12/10/2015
JPMorgan to Soon End 'Product Steering' Probe for $150M?
JPMorgan plans to settle the matter for over $150 million. The settlement, which was expected to be resolved several months ago, could be announced as soon as Friday.
Legal, Regulation & Compliance
12/10/2015
Marijuana Investors Get Boost From N.Y. Legalization
The four other pot dealers that were granted licenses by the New York Department of Health are Bloomfield Industries, Columbia Care NY, Etain and PharmaCann.
12/10/2015
Banks Seek Capital From Fed in Wake of Dividend Reduction
Big banks want lawmakers to lower capital they must keep at Fed’s reserve banks
12/10/2015
Former Head of Offshore Brokerage Pleads Guilty to Conspiracy to Commit International Stock Fraud and Money Laundering Scams
Gallison admitted that he and others then “dumped” or sold the shares at the inflated prices and laundered proceeds through bank accounts in the United States and overseas.
12/10/2015
Justice Department Announces Two Banks Reach Resolutions Under Swiss Bank Program
Banks already under criminal investigation related to their Swiss-banking activities and all individuals were expressly excluded from the program.
12/10/2015
BTG Pactual Said to Work With Lazard on Swiss Private Bank Sale
BTG and the New York-based financial adviser are reaching out to possible buyers including Swiss banks and foreign lenders
12/09/2015
U.S. Appeals Court Overturns SEC Commissioners in State Street Case
The decision is a defeat for SEC Chair Mary Jo White, who last December joined a 3-2 majority in holding Flannery and Hopkins civilly liable.
12/09/2015
Donald Trump could spook financial markets in 2016
The observation from Nigel Green, the founder and CEO of deVere Group, comes after the U.S. Republican presidential candidate sparked worldwide controversy by announcing he wants to ban Muslims entering the United States.
12/09/2015
MarketCounsel: RIAs need their own SRO
The problem with advisor examination is not the frequency, but the content.
12/09/2015
Former Western Asset Employee Arrested on Cyber-Intrusion Charges
Former employee accused of illegally accessing company emails
12/09/2015
US and Dominican Republic sign mutual recognition arrangement
The United States has now signed 11 MRAs with other customs administrations across the world.
12/08/2015
DOJ Urges Justices To Reject Appeal By Ex-UBS Execs
In its opposition, the DOJ maintained its argument that the 1989 Financial Institutions Reform Recovery and Enforcement Act covers the actions of Peter Ghavami
12/07/2015
SEC prepares new Credit Suisse charges
The case is unusual for the watchdog, so it is not clear what kind of penalties Credit Suisse might face.
12/06/2015
SEC to Consider Rule to Limit Funds' Use of Derivatives
White also noted the recently proposed rule to enhance data reporting by investment companies and advisors
12/06/2015
Madoff Trustee Begins $1.19 Billion Payout to Victims
The latest payout will go to holders of 1,071 accounts at the former Bernard L. Madoff Investment Securities LLC.
12/05/2015
A global law firm decides there's no place like home
They say you can never go home again, but Baker & McKenzie wants to try.
12/04/2015
The IRS Is Losing Hundreds of Criminal Investigators
Despite those victories, these are dark days for CI agents.
12/03/2015
SEC: Grant Thornton Ignored Red Flags in Audits
They violated professional auditing standards by failing to take reasonable steps to determine that an agreement with the lessor
12/03/2015
SEC Revives Failure To Supervise Case Against Billionaire Steven A. Cohen
The failure to supervise charge will now move to a hearing, set to begin in mid-December.
12/03/2015
Bank of China appeals disclosure order in counterfeit case
The Bank of China is appealing a decision by a New York court to fine it $50,000 a day for withholding information about counterfeiters' bank accounts in China.