01/04/2012
U.S. charges 3 Swiss bankers in tax evasion case
U.S. prosecutors charged three Swiss bankers on Tuesday of conspiring with wealthy U.S. taxpayers to hide more than $1.2 billion in assets from tax authorities.
Legal, Regulation & Compliance
01/03/2012
Former Lloyds bosses to be sued over HBOS takeover
Sir Victor Blank and Eric Daniels, the former chairman and chief executive of Lloyds Banking Group, are to be sued in the US courts by American shareholders unhappy at the bank’s takeover of HBOS at the height of the credit crisis.
12/30/2011
RBS, DOJ To End Deferred-Prosecution Agreement Over ABN Amro
More than $3.2 billion involving shell companies and high-risk transactions with foreign financial institutions flowed through the bank’s New York branch, according to court documents filed at the time.
12/30/2011
MF Global Scrutinized on Money Move
The new details bolster claims that MF Global was careless with customer money, regardless of the company’s intentions.
12/29/2011
Whistleblower dossier handed over in bank ‘fraud’ action
A mass of documents assembled by a whistleblower at Bank of New York Mellon have offered a glimpse into how the bank responded to allegations from US authorities that it defrauded customers of hundreds of millions of dollars.
12/29/2011
Goldman Rethinks Business Model
Goldman Sachs has been forced to rethink its business model, as it has come under fire from regulators of late.
12/29/2011
New U.S. tactic for suspected Swiss bank tax cheats
U.S. authorities hunting in Swiss banks for suspected tax cheats have a new weapon in their arsenal: an arcane but aggressive legal maneuver more commonly used against drug smugglers, money launderers and Imelda Marcos, widow of the Philippine dictator.
12/28/2011
Husband faces civil suit in death of rich UBS wealth manager
Shele Danishefsky Covlin, 47, a UBS wealth manager, was found dead in her upper West Side bathtub on New Year’s Eve 2009.
12/28/2011
MF Global trustee has no conflict of interest: judge
The ruling came in response to accusations from some customers that past work done by the firm for JPMorgan Chase & Co, one of MF Global's main lenders, constituted a conflict of interest.
12/28/2011
When to Go Above The Boss's Head
His story is exemplary of the whistleblower-like firings and resignations that have graced headlines since the days of Enron.
12/28/2011
Swiss private bank fined in U.S. over short sales handling
The Bank violated a U.S. regulation known as SHO
12/27/2011
SEC Ups Its Game to Identify Rogue Firms
It is the Securities and Exchange Commission's new "most-wanted" list: a chart covered with handwritten notes, yellow highlighter and the names of about 100 hedge funds.
12/27/2011
SEC Backs Lehman Brokerage in Barclays Claim
The trustee liquidating the Lehman brokerage said he identified about a $5 billion shortfall in customer reserve accounts.
12/20/2011
‘Intensely private’ Handler lifts veil in defense of Jefferies
Now Handler is defending the company he built, aiming to retain staff amid investor concern that Europe’s debt crisis and the collapse of MF Global Holdings Ltd. will drive up financing costs or lead to losses.
12/19/2011
Don’t Tax the Rich. Tax Inequality Itself.
Over the last three decades, income inequality has again soared to the sort of levels that alarmed Brandeis.
12/15/2011
Family offices seek shield from SEC disclosure
There are about 3,000 single-family offices in North America managing $1.2 trillion, according to estimates from Family Wealth Alliance LLC, a research and consulting firm in Wheaton, Illinois, which studies the industry.
12/15/2011
Henry Swieca said to return client money from hedge fund
Swieca made the decision because of new financial regulations that require firms to register with the U.S. Securities and Exchange Commission by March 2012
12/12/2011
Regulatory changes for hedge funds set to continue in 2012
Under the Dodd-Frank Act, the private adviser exemptions in the Investment Advisers Act of 1940 will be replaced with 'venture capital fund adviser', 'foreign adviser' and 'private fund adviser' exemptions, says law firm Kaye
12/09/2011
Dutch fund sues major US bank over securities
The mortgage loans backing the securities were worth much less than had been represented and were taken out by borrowers "who were much less creditworthy than had been represented," the lawsuit said.
12/08/2011
US court grants Lehman approval to exit bankruptcy in 2012
Many former Lehman executives have disappeared from the spotlight, while several have landed jobs elsewhere on Wall Street: