03/02/2012
Goldman Sachs Executive in U.S. Insider Probe
Loeb is the second Goldman Sachs employee said to be under federal scrutiny.
Legal, Regulation & Compliance
03/02/2012
Proskauer Expands Private Investment Funds Capabilities
was the founder and leader of the Private Fund Disputes team and was formerly the Practice Group Leader of the Commercial Litigation and Financial Services and Securities Litigation Practice Groups at Nixon Peabody.
03/02/2012
Handler Thayer Wins 2012 PAM Award for Best Overall Law Firm
Private Asset Management Awards, organized by Private Asset Management Magazine, recognize and reward those firms and institutions that have successfully served UHNW individuals in an increasingly complex economic environment and have proved true ability
03/01/2012
Swiss lawmakers back U.S. tax plan; further vote Monday
The proposal, which clarifies how Switzerland would hand over data on Americans suspected of dodging taxes at home, seeks to backstop an expected deal over U.S. probes into 11 banks including Credit Suisse and Julius Baer, likely to comprise a data handov
03/01/2012
US targets Dubai bank over Iran curbs
The US Treasury Department has disrupted a Dubai-based banking operation that the United States believes was Iran's main conduit for evading international sanctions and processing oil sales, the Wall Street Journal reported.
02/29/2012
HSBC provides info on clients having accounts in India to US Close
In April last year, HSBC Bank USA received summons from the US Internal Revenue Service (IRS) asking the entity to produce records with respect to US-based clients of an HSBC group company in India, the banking giant has said.
02/27/2012
Volcker rule should exclude all sovereign debt - Citigroup
Manuel Medina-Mora warned that the so-called Volcker rule, which forms part of the 2010 Dodd-Frank financial oversight law and bans banks from using their own funds to make risky trades, could prevent lenders from serving their clients.
02/26/2012
Four Hedge Fund Managers Indicted in $40 Million Ponzi Scheme
Joining U.S. Attorney Tompkins in making today’s announcement are Chris Briese, Special Agent in Charge of the Federal Bureau of Investigation (FBI), Charlotte Division, and Jeannine A. Hammett, Special Agent in Charge of the Internal Revenue Servic
02/26/2012
Regulators Scrutinize Ties With Exchanges
Aspects of the probe, which is in its early stages, came to light in a regulatory filing Friday from BATS Global Markets Inc., a computer-driven U.S. exchange that is planning an initial public offering.
02/26/2012
Black brokers at Merrill Lynch get go-ahead for class action
The decision by the 7th U.S. Circuit Court of Appeals in Chicago came eight months after the U.S. Supreme Court, in a case involving Wal-Mart Stores Inc, made it significantly harder to pursue class-action cases.
02/24/2012
Chicago-based law firm opens in Shanghai
The firm’s attorneys in Shanghai are bilingual and have the background and expertise to handle multicultural and multijurisdictional legal issues in the United States, Europe and China. Katten
02/23/2012
Citi, UBS provide keys to interest rate-rigging probe: sources
The two banks, linked by a trader who worked at both, have provided closely guarded details to U.S., UK, Japanese and Canadian regulators about how their traders and those at other banks allegedly sought to influence the yen-denominated London interbank o
02/23/2012
Prominent Miami investor and philanthropist sues NY hedge fund
John Paulson took responsibility for the failure of his research in an investors' conference call on July 21, 2011, according to a Reuters news story, Gurland noted, and said at the time that he needed to strengthen his Asian research arm.
02/23/2012
Citi, UBS provide keys to widening interest rate-rigging probe
Citigroup and UBS, in a series of disclosures to law-enforcement officials, have provided crucial information to investigators in multiple countries as part of inquiries into whether the world's biggest banks manipulated a global benchmark interest r
02/22/2012
Gibson Dunn posts impressive 2011 financial results
Head count at Gibson Dunn stayed effectively static last year, with growth just a marginal 10 lawyers last year, while the number of equity partners dropped by three.
02/22/2012
Court finds Pentagon Capital Management and Lewis Chester liable for securities fraud
Specifically, Judge Sweet found that Defendants PCM and Chester orchestrated a scheme to defraud mutual funds in the United States through late trading from February 2001 through September 2003.
02/20/2012
Hedge fund analyst arrested for insider trading
Unfortunately for Kinnucan, the Feds had already tapped his phone and captured his conversations with Donald Longueuil, a former SAC portfolio manager, and Level Global Investors LP co-founder Anthony Chiasson.
02/17/2012
Madoff Trustee May Struggle to Undo HSBC Ruling, Lawyers Say
Madoff trustee Irving Picard filed arguments in a federal appeals court in New York on why district judges Jed Rakoff and Colleen McMahon were wrong in barring him from demanding damages from the banks, which include UBS AG and UniCredit SpA.
02/17/2012
Law firms face 'uncertain' prospects in 2012: report
The forecast was released Wednesday in the annual client advisory by the Hildebrandt Institute, a division of Thomson Reuters, and the Law Firm Group at Citi Private Bank.
02/17/2012
Goldman Sachs Analyst Inquiry Said to Show New Focus in U.S. Insider Probe
The investigation of Henry King, the Goldman Sachs analyst covering Taiwan, shows federal authorities are expanding the insider-trading probe by U.S. Attorney Preet Bharara in Manhattan and the FBI in New York, said the person, who didn’t want to be