11/07/2019
Merrill Lynch and Raymond James Must Pay $12 Million to Harmed 529 Plan Customers
RJA has agreed to pay more than $3.8 million in restitution, while RJFS has agreed to pay $4.2 million.
Legal, Regulation & Compliance
11/07/2019
US Treasury scales back Obama rules on offshore tax deals
The Treasury Department said the regulations, implemented in the final months of Obama's administration, are no longer necessary because of the 2017 tax law enacted under president Donald Trump.
11/05/2019
Ex-UBS FA With 201 Disclosures Forced to Appear in Finra Arbitration
In late October, the federal court in Puerto Rico ruled in favor of Carisalagen’s urgent request and ordered Lugo, whom the investment firm said has acted as its FA, to appear at a Finra hearing scheduled for this week.
11/04/2019
Manhattan condo cited in Nigeria corruption case listed for $7.1M
Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News
11/04/2019
Goldman Sachs 401(k) participant sues over alleged fiduciary lapses
The lawsuit accused the company of "failing to monitor and evaluate performance the performance of the plan's fiduciaries or have a system in place for doing so."
10/31/2019
Andersen Global Expands in Central America
The firm provides comprehensive legal advice in areas such as banking and finance, civil law, commercial law, corporate law, immigration, labor and employment, mergers and acquisitions, arbitration, litigation, maritime and tax.
10/30/2019
J. Safra Sarasin private bank under investigation in Brazil corruption case
The prosecutors have alleged that flaws within the Swiss private bank's compliance
10/30/2019
UBS Star Ex-Broker Wins $1.5 Million Gender Discrimination Award
At UBS, Carona was a member of the President’s Council, an elite club for top producers at the company, where she had managed more than $300 million.
10/30/2019
Banking companies are utilizing their Washington clout to stomp on the tech business
Bank lobbyists are seeking to leverage all those issues.
10/29/2019
American Kleptocrats Finally Feel the Heat
The House did something really big last week, and the Senate could actually follow suit soon.
10/29/2019
PRI asks signatories to join in effort to prod U.S. to act on responsible investment
The letter cites "a string of regulatory rollbacks under the Trump administration in recent years that have undermined policies on good governance, transparency and ESG integration in the investment process."
10/29/2019
JPMorgan Goes After FA Who Left for Raymond James
JPMorgan wants the court to prevent Weiss from soliciting more clients while it handles the matter through Finra arbitration, according to the publication.
10/29/2019
Capitala Group partners with Mitsui U.S. subsidiary
Capitala Group plans to expands investor base and expects the Mitsui partnership to attract Asian investors, Mr. Alala said.
10/29/2019
Sierra Club sues SEC over denial of climate-related shareholder resolutions
In effect, the SEC has quietly allowed companies to kill such proposals before they can even be presented for a shareholder vote," the lawsuit claims.
10/28/2019
SEC looking to open private markets to a wider audience
Major asset managers building up their own private market offerings are hoping the brainstorming leads to change.
10/28/2019
Crypto Capital Official Nabbed in Money Laundering Probe
A Crypto Capital principal, Oz Yosef, also known as Oz Joseph, has been indicted by a grand jury in New York on charges of conspiracy to commit bank fraud, bank fraud and conspiracy to operate an unlicensed money transmitting business, according to a fili
10/28/2019
Brazil and the UAE sign deal to deepen trade ties
According to the Dubai Chamber of Commerce and Industry, bilateral UAE-Brazil trade last year was $2.7 billion. Fernando Luis Lemos Igreja, Brazil’s ambassador to the UAE, told the Emirates News Agency WAM this weekend that it will be higher this ye
10/28/2019
Fed Should Continue to Deliver
Sterling seems to be discounting that surely there has to be some political resolution.
10/28/2019
SEC’s Investment Management Division posts FAQ clarifying compensation-related disclosure obligations of investment advisers
The adviser should disclose conflicts that result in it or any of its affiliates, supervised persons, or associated persons receiving compensation, directly or indirectly, in connection with the securities it recommends.
10/28/2019
Four Steps to Successful CAT Onboarding and Certification
Tips to help your firm get certified and ready for production in April 2020