10/10/2014
US hedge fund banned from Hong Kong trading
A New York-based hedge fund and its founder has been banned from trading securities in Hong Kong for four years after admitting to insider trading of Chinese banking equities.
Legal, Regulation & Compliance
10/09/2014
Barclays to pay $20 million to settle U.S. class action over Libor manipulation
The proposed deal, disclosed in court papers filed in New York federal court, is the first such settlement of private litigation in the United States against various banks accused of manipulating the London Interbank Offered Rate.
10/09/2014
Wealth management seminar leader pleads guilty in fraud scheme
Ephren Taylor, II, has pleaded guilty to conspiracy to commit mail and wire fraud by defrauding hundreds of victims of their retirement savings.
10/08/2014
Hedge Fund Association Cautions SEC on Impact of Raising Accredited Investor Net Worth Requirements
On behalf of the private investment funds industry and other growing businesses the HFA offers the SEC alternative solutions to avoid stifling job creation and capital formation
10/08/2014
Ex-UBS Exec Says Swiss Reports Belong In Tax Evasion Trial
A former UBS AG wealth management and banking head charged with helping U.S. taxpayers conceal their assets wants two public reports from Swiss banking authorities to be included in his trial.
10/08/2014
U.S. Prosecutor Masterminded $37 Billion Bank Penalty Win
Outgoing Attorney General Eric Holder and his former No. 3 Tony West have dominated the limelight following multibillion dollar settlements against JPMorgan Chase & Co.
10/08/2014
Wall Street Moles Go to New York’s Top Cop, Spurning SEC Cash
The SEC receives thousands of whistle-blower tips every year
10/08/2014
Elite private banking duo to fight back
The elite private banking duo may take legal action accusing the firm of wrongful termination for their firing last month, their attorney says
10/07/2014
Hedge Fund and its Partner and Lawyer Fail on Motion to Dismiss for Breach of Fiduciary Duty
A case against a hedge fund, and one of its partners and in-house counsel, related to actions at a portfolio company and alleging breach of fiduciary duties survived a motion to dismiss.
10/07/2014
Big Banks Face Another Round of U.S. Charges
The Justice Department is preparing a fresh round of attacks on the world’s biggest banks, again questioning Wall Street’s role in a broad array of financial markets.
10/06/2014
For helping Feds, Hialeah Ponzi schemer gets his 10-year sentence cut in half
Veteran prosecutor Richard Gregorie recommended Perez's reduction after noting that he “has been cooperating with federal law enforcement officers since prior to his first indictment in June of 2010” on securities fraud, according to a co
10/06/2014
Corporate misconduct must no longer be tolerated
Integrity has to be put back at the heart of businesses.
10/06/2014
‘Black Diamond’ Ponzi Scheme Leads To Jail For 3 Hedge Fund Managers
Three hedge fund managers have been arrested in connection with a $40 million investment fraud conspiracy
10/02/2014
Fox Rothschild enters Texas by acquiring Dallas firm
Texas is a hub for real estate, litigation, energy and corporate work
10/02/2014
SEC waives Citigroup hedge fund restrictions
Citigroup Inc. has had restrictions lifted by the Securities and Exchange Commission that will allow the bank to sell investments in hedge funds and private equity funds to its wealthy clients, among other activities.
10/02/2014
FBI arrest 2 men for fraud and looting hedge funds
Buckhannon, who was arrested by FBI agents in Henderson Tuesday, pleaded not guilty at an arraignment Wednesday before U.S. Magistrate Judge George Foley. He was released on a personal recognizance bond pending trial.
10/02/2014
Hedge Fund Madam Gets Two Years For Drug-Dealing
Davis, who had faced up to five years in prison but who hoped to avoid it, said she began dealing drugs after a four-month stint in prison
10/01/2014
SEC Charges Bank of America With Securities Laws Violations in Connection With Regulatory Capital Overstatements
The Securities and Exchange Commission today charged Bank of America Corporation with violating internal controls and recordkeeping provisions of the federal securities laws after it assumed a large portfolio of structured notes and other financial instru
10/01/2014
Poker-Playing Hedge Fund Manager Sued Over Premature Bet
If a U.S. regulator has its way, Daniel Shak will soon have more time to focus on gambling at poker tables and none at all to spend betting on derivatives.
10/01/2014
Ofac chief seeks to comfort banks on ‘front lines’ of sanctions
The head of a US Treasury office that has handed down a series of large fines against banks for violating economic sanctions, pledged that he is not “looking for a scalp or to raise up a victory flag”.