09/12/2012
Standard Chartered 'close to US settlement over money laundering claims'
The Treasury Department has approved an initial settlement that will also involve Manhattan's top prosecutor and the Department of Justice, the New York Times said.
Legal, Regulation & Compliance
09/12/2012
Swiss fume at U.S. "hypocrisy" over whistleblower's payout
Many Swiss are fuming after a whistleblower, who helped prosecute Swiss bank UBS for helping rich Americans avoid taxes, was paid a record $104 million by U.S. authorities after being jailed for his own part in the affair.
09/11/2012
UBS whistleblower awarded $104m
US tax authorities have awarded $104m (£65m) to Bradley Birkenfeld, the whistleblower in a major tax evasion case against UBS, the Swiss bank.
09/09/2012
US files suit against UBS Securities
US regulators have filed a lawsuit against Swiss banking giant UBS, accusing it of misrepresenting the risk associated with mortgage-backed securities it sold to two federal credit unions.
09/09/2012
U.S. Bars Ex-Credit Suisse Banker From Leaving
“Permitting the defendant to travel to his country of origin or residence would be an invitation to flee”
09/06/2012
Bank of America Heist: Calif. bank manager kidnapped, strapped to bomb and used in robbery, police say
The bank manager told authorities she was held against her will since Tuesday night.
09/06/2012
JPMorgan Said to Face Escalating Senate Probe of CIO Loss
The unit’s London staff lost at least $5.8 billion this year on the botched wagers, which were large enough to shift markets.
09/06/2012
General Solicitations Permitted in Private Placement Offerings - SEC Proposes New Rules
The Proposed Rules, which are not yet final, would have the effect of increasing the flexibility for issuers, including hedge and other alternative investment funds, to solicit purchasers through general solicitation, but would also impose a more signific
09/06/2012
SEC, CFTC charge manager who boasted success amid Madoff loss
"Reality seems to have finally caught up with him."
09/05/2012
Herbert Smith takes on 15 further Chadbourne lawyers for US launch
The firm is still looking to recruit further fee earners for the anti-corruption and cross-border investigations piece of the practice, with a view to completing this by the end of the year.
09/05/2012
Blow to RBS shareholders as US judge dismisses case
Royal Bank of Scotland shareholders who are threatening a £3.3bn lawsuit against the lender and its former directors have been dealt a blow after a US court dismissed similar allegations that the bank misled investors.
09/05/2012
SocGen cooperating with U.S. in Libor probe
Oudea said he had not heard from French prosecutors about the case and declined to comment on developments in Switzerland, where authorities are also probing banks.
09/04/2012
Libor probe claims Barclays executive and a trader
At least four former Barclays traders who worked under Pal in New York have drawn scrutiny from U.S. prosecutors and regulators in the investigation into the manipulation of the London interbank offered rate and related benchmark interest rates, according
09/04/2012
Foreign banks in Iran face risk of US penalties
The drama played out last month between Standard Chartered and the New York state supervisor who threatened to strip the august British institution of its vital Wall Street banking licence was not entirely typical.
09/04/2012
SEC Charges California Man for Illegal Tips to Hedge Fund Manager
The Securities and Exchange Commission today charged a California man with illegally tipping a hedge fund manager with inside information about Nvidia Corporation's quarterly earnings that he learned from his friend who worked at the company.
09/03/2012
US Gift Tax - Overview
After December 31, 2012, unless Congress enacts new legislation, this opportunity will vanish and will be replaced by a $1 million exemption and a 55 percent federal transfer tax rate.
09/03/2012
Tax agreements key to the future - confidence despite a difficult environment - SBA
Although the current situation for banks is characterised by falling margins, a large number of regulatory projects and constant pressure from abroad, Switzerland can continue to be a leading financial centre.
09/03/2012
Ex-Dewey partner claims Citibank conspired to lure laterals
A former Dewey & LeBoeuf partner has filed a lawsuit claiming Citibank colluded with the now-defunct US firm to entice lateral hires in the run-up to the firm’s high-profile collapse this year.
09/02/2012
Ex-UBS executives found guilty of fraud
While employed at UBS, the three men participated in separate fraud conspiracies and schemes with various financial institutions between 2001 and 2006, the United States Department of Justice said.
09/02/2012
Mitt Romney buy-out firm said to be probed by New York attorney general
The agency claims to investigate “firms that rip-off government pension funds, contractors that over-bill taxpayers, and large-scale tax cheats”.