News & Insights

Several developments in the government’s ongoing investigation of U.S. persons with foreign bank accounts have taken place this month. First, another seven banks have signed non-prosecution agreements pursuant to the Department of Justice’s “Swiss Bank Program.” Second, indicative of the government’s desire to expand its inquiry beyond Switzerland, a federal court in Miami approved an IRS request to serve a so-called “John Doe summons” to seek records of Belize Bank International Limited and Belize Bank Limited’s correspondence accounts at Bank of America, N.A. and Citibank, N.A.

The Financial Crimes Enforcement Network (“FinCEN”), recently proposed rules that would require certain investment advisers to establish anti-money laundering (“AML”) programs.  FinCEN is a bureau of the U.S. Department of the Treasury charged with monitoring the financial system for illegal activity, money laundering, and national security threats.

WASHINGTON, D.C. – August 19, 2015 – Best Lawyers announced the 2016 Best Lawyers in America list. Guerra & Partners is pleased to announce that one of the firm’s attorneys were named to the 2016 Best Lawyers list.

Tampa, FL – Guerra & Partners is pleased to announce that two of its lawyers have been selected for the exclusive list of 2015 Super Lawyers and Rising Stars. The attorneys named and their designated practice area include:

TAMPA, FL, June 17, 2015 — The IRS recently reminded taxpayers with foreign assets and accounts of several upcoming filing deadlines. The most well-known of these reporting requirements is the FBAR, or Report of Foreign Bank and Financial Accounts, which must be filed with the Financial Crimes Enforcement Network (FinCEN) by June 30th. It is important to note that the FBAR filing requirement is separate and distinct from the taxpayer’s obligation to disclose their interest in a foreign account on Schedule B of their federal income tax return.

Tampa, FL, May 7, 2015 — The Hillsborough County Bar Association’s Securities Section hosted a luncheon on April 22, 2015 at the Chester H. Ferguson Law Center in Tampa, Florida. Fifty people attended the presentation, titled “Lunch and Learn: Q&A Session with Our Decision Makers.” Participants had an opportunity to hear from, and speak with, those who decide securities matters in state, federal, and appellate court, as well as in arbitration.

The Hillsborough County Bar Association’s Securities Section will host a luncheon on April 22, 2015 at the Chester H. Ferguson Law Center, 1610 North Tampa Street, Tampa Florida 33602 from noon until 1:30 P.M. The event, ” Lunch and Learn: Q&A Session with Our Decision Makers,” will provide an opportunity to hear from, and speak with, those who decide securities matters in state, federal, and appellate court, as well as in arbitration.

The Hillsborough County Bar Association’s Securities Section hosted a luncheon on March 4, 2015 at the Chester H. Ferguson Law Center in Tampa, Florida.  Fifty people attended the presentation, titled “Pinstripes and Prison Stripes: Criminal Implications of Securities Enforcement.”  Representatives from criminal enforcement agencies answered questions about recent enforcement efforts in the securities industry and issues impacting civil practitioners and industry members.

For the third consecutive year, Guerra & Partners is pleased to announce it is supporting Bay Area Legal Services as a Sustaining Law Firm donor. Bay Area Legal Services provides free civil legal services to qualified and low-income residents and nonprofits throughout the Tampa Bay area. Last year, Bay Area Legal Services helped and educated more than 25,000 individuals, families, and community groups.

On December 10, the Second Circuit Court of Appeals issued its widely-anticipated decision in the appeal of the insider trading convictions of Todd Newman and Anthony Chiasson. The convictions were among dozens obtained in recent years by Preet Bharara, the United States Attorney for the Southern District of New York, who has made cracking down on insider trading one of his highest priorities.  In a decision that sharply rebuked the prosecutorial strategies employed in cracking down on insider trading, the Second Circuit concluded that a higher standard was required to hold individuals liable for insider trading – particularly those individuals removed by several degrees from the original “tipper.”  Ruling that the jury instructions given in the Chiasson and Newman cases was flawed, the Second Circuit not only unanimously reversed the convictions, but also dismissed each case with prejudice.