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Your Daily Dose of Financial News

by Robins Kaplan LLP on

Barclays and a group of its former execs are facing charges of fraud by false representation by Britain’s Serious Fraud Office over deals they struck with Qatar in 2008 to avoid a government bailout....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

An EU high court opinion yesterday about a trade deal with Singapore could throw yet another stumbling block in the way of Britain’s exit of the union. Read on for more on the intricacies of the EU division of competencies....more

Saudi Arabia Update - January 2017

by Dentons on

Legal developments - Government's payments of the remaining dues to the private sector - As a result of the crash in oil prices in mid-2014, the Saudi government was forced to cancel projects and delay payments to...more

Fantasy Stock Picking Contest Deemed by SEC to be Illegal Security-based Swaps

The SEC shut down a “fantasy” stock picking game for allegedly violating securities laws. Forcerank LLC ran contests via mobile phone games where players paid a fee and predicted the order in which 10 securities would perform...more

Your daily dose of financial news - The Brief – 7.29.16

by Robins Kaplan LLP on

A federal judge in Idaho has dismissed a $24 billion lawsuit against Credit Suisse alleging that the bank and real estate adviser Cushman & Wakefield ran a “predatory loan-to-own scheme that . . . loaded four luxury ski and...more

ThisWeek in FCPA-Episode 14, the Wolf of Wall Street Edition

by Thomas Fox on

In this episode, Jay Rosen and I talk about the SFO investigation into Unaoil, the forfeiture lawsuit filed in the 1MDB scandal, the possible JP MorganChase sons and daughters FCPA settlement, the new Standard Law School FCPA...more

Emerging Trends Newsletter - Q2

by Stinson Leonard Street on

We are thrilled to bring you the 2nd installment of Stinson Leonard Street's Emerging Trends newsletter. Recent Delaware Supreme Court Opinion Limits General Personal Jurisdiction for Foreign Corporation - Recent...more

Your daily dose of financial news - The Brief – 6.30.16

by Robins Kaplan LLP on

US banks made a strong showing in part 2 of the latest round of the Fed’s stress tests. Only Morgan Stanley didn’t pass unconditionally (concerns over the company’s “internal controls and processes” tripped it up), while the...more

Your daily dose of financial news The Brief – 5.20.16

by Robins Kaplan LLP on

Manhattan USA Preet Bharara’s back in front of the cameras and back on the insider-trading horse with the announcement yesterday of criminal charges against well-known sports bettor Billy Walters and former investment banker...more

Your daily dose of financial news The Brief – 4.28.16

by Robins Kaplan LLP on

As expected, the Fed held steady on rates as it waits for the American economy and labor market to keep improving. June remains on the table for the next incremental increase, though some analysts are shifting expectations...more

Debt Restructurings -- New Developments

by Shearman & Sterling LLP on

Shearman & Sterling joined 27 other law firms in developing an opinion white paper regarding the application of recent judicial opinions relating to Section 316(b) of the Trust Indenture Act of 1939 in the Marblegate and...more

Rating Agency Developments

On April 13, Moody’s published its approach to rating obligations with variable promises, where the source of variation is related to non-standard or non-credit-related reference factors. ...more

Will the FCPA Go Down Under (again)?

by Thomas Fox on

We do not often have the chance to go ‘down under’ at the FCPA Compliance and Ethics Blog. However, there is a case brewing that may have some Foreign Corrupt Practices Act (FCPA) implications as well as Australian...more

The man who sold the world: Bowie, bonds and IP securitisation

by DLA Piper on

The loss of David Bowie at the start of this year prompted much discussion of his musical legacy, but less well-publicised was his contribution to finance....more

The Smart Guys in Everett Saw Steve Wynn's China Strategy from a Mile Off

by PretiFlaherty on

One of the proverbs lodged in my cranium is, “The judgment of the village is never wrong.” I buy that. I also think that units within cities – neighborhoods, social clubs, busy restaurants, coffee shops and bars -- take...more

The SEC, Insider Trading and the Super Bowl

by Dorsey & Whitney LLP on

Perhaps the SEC is developing a sense of ironic timing. The day after the Super Bowl the Commission filed an insider trading action. The conversations which are the predicate for the alleged illegal securities trades began in...more

SEC Charges Oxford City Football Club With Fraud

by Dorsey & Whitney LLP on

It was touted as “the largest publicly traded diversified portfolio of professional sports teams in the world.” The firm actually owned interests in a U.K. football team and other sports teams. The company was put together by...more

Rating Agency Developments

On November 2nd, DBRS updated its rating methodology for Companies in the Gaming Industry. On November 2nd, DBRS updated its rating methodology for European Non-Performing Loans Securitizations. On October 30th, Moody’s...more

The Financial Report - Volume 14, No. 18 - September 2015 (Global)

by DLA Piper on

Casino games are designed with a house advantage. Mathematically, the house advantage is a measure of how much the house expects to win, expressed as a percentage of the player’s wager. The house advantage is the difference...more

Treasury Department Publishes National Money Laundering Risk Assessment and National Terrorist Financing Risk Assessment

by Davis Wright Tremaine LLP on

On June 12, 2015, Treasury Department issued its National Money Laundering Risk Assessment (NMLRA) and National Terrorist Financing Risk Assessment (NTFRA). This is the Department’s first NMLRA release in a decade and its...more

SEC Charges Advisory Firm to Sports Figures and Officers With Fraud

by Dorsey & Whitney LLP on

The SEC filed two actions centered on an advisory firm that serves on high net worth individuals, primarily current and former professional athletes. The actions are based on the theft of client funds and a failure to...more

FIFA and BHP Billiton: The Unique FCPA Challenges Present in International Sports

by Shearman & Sterling LLP on

Recent enforcement actions by the Department of Justice and Securities and Exchange Commission have raised the profile of corruption in international sport and highlight unique FCPA compliance concerns. This note will explain...more

Failure To Disclose Finder’s Fee Found Not To Be Actionable

by Allen Matkins on

This interesting, but atypical case, involves one of the many possible issues that can arise from the use of unlicensed finders to raise securities. Five years ago, Daniel Azouri met Marvin Lipschultz at the Cannes...more

Gambling and the Bank Secrecy Act

by K&L Gates LLP on

The Bank Secrecy Act (“BSA”) is a complex set of federal laws and regulations that require “financial institutions” to keep records, make reports, and conduct due diligence as a means of helping the federal government detect...more

AUSTRALIA: ASIC rules risk management facilities to be used by sporting organisations are financial products

by DLA Piper on

On 28 January 2015, the Australian Securities and Investment Commission (ASIC) rejected a relief application by the issuer of ’risk management facilities’ used by sporting clubs and retailers. The application for Australian...more

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