11/06/2016
Eyes wide shut on DOL fiduciary future
The advice industry is still largely speculating about what lies ahead
Legal, Regulation & Compliance
11/04/2016
Watchdog: IRS faces barriers in tax avoidance reviews
The IRS requires businesses to report transfer pricing transactions because the practice can be used to deflate profits in the U.S., thereby avoiding high corporate taxes.
11/03/2016
FINRA Capital Acquisition Broker Rules are a Solution for Private Equity and Hedge Funds and Private Investment Banking/M&A
The SEC traditionally has not viewed issuers of securities, such as hedge funds and private equity funds, as broker-dealers.
11/03/2016
CFP Board Suspends FA Allegedly Bilking Pro Athletes
Ticket Reserve ran into financial difficulties and relied on infusions from Narayan’s clients to stay afloat, in return for which the advisor received close to $2 million in finder’s fees from the firm, according to the regulator.
11/02/2016
Brazil’s amnesty collects CHF1.5 billion from Switzerland
The taxpayers and companies declared the equivalent of R$169.9 billion in undeclared assets abroad under the programme.
11/02/2016
Argentina: Argentina To Amend Its Legal Framework For Private Banking
The outcome the authorities are working in the regulation.
10/31/2016
Warren calls out KPMG for Wells Fargo disaster
WF hired KPMG to conduct independent audits
10/31/2016
Fiduciary rule to bring significant change to financial services
Industry grapples with meeting regulatory requirements
10/31/2016
US banking regulator to set up new office to boost fintech and blockchain innovation
The office will be the central point of contact and clearinghouse for requests and information related to innovation.
10/30/2016
Official hails program to track secret Swiss bank funds
Switzerland has long been a popular destination for financial criminals committing activities such as tax evasion and money laundering
10/30/2016
Broker-dealers split on commissions in wake of DOL fiduciary rule
Morgan Stanley, Ameriprise Financial, Raymond James and others announced whether they will retain commissions under new regulations.
10/27/2016
Athena Systems launches Athena Spark for Family Offices
That’s a very compelling time savings for offices that are typically only three to five people,” says Stefano Guarnieri, managing director at Athena.
10/27/2016
Corporations dodge $718 billion in taxes through offshore tax havens
These jaw-dropping numbers will keep getting bigger until we fix the corporate tax system.
10/26/2016
World Bank reports global record of business reforms
The report Doing Business 2017 shows that 137 out of 190 countries adopted pro-business measures in 2015
10/24/2016
SEC Charges Board Member With Insider Trading
He allegedly placed four more orders within an hour after the meeting ended.
10/24/2016
U.S. to seek ex-HSBC executive's extradition from Britain
The probe led to four banks last year pleading guilty to conspiring to manipulate currency prices.
10/24/2016
‘Lions hunting zebras’: Ex-Wells Fargo bankers describe abuses
Wells Fargo would like to close the chapter on the sham account scandal
10/24/2016
SECs Record-Setting Enforcement Actions Credited to Securities Fraud Whistleblowers
Whistleblowers across the globe aided in uncovering misconduct and contributed heavily to the overall success of the SEC’s fight against fraud.
10/20/2016
Platinum Partners' hedge fund holding Norman Seabrook's $20M investment files for bankruptcy
He got a $60,000 bribe in a black Ferragamo bag and luxury trips in return, officials said.
10/20/2016
FINRA: Merrill's system failures produced millions of inaccurate trading records
Merrill Lynch settled the case without admitting or denying the charges, but accepted the entry of FINRA's findings into its disciplinary record