Legal en Panama Papers Firm to Shutter Wealth Management Unit <div class="node-body blog-body">Mossack Fonseca ordered to shutter wealth management business, institutional investors advocate an end to shell company secrecy and the common traits of high-net-worth investors.</div> <p><a href="" target="_blank">read more</a></p> Legal Markets Blogs High Net Worth The Daily Brief Tue, 24 May 2016 10:00:00 +0000 1190761 at In Mickelson Approach, SEC Claims No Wrongdoing but Wants Cash <div class="field-byline"> Matt Robinson, Erik Larson and Patricia Hurtado </div> <div class="node-body article-body">Even as Phil Mickelson agreed to surrender almost $1 million in what the government called ill-gotten stock market gains, his legal team claimed a victory.</div> <p><a href="" target="_blank">read more</a></p> Legal People Fri, 20 May 2016 13:21:00 +0000 1188811 at <p>Phil Mickelson brought the Claret Jug to the floor of the New York Stock Exchange after winning the British Open in 2013.</p> Copyright John Moore, Getty Images Five Banks Sued in U.S. For Rigging $9 Trillion Agency Bond Market <div class="field-byline"> Jonathan Stempel </div> <div class="node-body article-body">Five major banks and four traders were sued on Wednesday in a private U.S. lawsuit claiming they conspired to rig prices worldwide in a more than $9 trillion market for bonds issued by government-linked organizations and agencies.</div> <p><a href="" target="_blank">read more</a></p> Legal Fixed Income Thu, 19 May 2016 10:54:00 +0000 1187351 at Copyright Davis Turner, Getty Images More Than 25,000 Madoff Victims Now Eligible for $4 Billion Fund <div class="field-byline"> Jonathan Stempel </div> <div class="node-body article-body">The overseer of a $4 billion U.S. Department of Justice fund for victims of Bernard Madoff's Ponzi scheme said he expected to recommend payouts for at least 25,280 claimants with nearly $4 billion in fraud losses.</div> <p><a href="" target="_blank">read more</a></p> News Legal High Net Worth Wed, 18 May 2016 20:04:00 +0000 1187191 at <p>Bernie&nbsp;<span data-scayt-lang="en_US" data-scayt-word="Madoff's">Madoff&#39;s</span>&nbsp;fraud was uncovered in December 2008. Victims have been waiting 7 1/2 years to recover some of their losses.</p> Copyright Mario Tama, Getty Images Raymond James Fined for Failing to Follow Anti-Money Laundering Rules <div class="node-body article-body">Wall Street's industry-funded watchdog has fined Raymond James Financial Inc $17 million for widespread failures in anti-money laundering compliance, the regulator said on Wednesday.</div> <p><a href="" target="_blank">read more</a></p> Legal Regulation & Compliance Wed, 18 May 2016 14:31:00 +0000 1186681 at BofA Targeted By Top Female Banker in 'Bro's Club' Lawsuit <div class="field-byline"> Jonathan Stempel </div> <div class="node-body article-body">A senior female fixed-income banker at Bank of America Corp filed a lawsuit accusing the bank of underpaying women, and retaliating against her for complaining about illegal or unethical business practices by her colleagues.</div> <p><a href="" target="_blank">read more</a></p> Legal People Tue, 17 May 2016 16:16:00 +0000 1185581 at Copyright Justin Sullivan, Getty Images SEC, Treasury Ask Wall Street Dealers to Report Bond Trade Data <div class="field-byline"> Alexandra Scaggs </div> <div class="node-body article-body">Two government agencies are seeking the help of Wall Street’s self-regulator as they team up to survey about $500 billion of daily transactions in the U.S. Treasuries market.</div> <p><a href="" target="_blank">read more</a></p> Legal Fixed Income Regulation & Compliance Tue, 17 May 2016 15:10:00 +0000 1185361 at State Street Likely to Pay Over $500 Million to Settle Lawsuits - WSJ <div class="node-body article-body">State Street Corp is nearing a deal to pay more than $500 million to end long-running investigations over allegations that the custody bank dishonestly overcharged clients on currency transactions, the Wall Street Journal reported.</div> <p><a href="" target="_blank">read more</a></p> Legal Mon, 16 May 2016 17:27:00 +0000 1184451 at Copyright Chip Somodevilla, Getty Images IRS “Rolls Over” Where Beneficiary Designation Overlooked <div class="field-deck"> Surviving spouse receives taxpayer-friendly ruling in IRA case </div> <div class="node-body article-body">Without professional assistance, it’s easy for an individual to forego updating an essential element of their estate plan: beneficiary designations. </div> <p><a href="" target="_blank">read more</a></p> Legal Retirement Planning Public Thu, 12 May 2016 19:43:00 +0000 1182191 at Copyright Joe Raedle, Getty Images NY Regulator Wants Info From Goldman, Banks on Panama Firm Dealings - Source <div class="field-byline"> Suzanne Barlyn </div> <div class="node-body article-body">New York State's financial regulator has asked Goldman Sachs and three foreign banks for information about shell companies set up through a Panamanian law firm, a person familiar with the matter said on Wednesday.</div> <p><a href="" target="_blank">read more</a></p> Legal Taxes Thu, 12 May 2016 13:02:00 +0000 1181281 at Copyright Joe Raedle, Getty Images