03/31/2013
‘Another domino’ falls in SAC insider-trading case
Michael Steinberg was arrested Friday by FBI agents at his Manhattan apartment
Legal, Regulation & Compliance
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.
03/24/2013
Zamansky & Associates files another FINRA arbitration case for UBS customer
The Statement of Claim asserts that UBS's senior management hid its true views of Lehman’s financial condition
03/24/2013
U.S. Seeks Answers in Liechtenstein on Tax Cheats
“Seeking documents from the Liechtenstein fiduciaries is an important investigative step,” which will shed light on “the roles of banks, of bankers outside of Liechtenstein,” the Justice Department wrote in the letter
03/21/2013
Brother of hedge fund founder indicted
He is accused of conspiring with his brother
03/20/2013
Swiss banks face US Libor lawsuit
The London Interbank Offered Rate (Libor) is used as a reference point for mortgages and other trades worth around $300 trillion
03/20/2013
Freddie Mac Sues Multiple Banks Over Libor Manipulation
Defendants’ fraudulent and collusive conduct caused USD LIBOR to be published at rates that were false
03/19/2013
Dodd-Frank Swap Data Fails to Catch JPMorgan Whale, O’Malia Says
“The problem is so bad that staff have indicated that they currently cannot find the London Whale in the current data files.”
03/18/2013
Supreme Court Refuses To Hear Goldman Sachs' Appeal To Financial Crisis Lawsuit
Goldman Sachs Group Inc suffered a defeat on Monday
03/18/2013
Hedge fund firm fined £9.2 million for insider trading of Dell shares
Sigma Capital Management has agreed to pay $14 million (£9.2 million) to settle charges for insider trading
03/18/2013
Paulson Seeks to Dismiss Investment Lawsuit
In a filing in New York on Monday, Paulson said it "made no misrepresentations" to ACA Financial Guaranty
03/17/2013
US hedge fund SAC pays record fine to settle insider trading allegations
SAC Capital, a hedge fund run by billionaire Steve Cohen, is to pay $600m (£397m), the biggest insider dealing fine in history
03/17/2013
Oppenheimer Holdings Accuses CIBC of Contract Breach in 2008 Deal
CIBC said in a statement that the claim is "without merit" and plans to defend itself against the suit.