02/20/2013
Author Awarded $51 Million From Money Manager
She claims the firm cost her $15 million for missing a deadline.
Legal, Regulation & Compliance
02/19/2013
Withers to launch international family consulting group
Withers is to launch a consultancy group following client demand for a service that will help family-run businesses resolve arguments.
02/19/2013
FINRA Fines Five ING Firms $1.2 Million for Email Retention and Review Violations
FINRA found that the firms failed to properly configure hundreds of employee email accounts
02/17/2013
Ex-HSBC Client Gets Year in Prison for Tax Evasion
Chon also was fined $15,000 and ordered to pay restitution of $412,404 to the U.S. Internal Revenue Service
02/17/2013
G20 ‘determined’ to address tax evasion by multinational companies
“We are determined to develop measures to address base erosion and profit shifting.”
02/17/2013
Leumi and Tefahot implicated in Los Angeles tax evasion case
According to an indictment against a former Israeli businessman, the alleged tax evasion took place between 2003 and 2010, and involved the opening of a bank account in Israel.
02/17/2013
Some HNW and family offices reassured that they will not pay for insider trading probe legal fees
The amount of the investor redemption notices exceeds the US$1 billion figure
02/14/2013
Switzerland, U.S. sign pact on fighting offshore tax evasion
The law requires foreign financial institutions to tell the U.S. Internal Revenue Service about Americans' offshore accounts worth more than $50,000.
02/14/2013
SEC to Move on Fiduciary Standard in Next Two Months
"Opinions at the commission vary a great deal on the costs that it would impose
02/14/2013
Ex-Stanford Chief Accountant Lopez Sentenced to 20 Years
The fraud was built on bogus certificates of deposit at Antigua-based Stanford International Bank Ltd
02/13/2013
Statement from the SBA regarding the signing of the FATCA agreement
The SBA welcomes the signing of an agreement between Switzerland and the US for the facilitated implementation of FATCA.
02/13/2013
Credit Agricole wins end to Intesa lawsuit on toxic CDO
Intesa had "no chance of success whatsoever" to recover its entire $180 million investment
02/11/2013
UBS And Merrill Lynch Win $2.5 Million DotCom Customer Case
Claimant Kaiser sought $2,850,000 in compensatory damages
02/10/2013
Ex-Jefferies Trader Litvak’s Trial Set to Begin April 1
Litvak, 38, of New York, was arrested Jan. 28
02/10/2013
Troubled Bahraini bank Arcapita files reorganisation plan
Arcapita's case is being closely watched in the Gulf, where companies have little recourse to orderly ways of dealing with insolvency.
02/09/2013
Zamansky & Associates Announces Its Investigation of the UBS Willow Fund's Wind Down
The Willow Fund was a hedge fund which offered and sold more than $225 million in private placement interests
02/07/2013
Advisor Gets Over 12 Years For $16M Fraud
The SEC and federal prosecutors racked up another win on Tuesday after an Illinois federal judge threw the book at a shady financial advisor who pilfered $16 million in mutual fund shares from clients.
02/07/2013
SunTrust Sues to Stop Hedge Fund's $13 MLN FINRA Arbitration
The latest one brought by a bank to challenge claims by investors that their disputes can be heard and decided by FINRA arbitration panel.
02/07/2013
JPMorgan Chase Hid Mortgage Flaws From Investors, Emails Suggest
That review found that 20 to 80 percent of the mortgages did not meet underwriting standards, Bloomberg reports.
02/07/2013
UBS wins end to 'travesty' of lawsuit over tax evasion
Thursday's decision arose from a July 2011 lawsuit by three customers who had held Swiss bank accounts at UBS, and joined an Internal Revenue Service amnesty program that required them to pay back taxes on balances plus 20 percent penalties.