04/23/2020
Kentucky Teachers’ Fund Suspends Requirement for Notary Signatures
A patchwork of states allows remote witnesses, since in-person regulations have been made inconvenient by social distancing measures.
Legal, Regulation & Compliance
04/23/2020
State Pension 2020: All the changes coming into force next month explained
State Pensions are set to increase by 3.9 per cent - the biggest boost since 2012
04/22/2020
Large Korean bank to pay $35 mln fine for violating anti-money laundering law -NY state
Linda Lacewell, superintendent of New York’s Department of Financial Services, said the settlement resolved charges that IBK violated New York’s Bank Secrecy Act and anti-money laundering laws.
04/22/2020
Facebook Seals Biggest Deal Since WhatsApp With India’s Ambani
Separately, Facebook said the deal would bring together JioMart, an ecommerce venture of Mukesh Ambani and its WhatsApp platform to enable people to connect with businesses.
04/22/2020
No Gain, Lots of Pain
The stock market downturn portends big losses for government pension funds—and billions in new obligations for taxpayers.
04/22/2020
CS sued for price rigging worth billions in corporate bonds, report says
The banks are accused of inflating spreads between the prices where they bought and sold odd-lot bonds
04/21/2020
Fed policy lays the foundation for gold
With COVID-19 infections and their associated lockdowns ravaging demand across sectors of the US economy
04/21/2020
Morningstar to Acquire Sustainalytics
The transaction consideration includes a cash payment at closing of approximately EUR 55 million
04/20/2020
Linda Coberly Recognized on Crain’s 2020 List of The 50 Most Powerful Women in Chicago
She is a director and immediate past chair of the Board of Directors for Heartland Alliance
04/20/2020
How Goldman Sachs’ Compliance Team Saved the Bank From Bribery Charges
The commission’s statement said, “The firm’s compliance personnel took appropriate steps to prevent the firm from participating in the transaction and it is not being charged.”
04/19/2020
Protecting Business Information During the COVID-19 Pandemic
When employees report to a workplace, the employer has a high level of control over the employees’ access to and use of company information.
04/17/2020
How Banks Can Detect Money Mules in the Time of COVID-19
Most money-mule operations rely on establishing informal ties to the global financial sector.
04/17/2020
SBA Paycheck Protection Program Uses and Forgiveness
Interest payments on any other debt obligations that were incurred before 2/15/2020 (not included in calculation of forgiveness amount)
04/17/2020
How Merrill Lynch Is Preparing for SEC’s Regulation Best Interest
It’s a step up from the current standard, which requires broker-dealers to recommend investments that are merely “suitable” for clients
04/15/2020
SEC outlook and governance trends for 2020
After a flat budget for fiscal years 2016 through 2018, funding was increased in 2019 to $1.68 billion.
04/15/2020
US returns $300 million in stolen funds to Malaysia
Low and his family agreed to forfeit more than $700 million in assets and to date
04/15/2020
Athene Fined $45 Million for Unlicensed Pension Risk Transfers
New York regulator said the firm illegally entered into 14 risk transfer deals.
04/14/2020
Christie’s was ordered to pay up to $16.7 million for violating New York tax laws.
The tax lapses were not limited to New York locations. Between July 2013 and January 2017, Christie’s overseas sales offices delivered $189 million worth of goods to New York buyers.
04/14/2020
Blackstone and Alnylam Enter Into $2 Billion Strategic Financing Collaboration to Accelerate the Advancement of RNAi Therapeutics
Blackstone Provides a Customized Investment at Scale to Enable Alnylam to Achieve Self-sustainable Financial Profile Without Need for Future Equity Financing
04/14/2020
Chubb Announces Grants as Part of its $10 Million Commitment to Pandemic Relief Efforts Globally
$1.7 million to International Medical Corps to strengthen hospital capacity