Transaction Monitoring Under the FCPA
Markets gave a warm welcome to the Biden administration on Wednesday, as strong tech performance and hopes of “large-scale economic stimulus” helped power an across-the-board rally that brought all three major U.S. indices...more
The ECB was even more aggressive than expected in its moves to “head off a downturn before it gained momentum,” cutting a key interest rate and reviving “a money-printing program.” At the same time, the central bank “issued...more
Late Friday, the Federal Trade Commission hit Facebook with a $5 billion fine for the social media company’s range of privacy violations over the past few years....more
Chevron has dropped its $33 billion bid for Anadarko, ending the energy industry’s “fiercest takeover battle in 15 years” and leaving smaller rival Occidental “poised to become the dominant force in the largest oil field in...more
More fun for Facebook, just a day after it revealed a coming FTC fine, with the news on Thursday that Canadian privacy commissioners “violated national and local laws in allowing third parties access to private user...more
The DOJ has charged former VW chief exec Martin Winterkorn (and 5 others) with conspiring to defraud the US government in Volkswagen’s “yearslong effort to rig its diesel vehicles to feign compliance with federal emissions...more
A day of massive lows (opening bell) and impressive rallies (with the dow up 230 by the end of the day) marked a wild Wednesday on Wall Street....more
With Davos 2018 in the rear view mirror, some analysts are pegging the “geopolitical momentum” as China’s to claim, thanks in no small part to its expansive and ongoing “Belt and Road” initiative....more
Food and consumer products conglomerate Unilever’s making a big play for the Asian market with its $2.7 billion deal to buy Carver Korea, a South Korean-based skin care specialist....more
Dealbook’s Street Scene column suggests that Wells Fargo would do well to forget about perceptions and start getting down to the hard business of fixing the “appalling behavior” that’s behind the ugly series of scandals that...more
A banner round of stress-testing for the US’s biggest banks (all passed for the first time in the test’s 7-year history) is seen as paving the way for banks to pay out their largest dividends in nearly a decade....more
Even as the administration is mulling over withdrawing from the Paris Climate Accord, Exxon Mobil’s shareholders have voted to demand a more detailed accounting of the climate change policy risks facing the company—an...more
The Securities and Exchange Commission (the “SEC”) recently issued a no-action letter to Morgan Stanley Smith Barney L.L.C. (“Morgan Stanley”) that will streamline the process for its wealth management clients to participate...more
In a new no-action letter to Morgan Stanley, Corp Fin agreed that, as outlined in the request letter, the firm’s proposed procedures for offering and selling securities in IPOs would not involve a pre-effective sale for...more
Faced with new Department of Labor rules requiring investment advisers to act in the best interest of their retirement account customers, Morgan Stanley’s decided to let its customers keeping paying for retirement advice with...more
Italy’s struggling lender Monte Dei Paschi is cutting jobs and closing branches in an effort to revive the world’s oldest bank (and maybe save Siena in the process)....more
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
In a gift to Wall Street today, Fed Chair Janet Yellen signaled that May’s weak job numbers were low enough to prompt reconsideration of a June rate hike out of fears of pushing a fragile economy too far too fast....more
In This Issue: - The 1996 Morgan Stanley Letter: Re-imagined at the Age of 18 - Structured CDs – Goodbye Regulation DD, Hello Regulation DD - FCA Issues Fine in Relation to Structured Product Transaction ...more