08/26/2012
Merrill brokers’ pay deal goes to US judge for approval
The judge said she will rule later on preliminary approval.
Legal, Regulation & Compliance
08/26/2012
Complaint filed with Israeli Banking Regulation against Bank HaPoalim
The conduct of the US government and Bank HaPoalim in this case is particularly unreasonable, given that the bank in question is located in Jerusalem - Corpus Separatum by international law.
08/26/2012
Kuwaiti investment firm targets Carlyle in $25m claim
"NIG argues that the investment contract is void because Carlyle, despite doing business for years in the Middle East, has never had a securities licence in Kuwait," the firm said.
08/26/2012
US investigates UniCredit over sanctions
Unicredit has confirmed it is co-operating with a US investigation into a possible breach of sanctions.
08/23/2012
Husband Sues Advest, Credit Suisse, And Two Stockbrokers Over Wife's Unauthorized Withdrawals
Respondents requested the expungement of the matter from Respondents Bilski’s and Clish’s Central Registration Depository records (“CRD”).
08/23/2012
Top CFPB Rulemaker Decamps for Law Firm
Chanin won't start until September, a media representative of Morrison & Foerster said.
08/22/2012
Law Firms Bank On Higher Demand While Bulking Up Talent
Two recent studies suggest hiring at major law firms is outpacing demand for legal services, but experts say most firms are wisely stocking up on talent in anticipation of demand picking up down the road.
08/22/2012
Merrill Lynch Puts Ex-Advisers' Deferred Pay Suit To Rest
Merrill Lynch & Co. Inc. has reached a deal to end a putative class action accusing it of breaching contracts by denying deferred compensation to thousands of financial advisers who quit after it was acquired by Bank of America Corp., according to a g
08/22/2012
Statement of SEC Chairman Mary L. Schapiro on Money Market Fund Reform
The proposed structural reforms were intended to reduce their susceptibility to runs, protect retail investors and lessen the need for future taxpayer bailouts.
08/22/2012
Baer Makes ‘Generous Assumption’ for U.S. Tax Matter, FuW Says
Julius Baer seems to have widespread shareholder support for acquiring Bank of America Corp.’s non-U.S. Merrill Lynch units, the Zurich-based newspaper reported, citing an interview with Enkelmann, who added that a “good portion” of the
08/22/2012
Commerzbank admits Iran sanctions investigation
Commerzbank has become the latest bank to admit it faces being fined as part of a US investigation into sanctions busting by international financial institutions.
08/21/2012
RBS under investigation by US authorities
The bank also said that it had initiated discussions with UK and US authorities to discuss its historical compliance with the relevant regulations and laws, “including US economic sanctions”
08/20/2012
Assange urges end to U.S. 'war on whistle-blowers'
Julian Assange speaks to the public from a window of the Ecuadorian embassy in London today, where he urged that the U.S. "renounce its witch-hunt against WikiLeaks," the whistle-blowing organization he founded.
08/20/2012
Ex-Credit Suisse Client, 83, Admits Hiding $5.7 Million
An 83-year-old Massachusetts man who held Swiss bank accounts at Credit Suisse Group AG (CSGN) and Wegelin & Co.
08/20/2012
Whitman Capital Founder Found Guilty Of Insider Trading
Whitman Capital LLC hedge fund founder Doug Whitman was convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent.
08/20/2012
JOBS Act: SEC delays rules on hedge fund soliciting
The JOBS Act was signed into law by President Barack Obama on April 5, 2012, and contains the lifting of the advertising ban for small businesses among other things.
08/16/2012
4 arraigned in big bucks, precious metals bullion Ponzi-scheme
When the alleged Ponzi-scheme collapsed, Global Bullion Trading Group, Capital Assessment Management, and Certified, Inc., all filed for bankruptcy.
08/16/2012
Hedge-Fund Manager Cites Insider Suspicions
His request was captured on a phone call secretly recorded by Ms. Khan at the direction of the FBI.
08/16/2012
Morgan Stanley Unit Fined Over Trader’s $1.3 Billion Bet
The brokerage didn’t have enough controls in place to detect that Jared Weinryt, 31, had breached his $116 million trading limit as he made overnight bets on futures, Finra said this month.
08/16/2012
Hall of Fame Football Coach Accused in Ponzi Scheme
The Securities and Exchange Commission has announced fraud charges against a former college football coach who teamed with an Ohio man to conduct an $80 million Ponzi scheme that included other college coaches and former players among its victims.