Large Canadian Bank Seeks Disclosure Exception for Some Foreign Accounts under FATCA

A major Canadian bank Aug. 11 asked the Internal Revenue Service not to require the disclosure of accounts in foreign jurisdictions that already send detailed tax information to the United States, as the…

CFTC, Japanese Counterparts Sign Agreement for Cooperation in Investigations Involving Commodity Futures

The Commodity Futures Trading Commission has signed a “statement of intent” with fellow regulators in Japan to establish a framework for information sharing and cooperation in cross-border investigations of potential violations of commodity futures laws.

Bankruptcy Court Enlists U.K. Help to Force Production of Madoff Records

The U.S. Bankruptcy Court for the Southern District of New York Aug. 17 asked a British court to order HSBC Holdings plc and HSBC Bank plc, two U.K. financial institutions, to produce records of administrative, custodial, and other services they provided to feeder funds with accounts at Bernard Madoff’s broker-dealer

CFTC Staff Allows U.S. Clients Access to Turkish Index Futures

The Commodity Futures Trading Commission’s Office of General Counsel issued a no-action letter Aug. 17 permitting the offer and sale in the United States of the Turkish Derivatives Exchange’s futures…

Supreme Court Decision in ‘Foreign-Cubed’ Case Could Drive Global Class Actions to Other Jurisdictions

The U.S. Supreme Court’s recent decision in Morrison v. National Australia Bank Ltd. could drive transnational class actions to other countries such as…

Brothers Who Sat on Corporate Boards Allegedly Reaped $550 Million Via Illegal Trades

The Securities and Exchange Commission July 29 filed suit in the U.S. District Court for the Southern District of New York against two Dallas brothers who allegedly…

Supreme Court Affirms Dismissal of ‘Foreign-Cubed’ Case, Limiting Reach of U.S. Securities Laws

Ruling in a so-called “foreign-cubed” case involving the application of the U.S. securities laws to foreign securities transactions, the U.S. Supreme Court June 24 affirmed…

PCAOB Issues Staff Guidance Targeting Registration Process for Some Non-U.S. Firms

The Public Company Accounting Oversight Board June 1 issued updated staff guidance on the registration process for audit firms applying to register with the PCAOB from non-U.S. jurisdictions in…

Chinese Bar Against PCAOB Inspections Poses Risk for U.S. Investors, Acting Chairman Says

Prohibitions against the Public Company Accounting Oversight Board inspecting the work of auditing firms in China raise the possibility that, as more Chinese companies operate and file financial reports in…

U.S. Buyers of European Stock Blocked from Suing in U.S. Courts

As the U.S. Supreme Court considers the extraterritorial reach of the U.S. securities laws, the U.S. District Court for the Southern District of New York ruled March 26 that a…

Next Page »