03/29/2017
DLA Piper announces cooperation agreement with Peruvian firm Pizarro, Botto & Escobar Abogados
This is in addition to the firm's cooperation agreement with Campos Mello in Brazil.
Legal, Regulation & Compliance
03/29/2017
Deutsche Bank unit sentenced in US Libor manipulation
The London unit already had pleaded guilty and agreed to pay that amount in April 2015, after admitting to its role in manipulating the benchmark London Interbank Offer Rate, a key interest rate.
03/29/2017
SEC Halts Fraud Targeting Seniors
The SEC encourages investors to check the background of anyone offering to sell them investments.
03/29/2017
Citi Appointed by Victory Capital to Provide ETF Services for its Exchange Traded Funds Business
Through its intermediary channel, Victory Capital also offers retail and retirement clients mutual funds and ETFs
03/29/2017
SEC Issues New Sources of Custody Rule Guidance
The guidance update contemplates custody that arises from authority that goes beyond the foregoing arrangements
03/29/2017
FINRA Proposal to Allow Broker-Dealers to Distribute Predictive Illustrations
Supervision continues to be a key element of compliance with FINRA’s customer communications rule.
03/29/2017
Manafort-Linked Accounts on Cyprus Raised Red Flag
After questions were raised, Manafort closed the accounts
03/29/2017
Investors Pay If Wall Street Wins a Fiduciary-Rule Delay
Cutting the rule entirely will cost investors billions more.
03/29/2017
Judge Fines Bank of America $45 Million for ‘Heartless’ Treatment of Mortgage Borrowers
Amount meant to be large enough that it won’t ‘be laughed off in the boardroom,’ judge says in ruling
03/29/2017
Regulators Tell Foreign Banks to Improve Living Wills
The plans map out how a bank would wind down in the event of material financial distress or failure of the company.
03/28/2017
Panama claims solid case against mossack fonseca
A separate investigation is ongoing into Mossack Fonseca and the Panama Papers.
03/28/2017
CRA publishes new compliance guidance for CRS, FATCA
The CRA will exchange that information with other jurisdictions in 2018.
03/28/2017
Former fund manager who lost millions in Madoff scam falls to death from New York hotel
He was pronounced dead at the scene.
03/28/2017
What do Americans know about retirement and what do they expect?
Seventy percent of survey respondents are relatively uncertain about their retirement-related financial literacy, rating themselves either “somewhat” or “not too” knowledgeable. More worryingly, both self-assessed and actual knowle
03/27/2017
Fidelity's RIA business: a strong No. 2 that's working harder
The firm doesn't have as many adviser assets as rival Charles Schwab & Co., but together they control 70% of the market
03/27/2017
Latin America and Carribbean Tax Revenues Rise: OECD
The average tax-to-GDP ratio across LAC countries is currently 11.4 percentage points lower than the OECD average of 34.3 percent.
03/27/2017
Firm Sues Former Lawyer, Alleging He Stole Client Information and Operated His Own Firm on the Side
The firm, which is also called MLMJ.
03/27/2017
RIA and Broker Found Guilty in $15M OTC Fraud
Led by “recidivist securities fraud defendant” Edward Durante, who pleaded guilty to the scheme last year, the fraud involved artificially inflating the price and volume of VGTel stock to attract private investments
03/26/2017
Obama’s fiduciary rule is a disaster, warns former SEC regulator
Norm Champ backs US president to reduce red tape stifling the financial sector
03/24/2017
SEC gives green light for T+2 implementation
The cycle reduction is intended to enhance efficiency and reduce risk, and would align the U.S. with the European Union, which has used a T+2 cycle since 2014.