News & Analysis as of

UBS

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Mylan will pay $465 million to federal authorities to resolve claims that it overcharged the Medicaid program by millions for its EpiPen products. Though large, the figure represents about a third of the estimated...more

Paying for a debt restructuring - can costs be adopted by the Trustee?

by Hogan Lovells on

On 13 July 2017 the High Court gave its judgment in UBS AG, London Branch v. GLAS Trust Corporation Limited [2017] EWHC 1788 (Comm), a case brought by UBS against the trustee for notes issued as part of a securitisation...more

When can a note trustee lawfully adopt expenses incurred by noteholders? UBS AG, London Branch v. GLAS Trust Corporation Ltd. and...

by Dentons on

The Commercial Court considered the extent to which it was lawful for a note trustee to adopt and pay expenses incurred by a group of noteholders in obtaining advice in relation to a securitisation. While the judgment deals...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Federal Reserve Board Approves Extended Transition Period for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to Conform Investments in Certain "Illiquid Funds" to Requirements of...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

When it comes to the big (tech) 5, investors are cheering on their massive gains even as they nervously look around the corner for the dreaded market correction....more

Orrick's Financial Industry Week In Review

Financial Industry Developments - CFTC Proposes to Amend Rules Governing Chief Compliance Officer Duties and Annual Reports for Certain Registrants - On May 3, 2017, the U.S. Commodity Futures Trading Commission...more

A five minute roundup of upcoming cases and anticipated regulatory developments of interest to the Financial Services sector

by DLA Piper on

Welcome to the fourth edition of our On the Financial Services Horizon newsletter – a regular update on upcoming cases and anticipated regulatory developments affecting the Financial Services sector....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Investors’ decreasing appetite for actively managed mutual funds appears to have helped drive the major shake-up at AllianceBernstein Holding, which said so long to CEO Peter Kraus and removed nine board members in favor of 6...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

White Collar Watch dates itself considerably with its Perry Mason allusion, but its bigger point is an interesting one–good luck finding a true “gotcha” moment when dealing with what are “quintessentially offenses of the...more

Roundup of upcoming cases and anticipated UK regulatory developments

by DLA Piper on

Cases to watch- Wall v RBS – is the bank entitled to an order requiring Mr Wall to identify the third party funder funding his case so that the bank can make an application for security for costs against the funder? Due...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The FHLB Boston’s $5.9 billion MBS case against Morgan Stanley, UBS, and Credit Suisse, is back in Massachusetts state court—a result of the Supreme Court’s Lightfoot v. Cendant Mortgage case that held that Fannie Mae’s...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Turns out the Fed’s plate isn’t just full of decisions surrounding interest rates. It’s got a massive portfolio of mortgage and Treasury securities that needs some serious tending, too....more

Complex Investment Product Training Materials Under Fire

by Carlton Fields on

In September 2016, the SEC imposed an approximately $15 million penalty and disgorgement (in total) against UBS Financial Services Inc. (UBS) as part of a settled action alleging that UBS failed to adequately train its...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A NY state court threw out Ace Decade Holdings’ suit against UBS accusing the Swiss lender of fraud for its $500 million investment loss in a Chinese company. The court found that jurisdictional issues plagued plaintiff’s...more

Orrick's Financial Industry Week in Review

Financial Industry Developments - Agencies Publish Study on Banking Activities and Investments under Dodd-Frank - On September 8, 2016, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance...more

Banks Announce Plan for Utility Settlement Coin

by Goodwin on

Several big banks running the very system of money exchange that bitcoin was created to replace are now planning on co-opting bitcoin technology. This blog previously discussed that banks were interested in using...more

Your daily dose of financial news - The Brief – 7.5.16

by Robins Kaplan LLP on

Even with US markets shrugging off the Brexit [maybe?] by the end of last week, the effects of the split are FAR from over. One recent ripple: Standard Life Investments UK Real Estate mutual fund—which invests in high-end...more

US Board of Governors of the Federal Reserve System and US Federal Deposit Insurance Corporation Grant Extension to Four Foreign...

by Shearman & Sterling LLP on

The Federal Reserve Board and the FDIC announced that they are giving four foreign banking organizations a one-year extension for the submission of their next US resolution plans. Barclays PLC, Credit Suisse Group, Deutsche...more

Bridging the Week - June 2016 #2

CFTC Hosts Regulation AT Roundtable; Chairman Implies Risk Rules Sufficient for 2016: Staff of the Commodity Futures Trading Commission sponsored a roundtable on proposed Regulation Automated Trading last Friday. The...more

Bridging the Week - June 2016

Broker-Dealer Sanctioned by SEC for Anti-Money Laundering Breakdowns: Albert Fried & Company, LLC, a Securities and Exchange Commission-registered broker-dealer, agreed to pay a fine of US $300,000 to resolve charges by the...more

The Panama Papers: Managing Corporate Risk and Uncertainty

On April 3, 2016, it became public that an anonymous source had leaked 11 million confidential documents, known as the “Panama Papers,” belonging to the Panama-headquartered international law firm Mossack Fonseca. As more of...more

Who Are The Likely Targets of the Offshore Law Firm Date Leak?

by Sanford Millar on

The reports of a massive leak of confidential client information from files of the Mossack Fonseca & Co., law firm could have far ranging effects from intelligence, law enforcement and commercial perspectives. The...more

IRS Uses New Tactic to Expand Efforts to Combat Offshore Tax Evasion

In a search for financial records of a U.S. taxpayer who allegedly parked undeclared income offshore, the Internal Revenue Service (IRS) and the U.S. Department of Justice (DoJ) are seeking to enforce a summons against a U.S....more

Your daily dose of financial news The Brief – 2.26.16

by Robins Kaplan LLP on

Once again pulling no punches, Breakingviews dubs Foxconn’s [now questionable] takeover a “messy milestone” for Sharp, the “ailing maker of display TVs” – NYTimes... South Korea’s top financial regulator is seeking to...more

DOJ Tax Division Chief Outlines Enforcement Priorities for 2016

by Blank Rome LLP on

In speech delivered on January 29, 2016, at the American Bar Association’s Tax Section Midyear Meeting, Acting Assistant Attorney General Caroline D. Ciraolo of the Justice Department’s Tax Division recapped her agency’s...more

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