08/26/2019
Court refuses to dismiss lawsuit over Puerto Rico pension law
Since then, former Gov. Ricardo Rossello, who signed the law, has been replaced by former justice secretary Wanda Vazquez.
Legal, Regulation & Compliance
08/25/2019
US names Nigerians in massive fraud investigation
The US authorities have charged 80 people, "most of whom are Nigerian nationals", with participating in a conspiracy to steal millions of dollars, prosecutors say.
08/23/2019
Wells Fargo pays $6.5 million to Navajo Nation over 'predatory' practices
Wells Fargo said in a statement that the agreement demonstrates the bank’s “commitment to make things right regarding past sales practices issues.”
08/23/2019
TD Partners with The Shed to Expand Opportunities in the Arts Across New York City
As the lead sponsor of The Shed's "Open Call," TD will underwrite programs focused on providing access, visibility and resources for New York-based emerging artists
08/23/2019
Wells Fargo pays $6.5 million to Navajo Nation over 'predatory' practices
The settlement “puts other companies on notice that harmful business practices against the Navajo people will not be tolerated,” Navajo Nation President Jonathan Nez said in the statement, which referred to Wells Fargo’s “long camp
08/22/2019
“Weeding out the competition” – an update on M&A activity in the cannabis sector
The Government of Canada announced that the production and sale of edible cannabis, cannabis extracts and cannabis topicals will be legal in Canada, as of October 17th, 2019.
08/22/2019
SEC Charges Broker-Dealer and CEO With Supervision Failures Related to Hedge Fund Valuation Scheme
Without admitting or denying the SEC’s findings, AOC and Gonzalez agreed to pay penalties of $250,000 and $40,000, respectively.
08/22/2019
SEC Charges ICO Research and Rating Provider With Failing to Disclose It Was Paid to Tout Digital Assets
The SEC's order finds that ICO Rating violated the anti-touting provisions of Section 17(b) of the Securities Act of 1933.
08/21/2019
JPMorgan metals trader pleads guilty to spoofing, resigns from bank
While the Justice Department did not identify the banks by name in court papers, Trunz had worked for JPMorgan since at least 2008, according to the Financial Industry Regulatory Authority’s BrokerCheck database.
08/21/2019
DC Circuit Court Requires Subpoenaed Chinese Banks to Produce Documents in Money Laundering Case
On July 30, 2019, the US Court of Appeals for the DC Circuit unanimously upheld a district court order requiring three unnamed Chinese banks to produce financial records subpoenaed by US federal prosecutors. Although the US government does not currently s
08/21/2019
U.S. regulators hand Wall Street a major win with stripped-down 'Volcker Rule'
Following the financial crisis, banks took important steps to recapitalize their balance sheets, restore liquidity, and improve their risk management in responsible ways.
08/21/2019
SEC proposes amendments to disclosure requirements under Regulation S-K
The proposal will be subject to a 60-day public comment period after its publication in the Federal Register.
08/20/2019
Hedge fund sues widow of portfolio manager who died by suicide
Visium is seeking more than $100m in repayment for money it says it paid Sanjay Valvani
08/19/2019
13 attorneys earn recognition for family law, appellate, arbitration, mediation
The 2020 Best Lawyers accolades are the latest honors for the attorneys of the boutique Family Law firm.
08/19/2019
Delaware Courts revive Unaffected Trading Price as indicator of Fair Value
The case concerned the acquisition of Jarden Corporation (the Company) by Newell Rubbermaid Inc at a price of $59.21 per share (consisting of cash and Newell stock).
08/19/2019
Charles Schwab reverses out of Australia again
Charles Schwab's 2017 re-entry to Australia came on the back of it acquiring broker-dealer optionsXpress
08/19/2019
World’s information commissioners demand answers from Facebook about Libra currency plans
They also raise specific concerns about the interaction of Libra and Facebook’s already enormous store of information.
08/19/2019
Prospects dim on clear sailing for SECURE Act
Supporters still hopeful despite holdup in Senate
08/16/2019
Trustees of Revocable Trusts May Owe Duties to Contingent Beneficiaries
Conversely, a trustee of a foreign revocable trust owes enforceable obligations to the objects (beneficiaries) of the trust forthwith regardless of the settlor’s capacity.
08/16/2019
Trial Date Set for US Panama Papers Case
U.S. prosecutors filed charges against four men in late 2018 – two former Mossack Fonseca employees, a Boston-based accountant, and a former U.S. taxpayer.