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Brazil’s Central Bank Faces Court Scrutiny Over Bank Liquidation

Brazil’s central bank is facing extraordinary scrutiny over its decision to liquidate Banco Master SA, a rare instance of judicial intervention that risks undermining the legal certainty of its regulatory decisions.

By Martha Beck

Malaysia Fines Ex-PM Najib $2.8 Billion for 1MDB, Adds Jail Time

Former Malaysian Prime Minister Najib Razak, already jailed for his role in the 1MDB scandal, faces another 15 years in prison and a fine of 11.4 billion ringgit ($2.8 billion) after being convicted of abuse of power and money laundering in connection with the failed state-run fund.

Paxton’s Exit Leaves Texas Law Firms Wondering What Comes Next

With Ken Paxton (R) chasing a US Senate seat next year, law firms in Texas are left to wonder what his departure from the state attorney general role will mean for them.

Semiannual SEC Filing Won’t Yield Fewer Suits, Just Tougher Ones

A Securities and Exchange Commission proposal offering companies the option to shift to semiannual reporting from quarterly could mean fewer, bigger revelation-related stock drops that prompt investor lawsuits while making litigation tougher in other ways.

BofA Employee Charged With Arranging Drug Gathering in Singapore

An employee of Bank of America was charged in a Singapore state court for arranging a Christmas Eve gathering where controlled drugs were consumed.

Goldman Warns Clients About Outside Law Firm’s Data Breach

Goldman Sachs Group Inc. warned investors in some of its alternative investment funds that their data may have been exposed in a breach at one of the bank’s law firms.

Louis Dreyfus Says CFO Patrick Treuer Dies ‘Unexpectedly’

Louis Dreyfus Co. said Patrick Treuer, chief financial officer and a close associate of the agricultural trading giant’s founding family, died “unexpectedly overnight” at the age of 52.

Fried Frank Hit With Goldman Investment Data Breach Suit

International law firm Fried, Frank, Harris, Shriver & Jacobson LLP failed to adequately safeguard the sensitive personal information of account investments associated with a Goldman Sachs private equity fund, a class action alleged Wednesday.

Element Wins Non-Compete Fight With Squarepoint-Bound Trader

An arbitrator ruled that hedge fund Element Capital Management can enforce a non-competition agreement against former equity markets head Jonathan Dorfman, delaying his move to Squarepoint Capital.

Capital One, Employees Reach $9.6 Million Deal in 401(k) Suit

Capital One Financial Corp. and a group of former employees have agreed to a $9.6 million settlement to end a 401(k) plan proposed class action in which the workers claimed the bank mismanaged its employees’ retirement plan by using forfeited contributions for its own gain.