08/29/2013
Libor Rate-Probe Spotlight Shines on Higher-Ups at Citigroup, Other Banks
My actions were entirely consistent with those of others at senior levels" in Citigroup Japan
Legal, Regulation & Compliance
08/29/2013
PwC and KPMG audits fall foul of PCAOB
According to the PCAOB's report on PwC, the board found significant deficiencies in 21 of the 52 audits it inspected
08/29/2013
Bank of America may face civil charges from DOJ
The SEC is also considering filing civil charges against Merrill Lynch
08/28/2013
Executive Excess 2013, "Bailed Out, Booted, and Busted"
IPS releases 20-year review showing that nearly 40 percent of America’s top-paid CEOs are not so great at their jobs.
08/27/2013
World's top banks on track to meet tougher capital rules
The rules, known as Basel III, are the main global response to undercapitalized banks
08/27/2013
Bakers unveils record results for 2012/13 with revenue topping $2.4bn
The chairman of Bakers’ executive committee Eduardo Leite said revenue growth had been steady across all of the firm’s regions, while the positive financial results reflected both organic growth and expansion into new offices in Casablanca, Li
08/27/2013
JPMorgan’s former “London Whale” supervisor arrested in Spain
JPMorgan is battling to salvage its corporate image amid a swirl of litigation and investigations in the wake of the financial crisis
08/27/2013
J.P. Morgan faces fine of $6bn over mortgage sales - reports
A fine on that scale would be its single biggest penalty and one of the largest post-crisis settlements by any bank.
08/27/2013
Merrill Lynch to pay $205m to settle racial bias lawsuit - NYT
The preliminary settlement was confirmed to the newspaper by a spokesman for Merrill Lynch
08/27/2013
Details surface of US Justice, Swiss banks deal
Details are emerging of the deal worked out for a settlement between the US Department of Justice (DOJ) and Swiss banks.
08/26/2013
U.S. Dismisses Thousands of Claims Against Arab Bank
Jordan’s largest lender, the Arab Bank, announced this week that a New York federal court dismissed more than 90 percent of the claims in a long-running lawsuit
08/26/2013
Conyers advises Third Point Reinsurance Ltd. on US$275 million IPO
Conyers Dill & Pearman provided Bermuda legal advice to Third Point Reinsurance Ltd
08/26/2013
Dubai court dismisses Kuwaiti Sheikh's $21 million claim against UBS
The case highlighted the complexity of doing business in the Gulf
08/26/2013
Two Shreveport businesses guilty of money laundering, wire fraud, tax evasion
The defendants’ scheme revolved around the sale and financing of used and new vehicles to individuals who derived Read more: ZacharyToday.com - Two Shreveport businesses guilty of money laundering wire fraud tax evasion
08/25/2013
Private Equity Funds Potentially Liable for the Pension Obligations of their Portfolio Companies
This was a case of first impression for the First Circuit. Two conditions were present that led to liability under Title IV for the private equity fund in this case.
08/25/2013
UBS Financial Services Agrees To Pay $4.58 Million To Settle A Multi-State Investigation
UBS Financial Services, Inc. has agreed to pay $98,184.84 in civil penalties to the New Jersey Bureau of Securities
08/25/2013
U.S. top court dismisses shareholder case against UBS
The high court had been due to rule on the case in the term starting in October
08/25/2013
Billionaire Blavatnik Wins $42.5 Million JPMorgan Award
Billionaire Leonard Blavatnik won a $42.5 million breach of contract award against JPMorgan Chase & Co. over claims the bank stuffed a fund with risky mortgage securities and lost 10 percent of his $1 billion investment
08/24/2013
Three Charged With Stealing Flow Traders Trading Software
Two men who were employed by Flow Traders were charged in New York with stealing the firm’s electronic trading software
08/24/2013
SEC Proposal, CFTC Rules, BB&T, Monte Paschi: Compliance
The failure that affected Nasdaq’s system for reporting quotes and trades bolsters the case to pass a proposal issued in March