Due Diligence Industry News as of June 16th

There is a lot of buzz going on with regards to due diligence processes all over thw world. Here’s what you need to know:

Seward & Kissel Says Due Diligence Was Client’s Job – Law360 (subscription)

Seward & Kissel Says Due Diligence Was Client’s Job – Law360 (subscription) Law360, New York (July 14, 2017, 10:05 PM EDT) — Seward & Kissel LLP told a New York federal judge on Friday that its role in helping a client sell his energy efficiency service company did not include due diligence on the financial state of the buyer …

FCA fines compliance boss £75k over due diligence failings – Citywire.co.uk

FCA fines compliance boss £75k over due diligence failings – Citywire.co.uk The Financial Conduct Authority found that David Watters had failed to exercise due skill, care and diligence in his role of compliance officer responsible for transferring £12.7 million in client funds. Gary Dixon, a partner at compliance consultancy …

Banks mum over millions in costs from stronger due diligence checks – MaltaToday

Banks mum over millions in costs from stronger due diligence checks – MaltaToday Under the new Europe-wide rules, not just PEPs but also family members and business associates, will come under closer scrutiny by banks and financial services providers: opening a bank account will now be subject to enhanced due diligence measures.

Center City due diligence report found satisfactory by city – The State News

Center City due diligence report found satisfactory by city – The State News The City of East Lansing has approved the due diligence report for the multi-million dollar Center City District redevelopment project, clearing the way for developers to begin securing further financing for the project. “We did a review of the letter …

Why forensic due diligence is the need of the hour – VCCircle

Why forensic due diligence is the need of the hour – VCCircle The term due diligence broadly means ‘required carefulness’ or ‘reasonable care’. It became a specialised legal term under the US Securities Act 1933, where it has been defined as a ‘reasonable investigation’. While financial, tax, commercial, and …

Taking Due Diligence from Tedious Task to Money Maker

Taking Due Diligence from Tedious Task to Money Maker Real estate delivers better returns than the stock market does, but modeling returns requires critical thinking and a lot of due diligence. The better our due diligence, the better our models, the greater the access to capital. What makes commercial real …