08/25/2015
Two Swiss Banks Reach Resolutions under Justice Department's Swiss Bank Program
Two more Swiss banks have reached resolutions with the Justice Department under its Swiss Bank Program.
Legal, Regulation & Compliance
08/21/2015
CFPB, NY Securities Regulator Sue Companies Over Pension Advance Scheme
According to the complaint filed in California federal court, from 2011 through December 2014 the companies conned customers
08/21/2015
IRS Data Breach Much Larger Than Initially Reported
Tax agency reveals now roughly 600,000 accounts thought to be affected.
08/21/2015
Ex-JPMorgan banker to plead guilty in embezzlement case-hearing
The lawyers asked Torres to schedule another hearing on Sept. 30
08/21/2015
Barclays must face U.S. class action over Libor
Class actions make it easier for plaintiffs to recover larger sums at lower costs than if they sue individually.
08/21/2015
Ex-Wilmington Trust president makes first court appearance
As a condition of his release, Harra was ordered to post a $25,000 unsecured bond and surrender his passport
08/19/2015
A big bank got fined $15 million for giving internships to the 'less than exemplary' kids of Middle Eastern officials
An SEC investigation found that BNY Mellon did not evaluate or hire the family members through its existing, highly competitive internship programs that have stringent hiring standards and require a minimum grade point average and multiple interviews.
08/19/2015
SEC fines RIA $2.8 million and bars owner in 'Madoff of Main Street' case
Holds owner of Total Wealth Management, Jacob Cooper, liable in case where losses are expected to total as much as $44 million
08/19/2015
LLCs, Private Jets Don’t Always Fly Smoothly
But that’s where it gets tricky. Wealthy folks typically run afoul of the FAA’s rules because they are unaware of the rules between the two forms of licenses.
08/18/2015
FinCEN: Precious Metals Dealers Using the Blockchain Need Licensing
FinCEN has ruled that businesses using Bitcoin’s blockchain to transfer precious metals are considered money transmitters.
08/18/2015
Former forex traders challenge Citi over dismissal
The authorities found that Citi and other banks attempted over a period of almost six years to have rigged key foreign exchange benchmarks, including at least one provided by central banks.
08/18/2015
The $100 Million Feud: Kramer vs. Perella Weinberg
Kramer is widely regarded as one of Wall Street's top bankers in the business of corporate restructurings and bankruptcies
08/18/2015
Citigroup Affiliates to Pay $180 Million to Settle Hedge Fund Fraud Charges
CGMI and CAI failed to control the misrepresentations made to investors as their employees misleadingly minimized the significant risk of loss
08/18/2015
N.J. hedge fund manager cleared of Carter's insider trading charges
It came as prosecutors are facing increasing challenges in their ability to pursue insider trading cases
08/14/2015
Here's What's Next for DoL Fiduciary Rule
The wide range of participants at the hearings was further testament to the breadth of its potential impact
08/14/2015
Edward Jones Pays $20 Million to Settle Muni Price Fraud Charges
The regulator claims, because of the pricing-related fraud, Edward Jones customers paid at least $4.6 million more than they should have when purchasing new bonds
08/14/2015
Scott+Scott Announces Five Additional Settlements Totaling More Than $2 Billion in FX Litigation
As the complaint details, the conspiracy affected dozens of currency pairs
08/14/2015
Nine banks agree to pay $2bn to settle forex rigging suit in the US
Banks accused of foreign exchange rate rigging have agreed to pay major sums of money in settlements to investors
08/13/2015
SEC Charges ITG With Operating Secret Trading Desk and Misusing Dark Pool Subscriber Trading Information
ITG agreed to admit wrongdoing and pay disgorgement of $2,081,034
08/13/2015
SEC Charges 32 Defendants in Scheme to Trade on Hacked News Releases
Hackers, Traders Allegedly Reaped More Than $100 Million of Illegal Profits