales charges or fees from 63 brokerage clients by recommending more expensive share classes when less expensive share classes were available
05/10/2017
Wells Fargo Probes Client Handling at Chicago Wealth Branch
Investigation is unrelated to ‘cross-selling’ scandal
05/09/2017
Chile: Ex-President Piñera Denies Hiding Fortune After Declaring Net Worth of USD $600 Million
Sometimes they criticize me because my net worth is very high, now apparently they criticize me because my net worth is not so high. I do not know how to please those who do not have good will towards me.
05/09/2017
‘Frustrated’ EU politicians step up pressure on US over Fatca
Members of the European Parliament have asked the European Commission to open talks with the US to make data exchange under the Foreign Account Tax Compliance Act (Fatca) reciprocal.
05/09/2017
Nomura Trader Portrayed as Thief at Ex-Colleagues' Fraud Trial
Frank DiNucci Jr. is testifying for prosecutors in plea deal
05/09/2017
US hedge funds raises the stakes on takeover for big North East employer Akzo Nobel
Activist investor Elliott Advisors is to take legal action to oust Akzo's chairman and force through a takeover by US rival PPG
05/08/2017
Finra Board to Focus on Rogue FAs, Unpaid Awards
The board will consider amendments to rules governing oversight of high-risk brokers and the companies that hire them as well as further guidance on supervision.