09/09/2016
Two Firms Charged With Compliance Failures in Wrap Fee Programs
Raymond James agreed to pay a $600,000 penalty to settle the charges and Baird agreed to pay a $250,000 penalty.
Legal, Regulation & Compliance
09/09/2016
Executives Charged With Inflating Performance of Real Estate Investment Trust
After warnings from internal accounting staff that an incorrect method was used to calculate AFFO in ARCP’s 2014 first quarter financial results, Block falsified the company’s AFFO presentation in the final hours before filing the company&
09/09/2016
High-profile art collector charged With tax evasion on art and luxury purchases
He pleaded not guilty, and was released on a $500,000 bail.
09/09/2016
Former Merrill Lynch Brokers, Bank of America Agree to Settlement
U.S. judge approves $12.8 million deal between bank, about 270 former advisers
09/08/2016
Industry Groups to SEC: Business Continuity Failures Are Not Fraud
This rule would characterize such deficiencies as a failure of a firm’s compliance program, not fraud.
09/08/2016
Investment manager’s secrets are keeping him in jail
The Securities and Exchange Commission said in a Wednesday filing that nothing had happened and argued for Kapur’s continued detention.
09/07/2016
Fed policymakers defend role of private bankers at central bank
But Fed officials say private bankers offer insights on the nation's economy and a check on central authority in Washington.
09/07/2016
U.S. regulators to allow BlackRock funds to lend to one another
BlackRock first asked the regulatory agency in 2015 for permission to let its mutual funds borrow cash from one another
09/06/2016
Huge Brazil police raid targets $2.5-bn pension fraud
Brazilian police staged a massive raid Monday to crack down on what they described as rampant fraud in the pension system
09/06/2016
Israeli Court Issues FATCA Injunction
The US Congress enacted FATCA in 2010 to target non-compliance by US taxpayers using foreign accounts.
09/05/2016
Apple's top lawyer fires back at EU over tax ruling
After being told the company owes $14.5 billion in back taxes, Apple's general counsel says the European Commission has its numbers wrong.
09/05/2016
HSBC'S Foreign-Exchange Dealings Under Scrutiny Again
Such an incident of suspected malpractice is nothing new for HSBC, a bank that has regularly caught the attention of US regulators in recent times.
09/02/2016
BNY Mellon Says Ex-Atherton Owners Poached Bankers, Clients
The lawsuit names as defendants the new firm, Lyell Wealth Management LLC and its co-founders, all of whom worked for of Menlo Park, California-based Atherton.
09/02/2016
Yesterday, outraged by Apple’s tax dodge. Today, by its tax bill.
Most lawmakers and business groups do not see it that way.
09/02/2016
Good Technology Investors Sue J.P. Morgan, Claiming Conflicts
In an amended suit in Delaware Chancery Court, Good’s shareholders said that J. P. Morgan, the start-up’s banker, had faced so many conflicts of interest in its dealings
09/01/2016
RBC to Pay $2.5 Million for Proxy Statement Disclosure Violations
The SEC found that RBC’s presentation described one of its valuations as being based on Wall Street analysts’ “consensus projections” of Rural/Metro’s 2010 adjusted EBITDA, a pretax earnings figure.
08/31/2016
Five Areas Where We Need Regulatory Balance
In sum, the state of the American banking system is something both bankers and regulators can take pride in.
08/30/2016
Pershing Offers New Mutual Fund and ETF Solutions for Emerging and Mass-affluent Investors
New offering from Lockwood also assists registered reps looking to transition to fee-based advisory mode
08/30/2016
Buyout firms' hushed deals with top investors risk US regulators' ire
The so-called co-investments allow institutional investors such as pension funds and sovereign wealth funds to invest in target companies.
08/26/2016
Private Equity Fund Advisers Agree to Settle Charges of Improperly Disclosing Acceleration of Monitoring Fees and Improperly Supervising Expense Reimbursement Practices
The SEC found that the monitoring agreements allowed Apollo, upon the triggering of certain events, to terminate the agreement and accelerate the remaining years of the monitoring fees to be collected in a present value lump sum termination payment.