NEXT
Sign in to follow

New York Law Journal

Should the United States Be the Global Financial Policeman? International Extradition of White-Collar Defendants

The United States needs to consider carefully whether its treaty advantages and broad jurisdictional statutes should be aggressively used to bring foreign defendants to the United States when the American interest is limited and when other countries may have a greater interest in applying their own statutes, and their own penalty structures.
8 minute read

New York Law Journal

The CTA Paradigm Shift: Why Practitioners, Industry and Law Enforcement Should Care

The CTA constitutes the most significant change to the U.S. anti-money laundering regime since the USA PATRIOT Act of 2001, and legal practitioners, industry, and law enforcement should pay careful attention to its rollout, which will primarily be addressed in regulations to be promulgated by the U.S. Department of Treasury.
7 minute read

New York Law Journal

Prosecutors' New Weapon in Cross-Border Investigations

The Anti-Money Laundering Act of 2020, which became law on Jan. 1, 2021, greatly expands the U.S. government's authority to subpoena records from foreign banks with no U.S. branches, and this expansion has the potential to dramatically impact future white-collar investigations. This article provides insight into how the recent legislation could affect cross-border, white-collar investigations, how foreign banks can (or should) respond if they receive these subpoenas, and what affirmative measures foreign banks can take to prevent coming under scrutiny themselves.
8 minute read

Texas Lawyer

Preparing Wealthy Clients for Tax Changes in Washington

The wealthiest Americans could very conceivably be facing a higher tax bill in the next four years under President Biden, say Andrea Kushner and Bowman Hallagan of Bernstein Private Wealth Management.
5 minute read

New York Law Journal

Current Attempts To Define Regulator Roles in Cryptocurrency Enforcement Actions

The John McAfee case and the expected upcoming congressional task force on cryptocurrencies are likely to provide the market with more clarity on how coins and projects will be treated in investigations, including whether they can be treated as securities or commodities and the relative roles of the SEC and CFTC.
7 minute read

New York Law Journal

Civil FBAR Penalty Litigation: No Reprieve for Taxpayers

In this edition of his Tax Litigation Issues column, Jeremy H. Temkin discusses recent decisions that reflect a continued judicial antagonism to taxpayers' attempts to avoid civil penalties and the rejection of attempts to cap such penalties.
9 minute read

New York Law Journal

The Governor's LIBOR Legislation: Its Promise and Its Limitations

Even with all that the proposed legislation does to curb litigation and provide legal certainty for the parties to LIBOR-based contracts, economically aggrieved parties may still be financially motivated to sue—sometimes for very large sums of money—and will have legitimate arguments to bring.
8 minute read

New York Law Journal

Mortgage Loan Modifications and Lien Priority

One recent decision issued by New York's Appellate Division, Second Department, though favorable to the senior mortgage lender, highlights the consequences that may result should a lender fail to exercise caution when modifying their mortgage loans. In their Real Estate Financing column, Jeffrey Steiner and Scott Weinberg discuss the decision in "Commodore Factors Corp. v. Deutsche Bank Natl. Trust Co."
7 minute read

Daily Business Review

What Legal Professionals Should Know About Fraudulent Transfers, Solvency Analysis

While the number of bankruptcy cases has been trending down over the past year, and we have seen some positive economic activity, there are also predictions that long-term negative impacts could result in an increasing number of corporate restructurings and bankruptcy filings.
5 minute read

New York Law Journal

The Anti-Money Laundering Act Expands Whistleblower Protections

The recently-enacted Anti-Money Laundering Act significantly increases the potential value of awards for whistleblowers under the Bank Secrecy Act. The challenge for a financial services employer is to establish that discipline against an employee in a compliance role is supported by evidence that the decision was based on the employee's incompetence or other inappropriate behavior, and that any whistleblowing activity he or she engaged in was not a consideration. Philip M. Berkowitz explores the issues in this edition of his Employment Issues column.
9 minute read

More from ALM

More from ALM

Legal Speak is a weekly podcast that makes sense of what’s happening in the legal industry.

Resources

  • The Power of Online Reputation Management For Attorneys: A Critical Tool For Law Firms in 2025

    Brought to you by Erase.com

    Download Now

  • The Role of Evolving Support Structures in Optimizing Legal Talent

    Brought to you by BigHand

    Download Now

  • Corporate Monitorship Advisory Services

    Brought to you by HaystackID

    Download Now

  • AI-Powered Deposition and Medical Record Summaries: Low Risk, High Reward

    Brought to you by Parrot

    Download Now