Finance & Banking Criminal Law

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

Supreme Court Weighs In On Insider Trading Law – Finds Giving Gifts Can Be Its Own Reward

In its decision issued yesterday in Salman v. United States, 580 U.S. __ (2016), the United States Supreme Court unanimously affirmed a criminal insider trading conviction even though there was no evidence that the tipper...more

In Salman v. United States, Supreme Court Holds that the Government Need Not Prove that an Insider Received a Pecuniary Benefit in...

On December 6, 2016, the Supreme Court issued a unanimous decision in Salman v. United States, holding that a tipper’s gift of confidential, inside information to a trading relative constituted a sufficient personal benefit...more

Financial Services Weekly News - December 2017

Editor's Note - OCC to Move Forward with Federal FinTech Charter. In a development foreshadowed in the April 6, June 29 and September 14 editions of the Roundup, on December 2, the Office of the Comptroller of the...more

The Salman Decision-The Supreme Court Weighs in on Insider Trading

Significant decision comes after nearly two decades of silence. For the first time in nearly 20 years, the US Supreme Court has weighed in on insider trading law and handed a victory to the government and its insider...more

NY Court of Appeals Finds Personal Jurisdiction Based on Use of NY Correspondent Bank Accounts

A sharply divided New York Court of Appeals recently held that defendants who allegedly made intentional and repeated use of New York correspondent bank accounts for money laundering thereby purposefully transacted business...more

Five Indicted for Alleged $33 Million Fraudulent Mortgage Discharge Scheme

On December 1, 2016, the United States Attorney’s Office for the Southern District of New York, the New York Field Division of the Federal Bureau of Investigation, and the Department of Housing and Urban Development (HUD)...more

New York Court of Appeals Finds 'Repeated, Deliberate Use' of Correspondent Account Sufficient to Establish Personal Jurisdiction...

In a decision that has implications for non-U.S. financial institutions with correspondent accounts in New York, a closely divided New York Court of Appeals held on November 22, 2016, that the “[r]epeated, deliberate use [of...more

Red Notice Newsletter - November 2016

JPMorgan Resolves Enforcement Action Regarding China Subsidiary’s Hiring Practices - On November 17, 2016, JPMorgan Chase & Co. (JPMC) entered into a nonprosecution agreement with the Department of Justice (DOJ), and...more

Massachusetts Division of Banks Announces Return of $2.3 Million to Consumers Under Settlement with Payday Lender

On November 22, 2016, the Massachusetts Division of Banks (“DOB) announced that it has returned approximately $2.3 Million to 1,673 Massachusetts residents, as part of a settlement with an online payday lender. The payday...more

Asset misappropriation – investigating people and money?

Forensic accounting has been described as an “art and science” that investigates people and money. Forensic accountants are known for tracing funds (following the money), uncovering hidden assets and educating involved...more

United States Attorney’s Office Announces Guilty Pleas in Criminal Prosecution of Alleged $31 Million Debt Collection Scheme

On November 18, 2016, the U.S. Attorney’s Office for the Southern District of New York (“USAO”) announced that the co-owner and chief financial officer of a debt collection company, and a company manager, pleaded guilty to...more

US Financial Crimes Enforcement Network Issues Advisory and Frequently Asked Questions on Reporting Cyber-Events in Suspicious...

On October 25, 2016, FinCEN issued an Advisory and related Frequently Asked Questions (FAQs) regarding the reporting of cyber-events, cyber-enabled crime and cyber-related information through Suspicious Activity Reports...more

Significant Swiss ruling handed down on privilege in anti-money laundering investigations

In a recent judgment, the Swiss Federal Tribunal has ruled that, where a financial institution delegates its investigation and reporting obligations under the Swiss Anti-Money Laundering Act ("AMLA") to external counsel,...more

Bridging the Week - November 2016 #3

Federal District Court Approves Flash Crash Spoofer’s US $38 Million Settlement; Federal Appeals Court Appears Sympathetic to Michael Coscia’s Claim That Spoofing Prohibition Is Too Vague - The US federal court handling...more

Corporate criminal liability risk increases for financial services

A proposed new UK law contains the largest expansion of UK corporate criminal liability since the Bribery Act 2010 and one of the most significant overhauls of money laundering and proceeds of crime legislation in the last...more

Warning to "Marijuana Investors" Consider Federal Enforcement

The Controlled Substances Act ("CSA") lists Marijuana (cannabis) as a Schedule 1 drug. That means "the drug or substance has no currently accepted medical use in treatment in the United States. Efforts to reclassify marijuana...more

Beneath A Panamanian Moon: Criminalising Secrecy

Originally published in Risk Advisory, 2016. The term “Panama Papers” has become a by-word for financial skulduggery. On 3 April 2016, the International Consortium of Investigative Journalists revealed that it had a...more

What you should know about identity theft

Take precautions in giving your personal information as people with ill intentions may misuse it. Dubai: As alarming as it sounds, you could be the next victim of identity theft.The phenomenon is becoming more prevalent...more

Banks Should Prepare for Increased Collaboration between IT, Legal and BSA/AML Compliance Departments under New FinCEN Guidance

Last month, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued an Advisory which provided substantial guidance to financial institutions regarding the scope of information that must be...more

Court Rules Debt Collector Must Pay $3.9 Million and Go to Prison

On November 10, 2016, the United States Attorney’s Office for the Southern District of New York announced the owner of a debt collection company was sentenced to five years in prison and ordered to pay $3.9 million in...more

Four California Residents Jailed and to Pay $7 Million in Restitution for Debt Relief Scheme

On November 14, 2016, the Department of Justice (DOJ) and U.S. Postal Inspection Service announced that four California individual defendants were sentenced for their participation in an allegedly fraudulent debt relief...more

Are Cyber Thieves Compromising E-Mail? .. YES!

Recently FinCEN issued Advisory (FIN-2016-A003) regarding e-mail compromise schemes that defraud Financial Institutions by deceiving them into conducting wire transfers that result in misappropriated customers funds. The...more

Follow the money - the Criminal Finances Bill

The Criminal Finances Bill sets out measures to combat money laundering and tax evasion that will also affect corporate compliance requirements, particularly in the finance and professional services sectors....more

Disclosing personal data – new protections for regulated sector firms?

New protections are being proposed in the UK to allow regulated sector firms to share information regarding suspicions relating to money laundering and terrorist financing, in circumstances where law enforcement has been...more

NY AG Secures $1.6 Million Settlement For Alleged Mortgage Relief Scheme

On November 2, the New York Attorney General (AG) announced a $1.6 million settlement with a debt settlement company and its principal, resolving allegations that the company violated New York’s deceptive and unlawful...more

1,725 Results
|
View per page
Page: of 69

Follow Finance & Banking Updates on:

JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×