10/31/2021
DOJ Further Ratchets Up Scrutiny in Corporate Investigations
The intent behind this policy change is to create parity between the way DOJ treats individual and corporate criminal histories.
Legal, Regulation & Compliance
10/29/2021
Clear Rules on Crypto Assets Imminent, says FDIC’s McWilliams
Chair outlines various risks and opportunities for stable coins and other digital assets
10/29/2021
FINRA Bars Another Broker Who Improperly Applied for COVID Disaster Loan
Unlike Pinazo, the former J.P. Morgan rep cooperated with FINRA’s investigation.
10/29/2021
Ex-Wells Fargo Adviser Arrested in New Jersey on Client-Fraud Charges
“At Wells Fargo we hold our employees to the highest ethical standards,” the bank said in a statement.
10/29/2021
Majority of publicly traded U.S. multinational firms use tax havens
Data suggests public scrutiny may influence whether firms disclose offshore subsidiaries
10/29/2021
Five European nations, US agree transitional approach to DSTs as regards Pillar One
Pillar One of the solution would reallocate taxing rights in favor of market countries coordinated with the removal of all DSTs.
10/29/2021
10 international fraudsters charged in the US
The Defendants Operated Boiler Rooms in Multiple Countries to Defraud Victims Around the World of Millions of Dollars by Impersonating Prominent Investment Firms and Individuals
10/28/2021
Nubank file for IPO
This announcement is being issued in accordance with Rule 135 under the Securities Act of 1933, as amended ("Securities Act").
10/28/2021
FATF publishes guidance for regulation of cryptocurrency industry
The guidance provides relevant examples and potential solutions to implementation obstacles.
10/26/2021
US FSOC Report: Climate-Related Financial Risk an Emerging Threat
The Report details the information currently available with respect to banks, nonbank lenders, government-sponsored enterprises, insurance, and fund and asset managers, but notes that there is limited research and data on how climate risk translates into
10/25/2021
The Anti-Money Laundering Act of 2020
Congress also increased penalties for violating the BSA.
10/24/2021
A Few Takeaways from Two Recent NY Tax Whistleblower Decisions
Understanding the application of the NYFCA to these types of claims requires more judicial guidance—and subtle aspects of recent decisions have the potential to shed new light on the application of the NYFCA to tax claims in court.
10/22/2021
SEC Fines Syracuse Firm For Failing to File Form CRS
One securities attorney said SEC staff will likely continue identifying firms that did not file and deliver their disclosure forms on time, saying it was the “lowest-hanging fruit” of CRS-related enforcement actions.
10/22/2021
United States: Challenges expected in US implementation of OECD agreement on global tax reform
While this agreement is a key milestone in the process, there is still a great deal of technical work ahead, and implementation of the agreement—targeted for 2023—will have its own challenges, including in the US.
10/22/2021
CFTC Awards Nearly $200 Million To A Whistleblower - Largest Award To A Single Whistleblower
The whistleblower’s claim in connection with a third related action by a state regulator was denied because the whistleblower’s information was never shared with the state regulator.
10/22/2021
Jurisdictions under Increased Monitoring - October 2021
The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions, but encourages its members and all jurisdictions to take into account the information presented below in their risk analysis.
10/18/2021
Goldman Sachs Cleared to Own All of China Unit
U.S. bank has operated a Chinese joint venture for 17 years
10/17/2021
US Securities and Exchange Commission Increases Focus on Cybersecurity
These enforcement actions highlight the SEC’s attention to cybersecurity and its scrutiny of written documentation and disclosures following incidents.
10/14/2021
Latham & Watkins Advises Chilean Issuer, AME and EDF on Innovative US$980 Million Portfolio Financing
A multi-disciplinary team from the firm’s Project Development & Finance, Latin America, Tax, and Credit Derivatives practices advises on the largest non-recourse transaction in Chile to date in 2021.
10/14/2021
Founders of Crypto ICO Plead Guilty to Tax Evasion After Raising $24 Million from Investors
Instead of fulfilling their promises to these investors, the defendants used Bitqyck funds on personal expenses, including casino trips, cars, luxury home furnishings, art, and rent.