12/14/2023
Santander to buy BNP Paribas' Mexico asset management business
On its website, BNP Paribas lists life cycle, debt and white-label funds for its Mexico asset management business.
Legal, Regulation & Compliance
12/06/2023
Wall Street bank bosses warn lawmakers of economic toll from tough new rules
The CEOs hope to use the hearing as an opportunity to try to convince key moderate Democratic senators that the rule, which is being led by the Federal Reserve, could stifle lending, hurting small businesses and consumers.
12/04/2023
Ex-Wells Fargo CEO sues bank for $34 million in withheld pay, stock
The scandal drew scrutiny from shareholders and government officials and led the Federal Reserve in 2018 to order Wells Fargo to keep its assets below $1.95 trillion
12/04/2023
Bank of America To Pay $12,000,000 Fine for Repeatedly Breaking the Law, Sending False Information to Regulators
The agency says Bank of America will pay $12 million for repeatedly sending false information to federal regulators.
12/04/2023
U.S. bank CEOs expected to protest regulation push before Congress
The hearing comes amid a fierce industry campaign to kill the "Basel Endgame" proposal
11/30/2023
US Regulatory Update Q3 2023
The new rules require SEC-registered private fund advisers to comply
11/22/2023
SEC Charges Laidlaw & Co. Reps With Excessive Trading, Violating Reg BI
The SEC also charged the firm with failing to adhere to policies and procedures designed to catch evidence of excessive trading in client accounts.
11/21/2023
Blackstone to close multi-strategy fund after assets drop nearly 90%
"This is a small, legacy fund of around $200 million," a Blackstone spokesperson said in an emailed statement.
11/16/2023
Manulife Investment Management to Acquire Multi-Sector Alternative Credit Manager CQS
The transaction is expected to close in early 2024 subject to customary closing conditions and regulatory approvals.
11/16/2023
Morgan Stanley CEO says his firm is ready for ‘Basel III endgame’ — the sweeping new global rules on banking
Regulators say the changes in the proposals are estimated to result in an aggregate 16% increase in common equity tier 1 capital requirements
11/10/2023
Sources: Focus Financial Firms To Consolidate
Industry sources say Focus Financial Partners' new private equity owner plans to merge the sprawling ecosystem of firms into a small number of its existing entities.
11/09/2023
Citigroup to Pay $25.9 Million for Armenian-American Discrimination
Citi stereotyped Armenians as prone to crime and fraud.
11/06/2023
Consulting firms freeze US starting salaries in bid to shore up profit
McKinsey and BCG among those holding pay at last year’s levels as growth slows
11/03/2023
Withers recognized in Best Law Firms 2024 US rankings nationally in 3 practice areas and metro ranked in 12 practice areas
A Best Law Firms ranking helps successful individuals, businesses, charities and not-for-profit organizations identify law firms that best suit their needs and whose professional excellence, knowledge, and expertise are preeminent.
11/03/2023
Sam Bankman-Fried found guilty on seven counts for multi-billion dollar FTX fraud
The verdict marks nearly one year since FTX filed for bankruptcy.
10/27/2023
Bermuda hosts US insurance regulators
The IAIS is the international standard-setting body responsible for developing and assisting in the supervision of the global insurance sector.
10/26/2023
US regulators issue new climate guidance, despite opposition
The guidance is intended for banks with $100 billion or greater in total assets.
10/24/2023
US Federal Reserve Board slaps $14.5m fine on Metropolitan Commercial Bank
The Board clarifies that the bank has taken steps to “remedy the deficiencies identified” and will be required to enhance its customer identification, customer due diligence and third-party risk assessment programmes.
10/23/2023
Canada, CARICOM launch Strategic Partnership following Summit
CARICOM leaders welcomed Canada’s new support of $64.5 million in new climate financing, and $10 million for resilient agriculture systems.
10/23/2023
International Tax Review recognizes Dentons among world's leading tax practices
The annual World Transfer Pricing directory is a part of the ITR group.