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[Audio] Episode 319 -- Deep Dive into SCG Plastics' $20 Million Settlement with OFAC for Violations of the Iran Sanctions Program

JD Supra: Mergers

From 2017 to 2018, SCG “caused” U.S. financial institutions to process $291. By: The Volkov Law Group

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Second Circuit Adopts "Transfer-by-Transfer" Approach to Bankruptcy Code's Safe Harbor for Securities Contracts Payments

JD Supra: Mergers

883 (2018), that a debtor may itself qualify as a "financial institution" covered by the safe harbor by retaining a bank or trust company as an agent to handle payments, By: Jones Day Supreme Court suggested (but did not hold) in Merit Mgmt. FTI Consulting, Inc.,

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Citi promotes from within for newly created global head of FX sales role

The TRADE

The communication, sent from global head of foreign exchange, Flavio Figueiredo, clarifies that the newly created role “brings together FX corporate and financial institutions sales”. Hewson has been with Citi for 20 years, assuming the global leadership of digital FX solutions in 2018 before becoming head of EMEA CSS in 2021.

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Reviving Distressed Assets: The Business Model of Asset Reconstruction Companies

Wizenius

An Asset Reconstruction Company (ARC) is a specialized financial institution that acquires non-performing assets (NPAs) or distressed assets from banks or financial institutions at a discounted price. After acquiring the company, JM Financial ARC worked to restructure its debt and improve its operations.

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Morgan Stanley to Pay $249 Million in Block Trading Investigation

The New York Times: Banking

Federal prosecutors found at least one employee at the Wall Street firm had committed deceptive practices in handling trades of large blocks of stock from 2018 to 2021.

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Southern District Of New York Denies Claims For Investment Banking Fees, Holding That The Engagement Terminated And The "Agreement To Agree" Was Unenforceable

Shearman & Sterling

On August 10, 2018, Judge Jesse Furman of the United States District Court for the Southern District of New York denied claims for advisory fees brought by investment bank Stone Key Partners LLC (together with Stone Key Securities LLC, "Stone Key") against its former client, Monster Worldwide, Inc. ("Monster").

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Goldman Sachs managing director of 18 years joins AccessFintech to head up buy-side sales and relationships

The TRADE

“AccessFintech has made remarkable strides in a short period of time, with significant success in developing a platform engineered to address the challenges faced by financial institutions in data collaboration and insights. Since the Synergy Network reached critical mass, buy-side adoption has been experiencing exponential growth.

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