Federal prosecutors supported the efforts of a former KPMG partner seeking a leaner sentence after pleading guilty to an illicit auditing scheme, telling a New York federal court Tuesday that he should receive less prison time than the 27- to 33-month guidelines.
Former Deutsche Bank futures traders James Vorley and Cedric Chanu exploited "basic rules of supply and demand" to manipulate the precious metals market in a yearslong spoofing conspiracy that constituted criminal wire fraud, federal prosecutors told a Chicago jury Tuesday.
The Trump administration announced Tuesday that it would halt tariffs on Canadian aluminum products one month after reimposing the 10% levy, citing a predicted plateau in imports.
A New York federal court has declined to grant a quick win to Vedder Price PC in a dispute with an investment bank client over $800,000 in allegedly unpaid fees, saying that the firm failed to account for the bank's counterclaims for fraud in their arguments.
A group of Chinese investors who claim they were defrauded of investments they made in a now-shuttered Miami Beach hotel with the hopes of securing immigration visas said they remain undeterred despite a Florida federal judge's recommendation Monday for the dismissal of their claims against PNC Bank and developers.
The U.S. Commodity Futures Trading Commission on Friday filed suit in Texas federal court against a cadre of alleged fraudsters, accusing them of illegally garnering nearly $100,000 from would-be investors in a purported multi-level marketing scheme invoking cryptocurrency.
A disbarred attorney and a fugitive are facing charges of money laundering and commodities and wire fraud for allegedly pocketing more than $5 million from Bitcoin investors who never got the cryptocurrency they paid for.
The U.S. Treasury Department's Financial Crimes Enforcement Network on Monday announced a rule establishing anti-money laundering program requirements for banks that don't fall under the purview of other financial regulators.
In this installment of Coronavirus Q&A, the head of Davis Polk's corporate department discusses how the pandemic has impacted legal work in the capital markets sector and explains how he has adjusted his practice in response to COVID-19.
British investor Henley Finance Ltd. has launched a suit alleging a CBD supplier made false statements to secure a nearly $1 million loan that it's refusing to repay after California firm Goyette & Associates Inc. transferred the funds from an escrow account without the proper authorization.
International law firm Norton Rose Fulbright said Monday that Bryan Pointon, a leading corporate mergers and acquisitions and private equity partner, will join the Sydney, Australia, office Oct. 1.
Colleges and universities have scrambled to determine how best to use their student housing space in a situation that is still in flux as institutions cautiously monitor COVID-19 infection rates, and lawyers say the pandemic continues to have a profound and wide-ranging impact on the student housing sector. Here, Law360 looks at three ways the COVID-19 pandemic is continuing to shape the student housing sector.
A New York federal judge on Friday ordered a default judgment in the amount of $15 million against an alleged repeat fraudster accused of perpetrating a $34 million penny stock scheme by making illegal trades on artificially inflated stock belonging to the microcap company Biozoom Inc.
The Office of the Comptroller of the Currency's draft "true lender" rule governing bank financing partnerships is likely to face challenges from states and consumer advocates if it advances as written, and it may also throw a wrench into financing arrangements used by car dealerships and mortgage lenders, according to experts and public feedback on the plan.
The Second Circuit has tossed a woman's request that it rehear her Telephone Consumer Protection Act lawsuit against Bank of America, a case Charter Communications said could clarify the definition of automatic telephone dialing systems ahead of its own TCPA battle before Connecticut federal court.
A trial against two former Deutsche Bank traders that begins Monday in Chicago will for the third time test federal prosecutors' theory that high-frequency traders and others were victimized by an unlawful market spoofing scheme, breaking a tie set in two previous spoofing trials.
President Donald Trump tried to salvage his so-far unsuccessful bid to block a grand jury subpoena by the Manhattan district attorney's office for his tax returns and financial records Friday, telling the Second Circuit that the request was too broad.
After taking a hiatus to form a boutique consulting and investment firm, a former Saul Ewing Arnstein & Lehr LLP partner has returned to its transactions and corporate practice group, where he will continue to advise athletes and performers on their business ventures.
SoftBank Group Corp. has appointed an in-house attorney and former Paul Hastings LLP and Milbank LLP lawyer to fill the role of group compliance officer following the unannounced departure of his predecessor earlier this month.
In this week's Taxation With Representation, marketing firm Advantage Solutions goes public in a $5.2 billion merger, Baring Private Equity Asia buys IT business Virtusa for $2 billion, and Israel's Arko Holdings inks a $1.4 billion merger.
The Fifth Circuit won't revive a Texas man's suit accusing Equifax and Experian of violating the Fair Credit Reporting Act by refusing to restore favorable information to his credit report, which allegedly led to a low credit score that cost him a credit card and a mortgage.
Citigroup, Goldman Sachs, Wells Fargo and a slew of other megabanks asked a New York federal judge to dismiss an antitrust suit, saying it alleges two "impossibly broad conspiracies" to hit retail investors with inflated prices and lower returns for corporate bonds.
A federal judge declined Friday to free a businessman jailed on charges of lying to get $20 million in loans for companies hit by COVID-19, after a prosecutor said that the Metropolitan Correctional Center in Manhattan, where the man is being held, plans to reopen for attorney visits.
A former KPMG partner who pled guilty to using secret information from a financial watchdog told a New York federal judge Thursday that sentencing him to prison rather than home confinement would be "cruel," arguing that his expected deportation to his home country of Australia is punishment enough.
Fifth Third Bancorp shareholders filed a derivative suit in Illinois federal court Thursday, the latest of several suits alleging that for years, officers and directors of subsidiary Fifth Third Bank covered up that employees were opening new customer accounts without authorization to meet aggressive sales goals.
Following the Delaware bankruptcy court’s recent ruling that IntegraMed's management service agreements cannot be sold in Chapter 7 liquidation, private equity investors and other lenders should reexamine collateral packages securing similar credit facilities, and monitor the decision’s potential to impact credit availability, valuations and restructuring strategy, say attorneys at Alston & Bird.
James Murphy and Daniel Payne at Murphy & McGonigle outline the types of commercial mortgage-backed securities lawsuits that may comprise a pandemic-induced litigation uptick, and offer recommendations on how commercial real estate market participants can prepare for the increased risk.
Attorneys are routinely immunized from malpractice actions when they represent plaintiffs pursuing claims that are not collectable, but an Illinois federal court's recent refusal to protect defense counsel in Newman v. Crane Heyman highlights inconsistency in collectability requirements, says Timothy Parilla at Palmersheim & Mathew.
Now that state-licensed lenders are allowed to conduct loan activities from home due to the pandemic, they need to optimize their remote working environments in a secure manner by leveraging third-party solutions and prioritizing cybersecurity compliance reviews, say attorneys at Buckley.
Hiring more women, people of color and members of the LGBTQ community to BigLaw positions of power is the first key to making other underrepresented attorneys believe they have an opportunity for a path to leadership, says Ernest Greer, co-president at Greenberg Traurig.
BigLaw firms often focus on increasing their diversity numbers, but without much attention to equity and inclusion, minority lawyers face substantial barriers after they get their foot in the door, says Patricia Brown Holmes, managing partner at Riley Safer.
In addition to building and nurturing a diverse talent pipeline, law firms should collaborate with general counsel, academics and others to focus on injustices within the broader legal system, says Jonathan Harmon, chairman at McGuireWoods.
The pipeline of Black lawyers is limited, so BigLaw firms must invest in Black high school students, ensure Black attorneys receive origination credit and take other bold steps to increase Black representation in the industry, says Benjamin Wilson, chairman at Beveridge & Diamond.
If enough law firms undertake some universal diversity best practices, such as connecting minority lawyers to key client relationships and establishing accountability for those charged with spearheading progress, the legal industry could look a lot different in the foreseeable future, says Frederick Nance, global managing partner at Squire Patton.
Blockchain transactions’ pseudonymous and decentralized nature represent significant challenges for cryptocurrency exchanges attempting to comply with the Financial Crimes Enforcement Network’s funds travel rule, and leave even small exchanges with no respite from federal criminal enforcement actions, say E.K. McWilliams and Wade Thomson at Jenner.
In this brief video, Amy Greer and Valerie Mirko at Baker McKenzie explore what a change in administration after November's presidential election could mean for securities regulation, including for the U.S. Securities and Exchange Commission's Regulation Best Interest, the U.S. Department of Labor's recent fiduciary proposal and state enforcement efforts.
As remote work creates new employee monitoring obstacles, especially for investment firms with higher regulatory compliance obligations, employers must clearly and repeatedly communicate the scope of oversight for both company and personal devices, say Daniel Garrie at Law & Forensics and Yoav Griver at Zeichner Ellman.
Serving on my firm's diversity committee as an associate has allowed me to improve access, support and opportunity for minority attorneys at the firm, while building leadership skills and fostering meaningful relationships with firm management and industry professionals, says Camille Bent at BakerHostetler.
Although recent guidance underscores the Commodity Futures Trading Commission and U.S. Securities and Exchange Commission’s wide latitude to determine enforcement penalties, practitioners should consider several ways this breadth presents opportunities for effective advocacy in settlement negotiations, say attorneys at Davis Polk.
As the Consumer Financial Protection Bureau finally begins rulemaking on data access, it should take certain steps to ensure a modernized open finance framework under which a consumer or small businesses is in full control of their financial data, says Rebecca Mulholland at the Financial Data and Technology Association of North America.