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Money Laundering Securities Violations

Troutman Pepper

The US Attorney's Office for the Central District of California Announces Securities Fraud Task Force

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On October 4, U.S. Attorney for the Central District of California Martin Estrada announced the formation of a new task force, the Corporate and Securities Fraud Strike Force....more

Cadwalader, Wickersham & Taft LLP

SEC and Department of Justice Announce Parallel Crypto 'Insider Trading' Charges as Regulators and Congress Wrangle over...

On July 21, the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Attorney’s Office for the Southern District of New York announced parallel civil and criminal actions against a former product manager at Coinbase...more

Proskauer - Blockchain and the Law

Rise of Financial Crime in the NFT Market Elicits New Scrutiny from Regulators

With the enduring popularity of certain NFTs and the promise of their use in the Metaverse and beyond, the hype around the new technology has been accompanied by rising concerns over NFTs being the centerpiece of traditional...more

Proskauer - Corporate Defense and Disputes

Second Circuit Holds that Accurately Reported Financial Statements Are Not Actionable and that Materiality Has a Half-Life

The U.S. Court of Appeals for the Second Circuit held earlier this week that a company’s accurately reported financial statements are not misleading simply because they do not disclose that alleged misconduct might have...more

Goodwin

Ninth Circuit Holds Loss Causation May Be Predicated on Information Potentially Available Under Freedom of Information Act

Goodwin on

Ninth Circuit Holds Loss Causation May Be Predicated on Information Potentially Available Under Freedom of Information Act; D.C. Circuit Upholds FINRA’s Permanent Ban of Broker Accused of Misconduct After Finding SCOTUS...more

Robins Kaplan LLP

Financial Daily Dose 9.25.2020 | Top Story: US Jobless Claims Rise As Recovery Stagnates

Robins Kaplan LLP on

New U.S. unemployment claims rose last week according to data released on Thursday, the latest sign that America’s recovery from the pandemic-induced recession is slowing—a “particularly worrisome” trend as cold-state...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - December 2019

IN THIS ISSUE • Anticorruption Developments • Export Control Sanctions and Customs Enforcement • Export Control and Sanctions Developments • Global Investigations Resources • Writing and Speaking Engagements ...more

The Volkov Law Group

FINRA Fines BNP Paribas $15 Million for Anti-money Laundering Violations

The Volkov Law Group on

The Financial Industry Regulatory Authority is not known for its aggressive enforcement record.  But that may be changing. FINRA recently fined BNP Paribas for $15 million for anti-money laundering deficiencies in the...more

Ballard Spahr LLP

Court Decision Reinforces SAR Obligations of Penny Stock Clearing Brokers

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Second Post in a Two-Part Series - Opinion Stresses Importance of Narrative Sections and Supporting Documentation for SARs - In our first post in this series, we discussed the Securities and Exchange Commission’s...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Unbowed by personal attacks from the White House, Fed Chair Jerome Powell delivered remarks to the Economic Club of New York on Wednesday that markets used as an excuse to jump nearly 600 points by the closing bell.  ...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Hiding somewhat in the shadows during the rise of virtual currencies over the past year or two has been blockchain, the ledger technology that undergirds bitcoin and other cryptos, and its potential application beyond digital...more

Ballard Spahr LLP

DOJ Secures First Ever Conviction for Violating FATCA

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The Department of Justice (“DOJ”) has secured its first conviction ever under the Foreign Account Tax Compliance Act, or FATCA, through the guilty plea of Adrian Baron, a former executive of Loyal Bank Ltd., a bank with...more

Orrick, Herrington & Sutcliffe LLP

The SEC's Authority to Enforce the BSA Is Challenged

In the past few years, the SEC has become increasingly active in bringing enforcement actions based on broker-dealers' alleged failures to comply with requirements of the Bank Secrecy Act (BSA), in particular that requirement...more

Ballard Spahr LLP

When A Purported Money Laundering Investigation Turns Into a Class Action Complaint: The Latest Round in BofI’s Fight to Put Money...

Ballard Spahr LLP on

In February 2017, we blogged about a whistleblower complaint filed against Bank of the Internet (“BofI”) by its former internal auditor. The blog post addressed what the whistleblower believed was BofI’s wrongdoing in...more

Orrick, Herrington & Sutcliffe LLP

White Collar Criminal Law/Money Laundering - The World in US Courts: Spring 2018

Wire Fraud Statute Applies to Any Fraudulent Electronic Transmission Between the US and Another Country - United States v. McClellan, US District Court for the District of Massachusetts, February 27, 2018....more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS – U.S. Agencies Decline to Prosecute Teradata for Alleged FCPA Violations – On February 26, 2018, Teradata Corporation, an Ohio-based enterprise software database management company,...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS – U.S. Agencies Decline to Prosecute Teradata for Alleged FCPA Violations – On February 26, 2018, Teradata Corporation, an Ohio-based enterprise software database management company,...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - February 2018

ANTICORRUPTION DEVELOPMENTS – U.S. Agencies Decline to Prosecute Teradata for Alleged FCPA Violations – On February 26, 2018, Teradata Corporation, an Ohio-based enterprise software database management company,...more

Dickinson Wright

Gaming & Hospitality Legal News: Volume 10, Number 12

Dickinson Wright on

On December 5, 2017, following an internal government review of the casino sector after allegations of transnational money laundering and illicit cash transactions in gaming facilities in the Lower Mainland, British Columbia...more

Katten Muchin Rosenman LLP

Bridging the Week - July 2017 #3

LedgerX Approved by CFTC as First Derivatives Clearing Organization for Fully Collateralized Swap Contracts Potentially Settling in Bitcoin: On July 24, LedgerX was approved by the Commodity Futures Trading Commission as a...more

Ballard Spahr LLP

Yet Another Lawsuit Alleging Securities Laws Violations – and Individual Liability – Due to AML/BSA Failures

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Financial institutions face an increasing risk that alleged violations of the Bank Secrecy Act (“BSA”) and Anti-Money Laundering (“AML”) requirements will lead to follow-on allegations of securities law violations. We have...more

Stinson - Corporate & Securities Law Blog

SEC Charges Chief Compliance Officer with AML Violations

The SEC announced that John David Telfer, the former chief compliance officer and anti-money laundering (AML) officer of a registered broker-dealer, agreed to a securities industry bar to settle charges in a pending...more

Ballard Spahr LLP

SEC: Broker-Dealer Maintained AML Compliance Plan in Name Only

Ballard Spahr LLP on

On June 5, the SEC filed suit against Salt Lake City-based Alpine Securities, Corp. (“Alpine”). The complaint, filed in the Southern District of New York, alleges that the broker-dealer ran afoul of AML rules by “routinely...more

Ballard Spahr LLP

Individual Accountability in AML Cases

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This post discusses individual liability in AML/BSA enforcement, which is an area of increasing attention. Indeed, according to public statements by the government, individual liability is the focus of enhanced scrutiny...more

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