12/30/2014
Itaú, Corpbanca deal passes another regulatory hurdle
The deal has also received regulatory approval in Brazil
Legal, Regulation & Compliance
12/30/2014
SEC Accuses Fund Managers of Diverting $4.4 Million
Three Fund Managers Allegedly Used Client Money to Prop Up Side Business
12/30/2014
SEC Provides Guidance on Key Employee Trusts Under Family Office Rule
The SEC Division of Investment Management recently provided guidance on whether certain key employee trusts would qualify as family clients under the rule.
12/29/2014
Israel's Bank Leumi gave the U.S. data on former customers
Leumi also agreed to pay $400 million to settle two separate investigations into whether it helped its American clients evade U.S. taxes.
12/29/2014
Credit Suisse Bank Faces $10 Billion Lawsuit Over Pre-2007 Mortgage Fraud
The legal wrangling isn’t entirely over
12/29/2014
US Court Directs Bank Creditors To File Claims
A US court has directed the "reorganised Arcapita Bank BSC" to initiate transfer of claims by eligible holders.
12/29/2014
Wirehouse Advisors Gripe About, Increasingly Satisfied with Compliance
Despite constant and vocal grumbling, national brokerage and wirehouse advisors have steadily increased their satisfaction ratings of firms’ compliance programs.
12/29/2014
Microsoft Ex-CEO & Other Executives Sued by IRS over Taxes
Software developer Microsoft Corporation’s executives, both former and current, including former chief executive officer Steve Ballmer have been sued by The Internal Revenue Service over the company's past tax practices.
12/29/2014
Pershing to pay $3 mln for customer protection violations
The "customer protection rule" at issue in FINRA's action is a mandate of the U.S. Securities and Exchange Commission.
12/29/2014
MIT Academic, Harvard Educated Money Manager Guilty of Fraud
Hedge fund insiders are known to consider questionable performance results that delivers profits across all market environments and fail to experience negative drawdowns or downside volatility.
12/25/2014
SEC Rater Report, MF Global Restitution, BofA Exec: Compliance
Debt raters failed to follow their own methodologies, let senior credit officers view market-share data and allowed a trade group to affect criteria changes
12/24/2014
$40 Million Goes To Hedge Fund In Credit Suisse Case
With the appraisal, Highland Capital used the property as collateral against a $540 million loan.
12/24/2014
Rbc Agrees $35m Fine Over Scheme Involving Bahamas
The consent order reveals that between June 1, 2007,and May 31, 2010, RBC entities executed 1,026 such transactions
12/24/2014
Federal regulators seeking to remove American Bank CEO
The proposed enforcement action comes as the bank's parent company, American Bank Holdings Inc., works toward an announced merger
12/24/2014
The Vatican Bank, Christmas Cheer, And FATCA
For Centuries the Inner Workings of the Vatican Bank have been Cloaked in Secrecy
12/23/2014
Madoff Victims to Get $322 Million in Trustee Payout
Picard has raised much of the cash with lawsuits against former Madoff customers
12/23/2014
US firm in $35m settlement over false 'alpha' claim
The SEC accused F-Squared of falsely advertising a successful seven-year track record for AlphaSector.
12/23/2014
F-Squared Settles with SEC over False Performance Claims
F-Squared Investments Inc, one of the largest marketers of investment products using exchange-traded funds, has agreed to pay $35 million to settle U.S. regulatory charges that it defrauded investors through false performance advertising.
12/23/2014
SEC Charges Corporate Attorney and Wife With Insider Trading on Client’s Confidential Information
The SEC’s investigation, which is continuing, is being conducted by Lance Jasper and Spencer Bendell in the Los Angeles Regional Office.
12/23/2014
SEC Charges Corporate Attorney and Wife With Insider Trading on Client’s Confidential Information
The Securities and Exchange Commission today charged a California-based attorney and his wife with insider trading on confidential information obtained from a corporate client.