legal

Anne Sheehan Named SEC IAC Chairwoman

The U.S. Securities and Exchange Commission’s (SEC) Investor Advisory Committee has a new chairwoman. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Fake Middleman Pleads Guilty, the Landmark 72 Building FCPA Saga

The U.S. Department of Justice (DOJ) got involved in a complex investigation that had a mixture of fraud, money laundering and violations of the U.S. Foreign Corrupt Practices Act (FCPA). The DOJ was able to catch Malcolm Harris who pled guilty before U.S. District Judge Edgardo Ramos to wire fraud and money laundering charges arising […]


SFO Levies Charges in Barclays Qatar Capital Raising Case

On June 20, 2017, the U.K. Serious Fraud Office (SFO) levied charges against Barclays Plc and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance contrary to the U.K. Companies Act 1985. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


U.S. DOJ Hopes to Get $540 Million from Corruption Surrounding 1MDB

The U.S. Department of Justice (DOJ) had filed civil forfeiture complaints int he U.S. Court for the Central District of California seeking the forfeiture and recovery of roughly US$ 540 million in assets associated with an international conspiracy to launder funds misappropriated from 1Malaysia Development Berhad (1MDB). [ Content protected for Sovereign Wealth Fund Institute […]


GPIF Sues Ernst & Young Affiliate Over Toshiba Accounting Scandal

Japan’s Government Investment Pension Fund (GPIF) is pursuing a wide range of legal options to recover damages from Toshiba Corporation’s accounting scandal in 2015. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SHOE DROPS: GM Faces Suit on Alleged Diesel Emissions Cheating

Car manufacturers are under the sword from law firms and regulatory agencies when it comes to diesel nitrogen oxide emissions testing. Nissan, Subaru, Fiat Chrysler, Daimler AG, have all been accused or sued for using methods to dodge emission rules. The first casualty of stemming from the scandals was Volkswagen, which paid a heavy price […]


Some Senators Have National Security Concerns on Foreign Property Investors

Increasingly, sovereign funds, pensions, family offices, state-owned conglomerates, insurance companies and high-net worth individuals from abroad are gradually spending more money into U.S. real estate. Wealth funds have ramped up operations, having invested in properties such as Hudson Yards, the Empire State Building (indirectly) and the Chrysler Tower. The China Investment Corporation (CIC) officially opened […]


Institute Fund Summit 2017 Asia – Singapore Slider 15

Nathan Bear, Partner at Robbins Geller Rudman & Dowd LLP, contributes to the panel, tells the delegates why he got into this industry < PREVIOUS 16 of 20 NEXT > CONTACT INFORMATION Sponsorship Information Carl Linaburg clinaburg(a)swfinstitute.org General Information events(a)swfinstitute.org Membership Information vberretta(a)swfinstitute.org


Institute Fund Summit 2017 Asia – Singapore Slider 7

David Meredith maps out sovereign wealth funds. Stay tuned for Tribbles (Star Trek). < PREVIOUS 8 of 20 NEXT > CONTACT INFORMATION Sponsorship Information Carl Linaburg clinaburg(a)swfinstitute.org General Information events(a)swfinstitute.org Membership Information vberretta(a)swfinstitute.org


Libya Sovereign Fund and Societe Generale Agree to Settle Fraud Case

In a gesture to avert a high-publicity trial, French banking giant Société Générale SA had reached an agreement with the Libyan Investment Authority (LIA) to settle legal disputes regarding bribes and derivatives – thus avoiding a court case in London’s High Court. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


london

Former PIFSS Director General to be Extradited Back to Kuwait Over Corruption Charges

The former executive (Director General), Fahad al-Rajaan, of Kuwait’s Public Institution for Social Security (PIFSS) has been arrested by U.K. authorities. Fahad al-Rajaan had been convicted and charged of corruption and embezzling public money in Kuwait when he was leading PIFSS. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


Citigroup Defeats ADIA in Court Again, SWF Mandated to Pay Legal Fees

The Abu Dhabi Investment Authority (ADIA) had pursued a number of legal avenues which stem from its US$ 7.5 billion bailout of Citigroup Inc. Citigroup had won ADIA over the lawsuit, but ADIA kept pursuing a variety of legal channels. Ultimately, so far, Citigroup has prevailed in U.S. courts. ADIA was represented by Quinn Emanuel […]


Follow the Money – Episode 35

This episode was recorded on March 22, 2017. Rachel and Michael cover JASTA and the potential effects it will have on future investment activity. This episode has a special focus on legal issues and shareholder rights. There is also a debate on ethical investing and the costs of it. Download the Episode CONTENTS 1:05 Shareholder […]


Falcon Private Bank Pivots Away from Fallout of 1MDB Scandal

Zurich-based Falcon Private Bank, which was greatly affected by the fallout of the 1MDB scandal, is now getting a capital injection from Aabar Investments, a unit of Abu Dhabi’s International Petroleum Investment Co (IPIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ADIA Sues Petrobras Thanks to Operation Car Wash Results

Increasingly, sovereign funds are asserting their shareholder rights over listed corporations when it comes to possible material misstatements by firm management, which can drastically impact the value of a company security. Petroleo Brasileiro S.A. (Petrobras), Brazil’s gigantic state-owned oil giant, has been embroiled in a widespread political scandal that brought down the country’s first female […]


Large Group of 9/11 Families Sue Saudi Arabia, JASTA Utilized

It appears the Justice Against Sponsors of Terrorism Act (JASTA) law is being utilized, after the U.S. Congress had overwritten then U.S. President Barack Obama’s veto. Both U.S. Presidents George W. Bush and Barack Obama were hard pressed to not hold the Saudi Arabian government accountable for the September 9/11 attacks for a variety of […]


The U.S. vs The Rest: Litigation Funding’s Local Characteristics

This article is sponsored by Goal Group. Even though the number of class action lawsuits brought to court is growing in mature jurisdictions around the world, the United States is still the largest market for securities and antitrust class action litigation. This is not least due to a number of crucial, and favourable, differences in […]


Lawsuits Pursued by Japanese Asset Owners Mount Against Toshiba

Already, Japan’s Government Pension Investment Fund (GPIF) had indirectly sued Toshiba Corporation, through Japan Trustee Services Bank, Ltd., seeking some ¥13 billion in damages. Electronics giant Toshiba is ensnared in a massive accounting scandal which greatly affected the company’s share price. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


state street

FLEECED: State Street Agrees to Pay to Resolve Fraud Charges

In a serious blow to market and client confidence, Custodial giant State Street Corporation entered into a deferred prosecution agreement and agreed to pay a US$32.3 million criminal penalty to the U.S. Department of Justice (DOJ) to resolve charges that it engaged in a scheme to defraud a number of the bank’s clients by secretly […]


SouthGobi Executes New Deferral Agreement with CIC

On December 20, 2016, SouthGobi Resources Ltd., which owns and operates its Ovoot Tolgoi coal mine in Mongolia, announced the execution of a new deferral agreement with Land Breeze II S.à r.l., a sovereign wealth enterprise of the China Investment Corporation (CIC). This modified a revised payment schedule of US$ 20.7 million of cash interest […]