Latest Legal News: Finextra Research

Company update/Legal

CMA extends timetable for retail banking market investigation

The CMA expects to extend the timetable for its investigation into the retail banking market.

29 January 2016

Dutch cops arrest 10 over bitcoin money laundering scheme

Dutch authorities have arrested 10 men accused of using bitcoin to launder up to EUR20 million made from selling drugs online.

20 January 2016

Company update/Legal

Finra sanctions Fidelity Brokerage Services $1 million for supervisory failures

The Financial Industry Regulatory Authority (FINRA) announced today that it fined Fidelity Brokerage Services LLC $500,000 and ordered the firm to pay nearly $530,000 in restitution for failing to detect or prevent the theft of more than $1 million from nine of its customers, eight of whom were senior citizens.

18 December 2015

Company update/Legal

FCA fines Threadneedle Asset Management Limited £6m

The Financial Conduct Authority (FCA) has fined Threadneedle Asset Management Limited (TAML) £6,038,504 for failing to put in place adequate controls in the fixed income area of its front office, and for providing inaccurate information to the regulator and for failing to correct the inaccurate representation for four months.

15 December 2015

Company update/Legal

SFC reprimands and fines three JP Morgan entities a sum of HK$30 million for regulatory breaches

The Securities and Futures Commission (SFC) has reprimanded J.P. Morgan Broking (Hong Kong) Limited (JPMBHK), J.P. Morgan Securities (Asia Pacific) Limited (JPMSAP) and J.P. Morgan Securities (Far East) Limited (JPMSFE) (collectively “JP Morgan”), and fined them $15 million, $12 million and $3 million respectively for various regulatory breaches and/or internal control failings.

15 December 2015

News/Legal

Fiserv loses three-year patent dispute with FIS

FIS has won a three-year patent dispute suit lodged by rival vendor Fiserv following a ruling that the alleged infringements were 'unpatentable'.

08 December 2015

Company update/Legal

Former secret service agent sentenced to 71 months in Silk Road investigation

A former Secret Service special agent who had been a member of the Baltimore Silk Road Task Force was sentenced to 71 months in prison today on charges of money laundering and obstruction of justice.

08 December 2015

Company update/Legal

Alleged senior Silk road advisor arrested

Manhattan U.S. Attorney announces arrest and unsealing of charges against senior adviser to the operator of the “Silk Road” Website. Roger Thomas Clark was a key figure in the development of Silk Road who helped Ross Ulbricht run the criminal enterprise.

07 December 2015

News/Legal

Target reaches $39.4m data breach settlement

Target has reached a $39.4 million settlement with banks and credit unions over expenses accrued following the massive 2013 data breach at the US retail chain.

02 December 2015

Company update/Legal

Cops make fifth TalkTalk hack arrest

A fifth person has been arrested in connection with the investigation into alleged data theft from TalkTalk.

24 November 2015

News/Legal

US prosecutors lay out charges connected to huge JPMorgan hack

US prosecutors have unveiled charges against three men accused of hacking into a host of major financial institutions, including JPMorgan Chase, and stealing the data of millions of people.

10 November 2015

Company update/Legal

Police make fourth TalkTalk arrest

On the evening of Tuesday, 3 November, detectives from the Metropolitan Police Cyber Crime Unit (MPCCU) and officers from the National Crime Agency (NCA) executed a search warrant at an address in Norwich.

03 November 2015

News/Legal

15-year-old boy arrested in connection with TalkTalk hack

A 15-year-old boy has been arrested in Northern Ireland in connection with the hack on mobile operator TalkTalk, which put the banking details of millions of people at risk.

26 October 2015

News/Legal

EU's top court rules in favour of tax-exempt bitcoin

The European Court of Justice has ruled that bitcoin and other virtual currency transactions should be exempt from value added tax.

22 October 2015

News/Legal

Corrupt Silk Road agent gets 78-month prison sentence

Corrupt former DEA agent Carl Force has been sentenced to six-and-a-half years in jail after pleading guilty to a three-count charge of money laundering related to the theft of hundreds of thousands dollars in digital currency during the Silk Road bust.

20 October 2015

News/Legal

US Marshals to auction off final Silk Road bitcoin haul

The United States Marshals Service is preparing to auction off the final 44,341 bitcoins - worth around $10.8 million at current prices - seized in connection with the Silk Road dark web marketplace.

06 October 2015

News/Legal

BofA files for cryptocurrency-based wire transfer system patent

Bank of America has filed a US patent application for a system and method that uses cryptocurrency technology for wire transfers.

22 September 2015

News/Legal

Morgan Stanley advisor pleads guilty over data breach

A former Morgan Stanley staffer fired by the bank for downloading confidential information on hundreds of thousands of customers to a home server could face five years in prison after a guilty plea.

21 September 2015

News/Legal

BitPay loses $1.8m in phishing attack

BitPay lost $1.8 million in a phishing attack late last year, according to lawsuit filed by the bitcoin payment processing firm against an insurer it is trying to get to cover some of the losses.

17 September 2015

News/Legal

Judge paves way for banks to sue Target over data breach

A US judge has given a group of banks the go-ahead for a class action lawsuit against Target over the massive 2013 data breach at the US retail chain.

16 September 2015