The Fifth Circuit was the first federal court of appeals to examine the extent to which the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 protects internal whistleblowers, or those who report violations of the securities laws to their supervisors rather than directly to the SEC, from retaliation
Earlier this year, PwC was heavily fined by New York’s Department of Financial Services for “improperly altering” its sanctions and anti-money-laundering report for Bank of Tokyo Mitsubishi. This recent “whitewashing” case has reopened the ethical question concerning the way in which independent consultancy firms ...
As more and more bank scandals are surfacing in the financial capitals of London and New York, Singapore seeks to implement tougher rules and strengthen existing standards as regulators move to safeguard and reinforce the reputation of Singapore’s fast-growing financial service sector.
There are a number of bills that have been introduced in the US Congress that, if enacted, could impact Cayman Island domiciled captives and/or their shareholders or affiliated group
American regulators have recently been scrutinizing financial institutions’ internship programs for potential violations of the Foreign Corrupt Practices Act.1 The United States Securities and Exchange Commission recently announced its first internship-related FCPA settlement with Bank of New York Mellon Corp.
Most investors and traders can spend their entire lives without stepping foot on the floor of a major stock exchange, but it’s hard to imagine functional markets without them. A stock exchange is a hub where buying and selling of stocks takes place...
In February 2012 FATF published its revised International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation where Recommendation 1 and its Interpretative Notes referred to the need for countries to conduct and produce an assessment of the risks, to update that assessment and to make it available.
The court-appointed lawyers defending R Allen Stanford in January 2012 in a federal trial in Houston chose to take, somewhat naively, the legal tack of blaming others for what prosecutors charge Stanford himself orchestrated.
Much has been written, including the 300-page US Senate Subcommittee report itself, on the AML issues at HSBC. This writing includes front page news articles in major news publications, which gets management’s attention.
Some, maybe. But they weren’t part of the real Cayman family anyway. And they won’t be homeless: Either another FATCA partner jurisdiction will adopt them or, as a last resort, Uncle Sam will.