Episode 183 -- Review of the Deutsche Bank FCPA and Spoofing Fraud Case
Compliance into the Weeds: Deutsche Bank Fined Over Epstein Accounts
Daily Compliance News: March 3, 2020, the Devil’s Advocate edition
On December 14, 2023, the United States District Court for the Southern District of New York (the “Court”) granted an unusual ex parte application to serve third-party discovery subpoenas on U.S.-based Deutsche Bank entities....more
Between February 23 and March 3, three leading global financial institutions announced updated environmentally linked targets aimed at reducing by 2030 their financed emissions in carbon intensive sectors, including oil &...more
On February 7, a group of 30 investors, representing over $1.5 trillion of assets under management, wrote to the CEOs and board chairs of five major European banks “urging them to stop directly financing new oil and gas...more
Last week, the U.S. District Court for the Southern District of New York dealt a major blow to mortgage investors in two parallel actions pending for the past few years. The impact proved to be fatal to one of the actions,...more
The Justice Department trumpeted its criminal prosecutions against defendants charged with Libor-rigging. It had a right to toot its own horn. But many of these convictions have not withstood the scrutiny of appellate...more
In a significant departure from decades of restrictive population management efforts, China’s ruling party will now permit couples to have three children—“ending a two-child policy that has failed to raise the country’s...more
Real Property Update - Mortgage / Parcel Description: Because recorded mortgage sufficiently and unambiguously described subject property, purchasers had constructive notice that property was encumbered by the mortgage;...more
Real Property Update - Foreclosure: Where the foreclosure defendant was properly served, and default and default final judgment was entered against said defendant, the defendant can only contest the unliquidated damages...more
Real Property Update - Condition Precedent / Summary Judgment: Master association was not an owner of the condominium association and lacked standing to defend litigation based upon condominium association’s alleged...more
Real Property Update - Due Process: Trial court violated developer’s due process rights by considering and ruling upon developer’s motion to quash service of process, which was not set for hearing, despite developer’s...more
Financial Services Update - Title Insurance Coverage: where an accurate survey would have shown that seller had abandoned access and parking easement, which had been built upon by a neighbor, title insurer had no duty to...more
Ride-hailing giant Uber laid off 350 workers on Monday as part of an ongoing effort to pare costs that now represents 1000 jobs cut since July....more
Real Property Update - Foreclosure Sale: borrowers failed to allege adequate equitable factors and make proper showing to justify setting aside foreclosure sale, but instead re-litigate issues determined in underlying...more
Real Property Update - Foreclosure / Condo Assessments: under section 718.116(1)(a), Florida Statutes, present condo owner is jointly and severally liable with the previous owner for unpaid assessments and related expenses...more
Financial institutions M&A sector trends: payments — H1 2019 and outlook for H2 2019 - CURRENT MARKET - Consistent, very high activity levels. WE ARE SEEING - Demand from keen investors: - Trade...more
Real Property Update - Foreclosure / Standing: owner of property subject to mortgage at the time the complaint and lis pendens were filed had standing to dispute legal sufficiency of proof of amount due where owner was...more
Real Property Update - Attorneys' Fees / Voluntary Dismissal: it is an exception to the general rule that when a plaintiff voluntarily dismisses an action the defendant is the prevailing party, when both parties...more
Deutsche Bank on Wednesday confirmed the basics of a recent German newspaper report that revealed that the bank “had used faulty software to screen customer transactions for suspicious activity” while claiming that “no...more
Real Property Update - Foreclosure / Standing: bank cannot rely solely on its acquisition of prior lenderto prove standing where note was specially indorsed to prior lender - Certo v. The Bank of New York Mellon, No....more
Real Property Update - Foreclosure / Attorneys' Fees: borrower not entitled to attorneys' fees for prevailing on lender's claim for reformation of mortgage, where lender prevailed on claim of foreclosure without...more
Real Property Update - Foreclosure / Paragraph 22: bank failed to introduce sufficient evidence to prove default letter was sent to borrower pursuant to paragraph 22 of the mortgage where bank's witness never testified that...more
The DC Circuit Court of Appeals dealt the DOJ a blow yesterday with a ruling that “rejected the government’s claim that a lower court had applied antitrust laws incorrectly in allowing the merger” between AT&T and Time Warner...more
Real Property Update - Trespass / Temporary Injunction: temporary injunction order premised upon a physical trespass onto property, which did not specify actions that constitute trespass, did not enjoin use of airspace over...more
It was quite a run, but on Thursday, ECB chief Mario Draghi announced that the bank is finally putting an end to the quantitative easing program it’s used “to hold down interest rates and encourage lending” since 2015. ...more
Less than a day after the Journal reported that CBS and the Redstones are nearing a deal to resolve their many differences, we’ve learned that CBS chief Les Moonves—facing an investigation into alleged sexual harassment...more