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.
Legal, Regulation & Compliance
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.
12/03/2015
Morgan Stanley to Recruit Credit Suisse''s Latin America Brokers -- 2nd Update
The transition is expected to be completed in the first half of next year.
12/02/2015
SEC sanctions Grant Thornton and two partners for multiple audit failures
Both companies eventually faced SEC enforcement actions for improper accounting and other violations.
12/02/2015
SEC Revives Failure To Supervise Case Against Billionaire Steven A. Cohen
The ongoing nature of the case indicates the SEC believes it can succeed in showing Cohen bred a culture that fostered and even rewarded insider trading.
12/01/2015
Banking Priorities Change in Response to Digital Challenges
This shift in emphasis manifests itself in the fact that updated technology is banking’s biggest priority this year up from number 4 last year and that, for the third consecutive year