10/17/2019
Highland Capital Management files for Chapter 11 bankruptcy: court filing
In April, Highland had said it did not have enough cash on hand if it was asked to pay the investors eventually.
Legal, Regulation & Compliance
10/17/2019
Austin Investment Adviser Revoked for Fraud
In April, Highland had said it did not have enough cash on hand if it was asked to pay the investors eventually.
10/16/2019
Woodbridge CEO Gets 25-Year Sentence for Fraud
Robert Shapiro led a $1.2 billion Ponzi scheme over six years that hurt some 8,400 investors.
10/16/2019
U.S. pension funds took positions in blacklisted Chinese surveillance company
The blacklist applies to Hikvision and seven other companies because they allegedly enabled the crackdown that has led to mass arbitrary detentions in the Xinjiang region.
10/16/2019
JPMorgan felt barred from calming repo market by regulations
The bank, Dimon told analysts following JPMorgan's third-quarter earnings release, needed to keep that money put so it could fulfill its liquidity requirements mandated by regulators.
10/16/2019
Stifel Forms Strategic Partnership With Israel’s Ourcrowd
“Through this partnership, our clients will gain access to attractive, early-stage investment opportunities that have been typically restricted to traditional VC firms and family offices.”
10/16/2019
JPMorgan felt barred from calming repo market by regulations
This couldn't be more different than year-end 2018.
10/15/2019
Miami financial advisor pleads guilty to laundering millions in PetroEcuador bribery case
Chatburn, who pleaded guilty Friday to a money-laundering-conspiracy charge, paid millions of dollars as kickbacks to PetroEcuador officials in exchange for contracts with the state oil company between 2013 and 2018, according to federal prosecutors in Mi
10/15/2019
A Swiss Bank Keeps Cropping Up in Venezuelan Corruption Cases
Graft is almost commonplace in Venezuela
10/15/2019
Phishing the Famous
Man Who Targeted Celebrities Sentenced; Simple Precautions Can Keep Your Information Safe
10/13/2019
SEC Halts Alleged $1.7 Billion Unregistered Digital Token Offering
The complaint alleges that defendants failed to register their offers and sales of Grams, which are securities, in violation of the registration provisions of the Securities Act of 1933.
10/11/2019
Morgan Stanley and Merrill Lynch Snagged in Uber IPO Lawsuit
Even if the courts eventually reject or rule against the plaintiffs’ proposed class actions, its filing underscores the trepidation with which many financial advisors have begun to view IPOs.
10/10/2019
New guidance on material climate change disclosure for reporting issuers
Securities law in Canada requires reporting issuers to disclose material risks affecting their business and, where applicable, the financial impacts of such risks.
10/10/2019
Merrill Lynch Broker Barred for Actions Related to Personal Bank Accounts
Finra has barred a Merrill Lynch broker for actions stemming from conduct related to his personal bank accounts.
10/09/2019
US considering restricting government pension fund investments in China
The Commerce Department on Monday put eight Chinese tech companies on its entity list, which bars U.S. firms from selling technology to the Chinese companies without government approval.
10/09/2019
Final hardship withdrawal regulations issued – where do we stand
Questions regarding these new rules were finally resolved when the Internal Revenue Service (IRS) issued final hardship withdrawal regulations on September 23, finalizing proposed regulations issued in November.
10/09/2019
SEC subpoenas Argo in compensation probe
The re/insurer pointed to enhancements to its governance and compensation programs announced in August, which include declassification of its board and a reduction of the size of the board.
10/08/2019
'Accidental Americans' sue France over FATCA disclosure rules
As a result, the advocacy group says French nationals with dual American citizenship face de facto discrimination, even though "most of these people have no links with the United States."
10/08/2019
OFAC's Case Against British Arab Commercial Bank and Offshore Use of the US Dollar
This is a complex and novel case, but one worthy of careful analysis by non-US banks engaged in potentially higher risk transactions in USD that rely on a determination that the arrangements are outside of OFAC’s jurisdiction.
10/08/2019
Don't Turn a Tax Debt Into a Prison Sentence
In addition to evading the payment of these taxes, Dr. Russell failed to timely pay the taxes due for the years 2013 through 2015."