12/20/2016
Treasury Issues Final Regulations to Address Use of U.S. LLCs to Disguise Beneficial Ownership
The new regulations take effect for taxable years beginning after December 31, 2016.
Legal, Regulation & Compliance
12/20/2016
The Wait is Over
Proposed 2704 regulations pack a wallop.
12/20/2016
Credit Suisse Facing Huge Penalty
The Swiss bank is also defending itself against lawsuits by the New York and New Jersey attorneys general over similar claims involving billions of dollars of investor losses.
12/19/2016
J.P. Morgan draws IRS whistleblower complaint over pension funds
A whistle-blower now claims that JPMorgan’s misdeeds went beyond a failure to disclose.
12/19/2016
Deutsche Bank to pay to end 'Dark Pool' probe
One focus of the trading-platform probes has been whether the banks withheld information that might have led clients to route orders elsewhere.
12/19/2016
How Panama's revolving door helps shadowy industry defy reform
As pressure grew from media and governments around the world, Panamanian officials shifted to a more conciliatory stance.
12/16/2016
New York regulator fines Italy's Intesa Sanpaolo US$235 million
Intesa Sanpaolo and its New York branch mismanaged its transaction monitoring system and failed to identify suspicious transactions
12/16/2016
Canadian Securities Regulators Release Review of Practices Firms Use to Compensate and Provide Incentives to their Representatives
The survey findings highlight potential conflicts of interest that could arise from some of these practices.
12/16/2016
Yumin Li and Kering Capital Fined $1.2m for Prearranged Trading Fraud
Li and Kering have been charged with fraudulent transactions engineered by Li on the CME's trading platform.
12/15/2016
Credit Suisse must face New York mortgage suit, court says
Credit Suisse Group AG must face New York Attorney General Eric Schneiderman's US$10 billion lawsuit accusing the bank of fraud in the sale of mortgage-backed securities before the 2008 financial crisis, a state appeals court ruled Tuesday. The Zuri
12/14/2016
Dems launch investigation into Wells Fargo's insurance sales
The lawmakers say they are concerned that Wells shoddy retail practices extended beyond the unauthorized opening of bank and credit card accounts.
12/14/2016
SEC Files Charges in $26 Million Stock Manipulation Scheme
The complaint seeks a permanent injunction as well as the return of ill-gotten gains plus interest and penalties.
12/14/2016
Citi Private Bank Law Firm Group and Hildebrandt Consulting Announce 2017 Citi Hildebrandt Client Advisory
Based on the data compiled in this year’s advisory, 2017 will likely be another year of modest industry growth in an uncertain and fragile global economy and market for law firm services.
12/14/2016
Dodd-Frank Wall Street Reform and Consumer Protection Act
According to the guidelines adopted by the Board, firms seeking an extension should submit information including details about the funds
12/13/2016
UBS wins $4.5M clawback case against 2 advisers
When UBS was recruiting them, it neglected to inform the duo of critical firm policies that were later to pose obstacles in transitioning their business over, Brecher says.
12/13/2016
Judge tosses $500 million fraud case against UBS
An investment vehicle that incurred the loss.
12/12/2016
SEC Awards Nearly $1 Million to Whistleblower
SEC protects the confidentiality of whistleblowers and does not disclose information that might directly or indirectly reveal a whistleblower’s identity
12/12/2016
Gabonese man charged in U.S. hedge fund bribery probe pleads guilty
He faces a maximum of five years in prison and is scheduled to be sentenced on April 6.
12/12/2016
Prudential investigating Wells Fargo partnership after scandal
Wells Fargo could have been signing up customers for insurance without their consent
12/12/2016
Ex-Swiss banker goes home after U.S. loses extradition from Germany
By German court order, he was officially released on Friday after the U.S. request to extradite him was denied.