Managers of Wealth Americas

SEC amends rules to update and simplify disclosure requirements

The amendments, some of which are technical in nature, touch a variety of disclosure requirements impacting registration statements and current and periodic reports.

Dubai Chamber opens representative office in Argentina

Announcement comes ahead of 3rd Global Business Forum Latin America and follows office openings in Panama and Brazil

Why Aren’t Hedge Funds Required to Fight Money Laundering?

The push to regulate hedge funds and similar investment firms took off after the Sept. 11 attacks, when Congress passed the Patriot Act.

FCA and SEC sign updated supervisory cooperation arrangements

These MOUs will come into force on the date EU legislation ceases to have direct effect in the United Kingdom.

UK’s top fraud prosecutor backs U.S.-style plea bargaining deals

Retailer Tesco and aero-engines group Rolls-Royce agreed DPAs with the SFO in 2017

Vistra Achieves SOC 1 and SOC 2 Accreditations for Strong Internal Controls

The accreditations are objective proof of our strong control environment.

CRA executes search warrants on Vancouver properties in tax evasion case

'The net is tightening,' says National Revenue Minister Diane Lebouthillier

Better surveillance needed to beat spoofing, argues regtech exec

“An obvious spoofing case is communications asking to buy, but the trader first introduces orders to sell – in order to manipulate the market – then to buy, before then removing the sell order and letting the buy being executed at a lowe

IRS issues interim guidance on excess compensation tax owed by tax-exempt organizations

The new tax is effective for 2018 and subsequent taxable years.

The Colony Group’s Acquisition Of Steinberg Global Asset Management

The businesses are set to close their transaction on May 1, 2019.

U.S. Supreme Court safeguards investor-protection laws

Writing on behalf of the court, liberal Justice Stephen Breyer said perpetrators of securities fraud could escape liability if the law were interpreted too narrowly.

FCA fines Goldman Sachs £34.3m for Mifid breaches

Accurate and complete transaction reporting helps underwrite market integrity and supervise firms and markets. In particular, transaction reports help the FCA identify potential instances of market abuse and combat financial crime.

Court Approves $13.8 Million Settlement In Unwanted Loan Modifications Class Action

The approved settlement requires the bank to pay $13.46 million into a settlement fund for nearly 6,000 class members.

Ex-UBS broker first to be sentenced in fraudulent Puerto Rico bond sales scheme

I'm not here to blame anyone else

Canada moves to criminalise 'reckless' behaviour by advisers

This plan includes and amendment extending the offence of money laundering to include 'recklessness' as an alternative criterion for prosecution.

Citigroup Faces $1.2m Fine in Japan over Alleged JGB Manipulation

Based on its findings, the SESC made a recommendation to the Prime Minister and the FSA (Financial Services Agency) commissioner that an administrative monetary penalty payment order should be issued in regard to the alleged market manipulation.

Los Angeles Lateral Hiring Frenzy Is Not Slowing Down

Firms from outside of California continue to show interest in growing their LA presence.

Billionaire Michael Steinhardt accused of sexual harassment in NYT report

The former hedge fund founder denies touching anyone inappropriately.

Allston hedge fund manager gets lengthy sentence in Ponzi scheme

He told investors the fund was “earning substantial returns,” but it was actually “earning substantial losses,” by 2014, according to the statement.

Goldman Sachs to Cut 65 Jobs from its NYC Offices

The firm is eliminating 10 staffers in the commodities division, representing about five percent of the unit’s workforce

Legal, Regulation & Compliance