04/09/2013
Dubai’s Mashreq sues ING over $43m investment loss
In its claim Mashreq said these revisions were “nothing more than trickery”
Legal, Regulation & Compliance
04/08/2013
CFTC Said to Subpoena ICAP Brokers, Dealers on Swap Prices
The CFTC plans to interview about a dozen current and former brokers at ICAP’s Jersey City
04/07/2013
BofA lawsuit settlement of US$2.43bn approved
BofA Merrill Lynch said in September last year that it rejected the allegations and was agreeing to the settlement to end the uncertainties, burden and costs associated with the lawsuit.
04/07/2013
Ex-Credit Suisse exec pleads not guilty in NYC
He is accused of distorting the value of mortgage securities in 2007.
04/04/2013
Court Revives Ex-Wife's Suit Against Billionaire
She sued her billionaire ex, his companies and his brother in December 2009, claiming they used fraud to hide millions from her during the divorce and made a lot of his money from inside trading.
04/04/2013
Millionaires Got $80 Million in Jobless Aid in Recession
“So many people are taking advantage of government support that they probably feel like, why shouldn’t they take advantage of it, too?” said George Walper Jr., president of the Spectrem Group
04/03/2013
Deutsche Bank faces new sex discrimination case
The bank used the mass layoff as a reason to get rid of female employees it considered "problematic," according to the lawsuit.
04/03/2013
Paulson Fund Investor Case Dismissed for Lack of Standing
Hugh Culverhouse in a February 2012 complaint sought class- action status on behalf of all investors who lost money in the fund.
04/03/2013
A Wall Street trader hoping to boost his £1m annual bank bonus admits to making a series of fraudulent trades
The CFTC accused Taylor of fabricating trades to conceal a huge, unauthorised position in e-mini Standard & Poor's futures contracts, which bet on the direction of the S&P 500 index.
04/02/2013
Credit Suisse Says New York’s Fraud Suit Filed Too Late
The lender was accused of “multiple fraudulent and deceptive acts” in promoting and selling mortgage securities.
03/31/2013
US 'facing more bank bail-outs’
The rule was included in the Dodd-Frank financial reform legislation three years ago
03/31/2013
‘Another domino’ falls in SAC insider-trading case
Michael Steinberg was arrested Friday by FBI agents at his Manhattan apartment
03/27/2013
U.S. asks Liechtenstein for data in tax evasion probe
Liechtenstein, with similar secrecy laws to larger neighbor Switzerland, has long prospered by offering secretive foundations and trusts through firms known as fiduciaries.
03/27/2013
Ingenious launches US business to build on Fatca opportunity
Chief executive Guy Bowles said: ‘We have put all the systems in place with BNY Mellon and Pershing, Jersey, to custody clients.’
03/27/2013
Wine seller, billionaire spar in court over vintage fakes
The case is expected to shine a light on the astronomical prices paid by wealthy collectors at auction for wine.
03/27/2013
Buffett's Berkshire pays $610m to settle Swiss Re dispute
Swiss Re said at the time that the claim was without merit
03/26/2013
Butterfield FulcrumoOffers one-stop FATCA Compliance Solution to Hedge Funds
It is estimated that the law will impact over 300,000 financial institutions
03/25/2013
SEC charges hedge fund manager and brokerage CEO with fraud
They inflated valuations of the funds’ assets, causing the value of investors’ shares to be overstated and his management and incentive fees to be increased.
03/25/2013
SEC Brings Fraud Charges in John Thomas Capital Case
Also lied to investors about the identity of the funds' auditor and prime broker
03/25/2013
IRS Apologizes for $60,000 'Star Trek' Tax-Evasion Training Video
There was demand that the IRS release the “Star Trek” video to the public, to show how money was being wasted.