June 15, 2023
Wall Street’s main regulator is moving to introduce new rules for brokerages using artificial intelligence to interact with clients. The US Securities and Exchange Commission said Tuesday that a long contemplated plan to rein in conflicts of interest associated with …
June 9, 2023
The SEC’s new lawsuit against Coinbase Global Inc. appears best positioned among cryptocurrency cases to let the US Supreme Court finally decide if digital assets count as securities. The crypto tokens traded by Coinbase users should be treated as unregistered …
March 14, 2023
Silicon Valley Bank (SVB) on Monday was hit with what appears to be the first federal securities class-action lawsuit against it, carrying allegations that the bank made false or misleading statements pertaining to the potential impact rising interest rates could …
March 13, 2023
Silicon Valley Bank customers will have access to their deposits starting on Monday, U.S. officials said on Sunday, as the federal government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of the …
March 13, 2023
The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems in banking – a bank run – which led to its failure on Friday. Its …
September 7, 2022
Global insurance broker HUB International Ltd. has acquired the assets of James L. Miniter Insurance Agency, Inc. Located in Rockland, Massachusetts, Miniter Group is a provider of lending risk products and services in the banking space, including outsourced insurance tracking …
February 9, 2022
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI), RiverStone International and broker Tysers. A summary of these new hires follows here. BHSI Promotes McGriskin to Head of UK Financial Institutions Berkshire Hathaway Specialty Insurance …
September 28, 2021
Financial crime compliance costs for the U.S. and Canada are at nearly $50 billion in 2021, a rise of almost 20% from the year before, according to a new LexisNexis study. Labor costs, more regulations and evolving crime threats are …
May 6, 2021
COVID-19 may drive market corrections and insolvencies that could impact financial institutions’ balance sheets, increase exposures for directors and result in litigation. However, financial institutions are also facing many other risks in the areas of cyber, climate, compliance and corporate …
March 3, 2021
Wall Street banks are seeking new legal protections to help avoid a repeat of Citigroup Inc.’s accidental $900 million payment to Revlon Inc. lenders. After last month’s surprise court ruling that let certain Revlon creditors keep $500 million of the …