Deutsche Bank cannot be held liable for the death of a U.S. soldier killed in Iraq by a bomb supplied by Iran, the Seventh Circuit ruled Wednesday, saying the bank's violations of U.S. sanctions on Iran were too far removed from the soldier’s death to create liability under anti-terrorism law.
Two banking executives acted as moles at a community bank in Wyoming, feeding information and customers to a rival institution to secure ownership stakes and executive positions, the Federal Reserve Board claimed in a disciplinary notice Thursday.
The U.S. Department of the Treasury proposed regulations Thursday to eliminate or defer withholding taxes on certain payments out of America to foreign banks that have fallen short on their requirements under the Foreign Account Tax Compliance Act.
Two Senate Democrats called for a bipartisan investigation into Deutsche Bank AG's compliance with federal anti-money laundering laws and its correspondent banking operations in a letter to their colleagues in the Senate Banking Committee on Thursday, citing German authorities' recent raid on the bank and its "history of regulatory problems."
CF Finance Acquisition Corp. began trading on the Nasdaq on Thursday after pricing a $250 million initial public offering guided by Ellenoff Grossman & Schole LLP, as the blank-check company sets its sights on an acquisition in the financial services or real estate services industries.
A Jordanian businessman will get a second chance to hold the directors of a Lebanese bank accountable for losses he suffered when it allegedly financed Hezbollah terror attacks and human rights violations after a New York federal judge gave him leave to amend his complaint on Thursday.
From district courts to the highest court, judges decided major issues in 2018 affecting the U.S. Securities and Exchange Commission’s enforcement process, the protections afforded to whistleblowers and the ability of investors and corporate defendants to pursue and defend themselves against securities claims.
Steptoe & Johnson LLP has added a securities, cryptocurrency and blockchain pro from Barnes & Thornburg LLP as a partner in its Chicago office, the firm has announced.
Finance of America Mortgage will pay $14.5 million to resolve a whistleblower lawsuit alleging that a predecessor company originated and underwrote deficient loans backed by federal insurance in violation of the False Claims Act, the U.S. Department of Justice announced Wednesday.
Two top executives of the now-shuttered AriseBank have agreed to pay a combined $2.7 million to settle claims by the U.S. Securities and Exchange Commission that the cryptobank fraudulently raised money in an unregistered initial coin offering, the regulator told a Texas federal court on Tuesday.
UBS Securities asked a New York federal judge Tuesday to reject a “jaw-dropping” and “excessive” $3.2 million in attorneys' fees requested by a former analyst who won a $1 million verdict in his whistleblower trial under representation by Herbst Law PLLC and Broach & Stulberg LLP.
JPMorgan Chase accused two workers of reneging on a deal to drop a long-running California federal suit alleging it violates the state’s suitable seating law Tuesday, calling the purported about-face “vexatious, wanton and oppressive” and urging a judge to enforce the settlement.
Nigeria's state-owned oil company urged a New York federal court on Tuesday to toss a bid filed by units of ExxonMobil Corp. and Royal Dutch Shell PLC to confirm a $2.67 billion arbitral award they won following a dispute over a deepwater drilling deal, arguing that the award was set aside in Nigeria and is unenforceable.
Morrison & Foerster LLP has lured another attorney away from the U.S. Treasury Department’s Office of Foreign Assets Control, bolstering its national security practice in Washington, D.C., with his experience helping formulate sanctions policy, according to a Tuesday announcement.
A London jury failed to reach a verdict Wednesday in the trial of a former UBS AG compliance officer and her day-trader friend accused of making £1.4 million ($1.76 million) by trading on inside information on potential takeover deals, in a case the British financial watchdog quickly said it planned to retry.
Prime Minister Theresa May survived a coup attempt by rebel lawmakers within her Conservative Party late Wednesday, winning a no-confidence vote by a sufficiently large margin to allow her to continue pushing to get a draft Brexit withdrawal agreement through a hostile Parliament.
Federal prosecutors in Delaware recommended prison terms between five and eight years for four convicted Wilmington Trust Corp. executives at the center of a more than $200 million years-long cover-up of bad commercial loans, saying the deception led to huge investor losses and tarnishing of trust in financial industry safeguards.
Banks would have to share credit card data with European tax authorities under a draft law proposed by the European Commission on Wednesday, in a bid to cut value-added tax fraud using bogus online stores by €1.2 billion ($1.4 billion).
The Consumer Financial Protection Bureau wants to overhaul its policy on no-action letters and create a regulatory sandbox to attract more companies seeking to test out new consumer offerings, but consumer advocates and their allies warned Tuesday that the proposed changes go too far.
More than a year after taking the matter up in a bench trial, a Manhattan judge has found in favor of Barclays PLC in a decade-old suit brought by a unit of hedge fund Black Diamond Capital Management LLC over whether the bank defaulted on a derivatives contract in the height of the 2008 financial crisis.
He was White House counsel to two presidents. When Reagan was shot, he explained the chain of command to a four-star general. And until a few years ago, many people still thought he was Deep Throat during the Watergate scandal. Fred Fielding of Morgan Lewis & Bockius may be the quintessential Washington insider. White and Williams attorney Randy Maniloff visits him to learn more.
By interacting with a cryptocurrency institution for tax payments, Ohio is exposing its operations to a potential cyberattack. In addition, the noxious mix of federal and state regulatory requirements creates a foggy compliance labyrinth, even for a U.S. state, says John Reed Stark of John Reed Stark Consulting LLC.
In the current commercial real estate market, mortgage lenders' cautious approach should continue to provide mezzanine lenders with ample opportunities. By maintaining an important role in transactions, mezzanine lenders can gain more leverage when negotiating intercreditor agreements, say attorneys at Schulte Roth & Zabel LLP.
Last month, the IRS updated its voluntary disclosure practices. For taxpayers without criminal exposure, the updated protocol can provide the optimal route for an offshore disclosure, but more palatable options likely exist for the significant majority of noncompliant taxpayers, says Patrick McCormick of Drucker & Scaccetti.
Many law firms have tickets or luxury suites at sporting events to host clients and prospects. Matthew Prinn of RFP Advisory Group and Matt Ansis of TicketManager discuss some of the ways that firms can use those tickets effectively.
Last month, cryptocurrency hit yet another milestone when Ohio began accepting bitcoin payments for taxes. However, Ohio’s treasury, or any other state or federal government entity, should be the very last institutions to even consider accepting this dubious form of payment, says John Reed Stark of John Reed Stark Consulting LLC.
A recent opinion from the American Bar Association provides useful guidance on attorneys’ obligations to guard against cyberattacks, protect electronic client information and respond if an attack occurs, says Joshua Bevitz of Newmeyer & Dillion LLP.
The Federal Reserve Board recently issued two proposals that represent a significant change in the prudential regulation of large banking organizations. Attorneys with Debevoise & Plimpton LLP examine the notable aspects of the new framework.
The U.S. Securities and Exchange Commission's regulatory agenda for the coming year — announced last week — is not excessively long, which means Chairman Jay Clayton takes it seriously and intends to act on it, says Richard Marshall of Katten Muchin Rosenman LLP.
In 2018, the U.S. government strengthened sanctions targeting Iran, Russia and Venezuela, sanctioned an agency of the Chinese government and completed the second largest sanctions-related enforcement action on record. And the evidence suggests 2019 will be equally tumultuous, say attorneys with Ropes & Gray LLP.