Monday, 17 February 2014
This week: SEC Speaks 2014
This week, the US Security and Exchange Commission (SEC) will offer the world a first glimpse into its priorities for the year ahead, following its change of guard. The agency’s annual “SEC Speaks” event takes place on 21 and 22 February, in Washington, DC.
Thursday, 13 February 2014
Harvard University victim of Romanian bribery scandal
Harvard University will sell some of its Romanian forests after the agent it used to help buy the land was charged with taking bribes, according to the Harvard Crimson.
SEC hires senior trio
The Securities and Exchange Commission has appointed Paul Leder as director of its office of international affairs, David Fredrickson as chief counsel to the agency's corporation finance division, and Rick Fleming as its first investor advocate.
SEC fines two Hong Kong companies for insider trading
Two Hong-Kong based asset management companies have agreed to pay the US Securities & Exchange Commission US$11 million to settle insider trading charges.
Avon in DoJ and SEC discussions
US-headquartered cosmetics company Avon is reportedly in advanced talks with the DoJ and SEC to resolve a long-running FCPA investigation. The company has already had settlements rejected by the agencies: in 2012, the SEC and DoJ sought a “significantly greater” amount than the US$12 million the company had offered.
Canada to increase regulation of virtual currencies
Canada is bringing in new laws to prevent virtual currencies such as Bitcoin from being used to launder money, according to
BNP Paribas could face sanctions fine
BNP Paribas has recorded a US$1.1 billion charge to its financial statements to cover potential sanctions fines. After discussions with several regulators and law enforcers, the bank conducted an internal investigation of payments to countries, people and entities which may have been subject to US sanctions.
Wednesday, 12 February 2014
Cleary Gottlieb partner joins HSBC
Cleary Gottlieb Steen & Hamilton securities, white-collar defence and civil litigation partner Shawn Chen yesterday joined HSBC as co-head of its global litigation and regulatory affairs group.
Norway imposes accounting fraud sentences
Oslo’s district court sentenced two former Fast Search & Transfer executives for accounting fraud. Former CEO John Lervik was jailed for two years, of which one year is suspended.
Deutsche Bank fails to comply with document requests
A Dubai court has ruled Deutsche Bank failed to comply with document requests from the Dubai Financial Services Authority (DFSA), which regulates companies in Dubai’s International Financial Centre.
External counsel investigate Bank of England
The Bank of England has hired external counsel to investigate allegations its officials condoned foreign exchange benchmark manipulation. According to the Financial Times, a group of traders allegedly told Bank of England officials they were sharing client order information.
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