12/16/2014
Do panic moves by central banks ever work?
A surprise interest rate hike by the Russian central bank late Monday night left analysts debating whether such "panicked" moves by officials have any genuine impact.
Legal, Regulation & Compliance
12/15/2014
Boris Johnson risks US fine or jail over failure to pay American capital gains tax on London property
Boris Johnson risks a hefty fine or even a spell in jail if he fails to pay American capital gains tax on a London property he sold in 2009
12/15/2014
New York Lawyer Charged in $5 Million Fraud Outlined in Suicide Note
The U.S. Securities and Exchange Commission also sued Bennett, saying he lured 30 investors with promises of 6 to 25 percent returns and misleading claims that a New York State governor and his then-wife were also investors.
12/15/2014
Citigroup dealt second fine for prospectus lapses
Finra said the firm failed to deliver documents after ETFs were purchased by clients
12/15/2014
Law Firms’ Profit Projected to Grow by 5% in 2015
The U.S. law firm industry is expected to see another year of profit growth in 2015, driven by an uptick in transactional work amid sagging demand for traditional litigation, according to a new report on the legal industry.
12/14/2014
MF Global's investment banks to settle suit for $74 million
The proposed settlement calls for the seven investment banks, which underwrote investment offerings, to pay the plaintiffs $74 million, according to court papers filed in a New York court on Thursday.
12/12/2014
Litigator William "Widge" Devaney Joins Baker & McKenzie
He also brings our clients the ability to effectively defend all manner of white-collar criminal enforcement, SEC enforcement actions and enforcement proceedings brought by OFAC for alleged foreign trade violations."
12/12/2014
Commerzbank US settlement set to top $1bn
Commerzbank is in talks to pay US authorities more than $1bn in fines to resolve allegations that the German bank broke anti-money laundering and sanctions laws — at least $400m more than previously thought.
12/12/2014
Global specialist law firm elects 11 new partners to the Firm
11 lawyers have been newly elected as partners effective January 1, 2015.
12/12/2014
Enhancing Risk Monitoring and Regulatory Safeguards for the Asset Management Industry
The New York Times DealBook Opportunities for Tomorrow Conference Held at One World Trade Center, New York, N.Y.
12/12/2014
Sterne Agee Takes Ex-CEO to Court over Luxury Spending
The lawsuit comes after the wealth-management firm was told James Holbrook faced federal investigations
12/12/2014
SEC chief not pleased over insider trading decision
Securities and Exchange Commission chief Mary Jo White is none too pleased about Wednesday’s landmark federal appeals court ruling that overturned two insider trading convictions.
12/12/2014
New York Department of Financial Services Cyber Security Examination
The NYDFS issuance is just the most recent example of the increasing focus among state and federal regulatory agencies and government officials regarding cyber security and its importance to the financial services industry.
12/11/2014
SEC charges advisory firm with fraud for $12mn risky hedge fund investment to retirees
Hedge Fund’s Portfolio Manager Agrees to Settle Charges
12/11/2014
Taxing New Rules Make Hiding Cash Harder
More paperwork as governments force wealthy to declare overseas assets.
12/11/2014
JPMorgan Chase Says It Hopes to Meet New Capital Rules With No Major Changes
Banks can raise capital either by selling new stock to shareholders or retaining profits.
12/11/2014
New York banking regulator probing Barclays, Deutsche Bank's FX algorithm
The New York banking regulator is investigating if Deutsche Bank and Barclays Plc used algorithms on their trading platforms to manipulate foreign exchange rates,
12/11/2014
Withers Regulatory Watch News - December 2014
Welcome to the December issue of Withers' Regulatory Watch.
12/11/2014
FINRA Fines 10 Firms a Total of $43.5 Million for Allowing Equity Research Analysts to Solicit Investment Banking Business and for Offering Favorable Research Coverage
FINRA's research analyst conflict of interest rules make clear that firms may not use research analysts or the promise of offering favorable research to win investment banking business
12/10/2014
Feds Seek $190M From Deutsche Bank For Alleged Tax Dodge
Federal prosecutors on Monday sued Deutsche Bank AG, seeking $190 million from the German bank for allegedly engaging in a tax evasion scheme by setting up shell companies to hide profits on the appreciation of stock that the bank purchased in 1999.