10/11/2021
Rates Unchanged, But Gradual Liquidity Withdrawal
Global central banks across the world have indicated taper over the last month.
Legal, Regulation & Compliance
10/08/2021
Nasdaq makes it more difficult for companies based in “restrictive markets” to list
Companies that are public in the United States are required to file audited financial statements with the SEC.
10/08/2021
Aspen connections unearthed in offshore money investigations
Part-time resident, Pitkin County properties pop up in probe looking at ways to hide wealth in shell companies
10/08/2021
Merrill to Pay $850K FINRA Fine Over Short Sale Violations
From September 2013 until July 2016, Merrill violated Rule 204 of Regulation SHO and FINRA Rule 2010
10/07/2021
BofA Gives $200 to Merrill Lynch Wealth Management staff who are vaccinated
While the new policy stops short of a mandate, it provides a financial incentive to get the shots and return to the workplace.
10/07/2021
FATF - Consolidated assessment ratings
FATF and FSRBs conduct peer reviews on an ongoing basis to assess how effectively their respective members' AML/CFT measures work in practice
10/04/2021
When Latin America’s elite wanted to hide their wealth, they turned to this Panama firm
Alcogal set up offshore companies for 160 politicians and public officials, leaked records show – including some accused of looting their countries.
09/30/2021
PIABA: 30% of 2020 FINRA Arbitration Awards Went Unpaid
New Report Finds Increased Rates of Unpaid Arbitration Awards and Unpaid Award Money Compared To 2019; 24% of All Awarded Money Last Year Was Never Paid.
09/30/2021
European banks need regulation reset to catch U.S. rivals: EBF
Banking capital buffers in Europe have been much tougher than in the United States
09/30/2021
SEC enforcement action highlights scrutiny of "alternative data" and trading firms that use it
App Annie provides a free performance analytics product for mobile applications.
09/30/2021
Marketing Strategy And Marketing Tactics For Lawyers
A marketing strategy is a researched, thought-out and well-planned document that details everything from historical data and business values to goals and metrics by which to measure success.
09/29/2021
U.S. Attorney Announces Unsealing Of Indictment Charging Six Individuals And One Corporate Entity With Tax Fraud Conspiracy, And Related Guilty Plea
Indictment Alleges that Defendants Conspired to Help U.S. Clients Evade Taxes on More Than $60 Million Hidden Offshore
09/28/2021
Citi fined $1 million for swap data reporting violations
The order also charges Citi for violating the cease and desist provision of a 2017 CFTC order relating to reporting and supervisory failures.
09/28/2021
US: Regulatory order serves as a message to all about cybersecurity and governance
The Order requires the bank to develop an Action Plan to achieve compliance with the regulations.
09/28/2021
FINRA Targets Firms' Social Media Activity
FINRA will look at how firms acquire customers through social media, particularly through outside influencers with large online followings.
09/26/2021
FinCEN advance notice of proposed rulemaking regarding the antiquities trade
Congress’ move to make the BSA applicable to the antiquities trade stemmed from the concern that the trade may be exploited by money launderers and terrorist financiers to evade detection by law enforcement.
09/26/2021
The Fight to Control the $2 Trillion Crypto Market Is Heating Up
Investors are being rattled by volatility as the two biggest economies — the U.S. and China — seek to tighten their grip on Bitcoin and other digital currencies.
09/26/2021
U.S. climate change disclosure – What should companies be thinking about?
Sample letter to companies focuses on compliance with SEC’s 2010 climate change disclosure guidance
09/24/2021
OFAC Sanctions Cryptocurrency Exchange to Combat Ransomware Payments, Releases New Ransomware Guidance
OFAC simultaneously announced that it was imposing sanctions on Suex OTC, S.R.O. (“SUEX”), a Russia-based cryptocurrency exchange registered in the Czech Republic, for its role in facilitating payments connected with ransomware extortion.
09/23/2021
OFAC Issues Updated Ransomware Advisory Emphasizing Reporting to and Cooperation with US Law Enforcement
As we’ve previously discussed, last fall OFAC issued an advisory on the potential sanctions risks for facilitating ransomware payments.