03/17/2016
Foreign Financial Account Filings Exceeded 1 Million in 2015
U.S. citizens have long been required to report all worldwide income, regardless of its source.
Legal, Regulation & Compliance
03/17/2016
Vizor Software’s FATCA & AEOI Portal Launched by Government of Saint Christopher (St. Kitts) and Nevis
The intention is for St. Kitts and Nevis to use the Vizor platform for the Exchange of Information under the new standard.
03/17/2016
How Trusts And Estates Lawyers Can Double Their Revenues In A Year
Trusts and estates practices are – or certainly can be – exceedingly lucrative for the lawyer and the law firm. For example, with the boom in private wealth creation, there is a growing need to address intergenerational wealth transfers. At th
03/16/2016
U.S. Municipal Advisor Hit With First-Ever Charge for Fiduciary Breach
The case came after an unidentified city hired Central States in April 2011 as municipal adviser, according to the SEC's cease and desist order.
03/16/2016
SEC Charges Operator of Ponzi Scheme That Claimed to Offer “Bridge Loans” to Jamaican Businesses
The SEC complaint charges former Boston resident Mark A. Jones, who now lives in Miami and has a second home in Jamaica.
03/16/2016
FIFA files for compensation in U.S. as victim of corruption
FIFA announced on Wednesday it was also seeking repayment of salaries and a full audit of a former top official it says has continued to live an "extravagant lifestyle" while on bail from a New York Court.
03/15/2016
Judge Gives Green Light to Bill Gross Suit Against Pimco
Breach-of-contract suit seeks at least $200 million in damages
03/14/2016
SEC Charges Deteriorating Alts Platform
The trouble started in January 2014, when it made a big bet on student loans from for-profit college Corinthian Colleges
03/11/2016
Hedge Fund Billionaire Louis Bacon Says Clothing Mogul Peter Nygard Plotted Murder Over Beach House
Among the claims—physical attacks, firebombing cars, home and office break-ins, vandalism, and paying people to throw anti-Bacon rallies that claimed he was a racist, a murderer, and stock crook.
03/11/2016
Deutsche Bank, HSBC Fight Fed's `Unfair' Too-Big-to-Fail Plans
Both layers of debt deemed “readily available for bail-in” would have to be sold to the parent companies, rather than third-party investors, according to the draft rules, which were released for comment Oct. 30.
03/11/2016
Ganek Suit Over Hedge Fund Raid Moves Forward Against U.S.
The unusual decision on Thursday means the government must provide evidence about its work to Ganek and perhaps defend itself before a jury.
03/11/2016
Raymond James Fined for Enabling Client Privacy Violations
In several cases, customers had opted out of sharing their information or the customer resided in a state that required affirmative consent to share personal information, according to the regulator.
03/09/2016
Final Regulations Issued on Requirements for Certain Domestic Entities to Report Specified Foreign Financial Assets By David J. Moise, Jill Misener and Shira Peleg
The regulations went into effect on February 23, 2016, and apply to taxable years beginning after December 31, 2015. Failure to timely file Form 8938 may result in a penalty up to $50,000.
03/09/2016
Ex-JP Morgan adviser jailed over £14m client theft
He was ordered by US district judge Analisa Torres to forfeit $20.2m and pay redress to JP Morgan.
03/09/2016
Swiss Re Said to Be in Talks to Buy Prime Reinsurance From Citi
An agreement hasn’t been finalized and talks could still fall through
03/08/2016
Colorado Moves to Close Offshore Tax Loopholes
Fortune 500 companies now hold a record $2.4 trillion outside U.S. borders
03/07/2016
Obama to meet with financial regulators ahead of new rule
The brokerage industry largely opposes the new rule.
03/07/2016
Appleby Sponsors Global Fund Finance Symposium
Appleby also had an opportunity to contribute through its exclusive sponsorship of the official networking reception.
03/07/2016
Visium Hedge Fund Being Investigated by Justice Dept. and S.E.C.
The authorities are also looking at Visium’s trading of certain securities and the firm’s use of a consultant more than five years ago.
03/07/2016
Michigan Family Office Employee Charged Money Laundering and Fraud
His money laundering charge is connected to the purchase of land on Lake Michigan.