Managers of Wealth Americas

US regulators seek to limit asset managers’ sway over big banks

Investment groups are alarmed by efforts to curb their influence on governance and strategy at American lenders

IQ-EQ receives five nominations in the HFM U.S. Services Awards 2024

The winners will be announced in New York on September 12.

Chambers HNW 2024 Recognizes Womble Partners in Private Wealth, Art & Cultural Property Law

Published by Chambers & Partners, HNW covers private wealth management work and related specialisms in jurisdictions worldwide, featuring editorial about the leading professional advisers to wealthy individuals and families in each market.

Kirkland Advises KKR on Acquisition of Janney Montgomery Scott

The Kirkland team was led by corporate partners Jennifer Perkins and Colin Zelicof

ACA Survey: Most Advisory Firms Have No Plans To Use AI Tools

Some 64% of advisory firms have no plans to develop or use client-facing artificial intelligence, yet 46% said it was a chief compliance concern, according to the ACA Group's latest survey.

FINRA fines UBS unit $850K for failing to properly monitor customer transactions

In the aftermath, UBS reimbursed approximately $17 million to affected customers, paying the principal plus the amount of appreciation that the third party listed on their statements.

Citi fined $135.6m for ongoing risk management and data governance deficiencies

This order was based on the bank’s unsafe or unsound banking practices

Archegos founder Bill Hwang guilty in multibillion-dollar fraud case

The subsequent collapse of the fund sent shockwaves through the markets and caused $10 billion in losses for Credit Suisse, Nomura, Morgan Stanley and other large financial institutions.

Fed may tweak rule that could save biggest US banks billions

Updating those inputs or "coefficients" would reduce the banks' systemic scores and resulting capital surcharge, said the people who declined to be identified discussing private regulatory issues.

Merrill to Pay $1.5 Million After Brokers Sidestepped Fee Waivers: Finra

Finra said Merrill violated the Securities and Exchange Commission’s Regulation Best Interest

SEC charges Silvergate Capital Corporation, former execs with misleading investors

The firm and two individuals have settled, but CFO will fight to clear his name.

SEC charges Consensys for unregistered sale of securities through its metaMask Staking service

The SEC’s complaint alleges that Consensys engages in the unregistered offer and sale of securities by participating in the distribution of the staking programs and operates as an unregistered broker with respect to these transactions.

SEC, MSRB, FINRA to Hold Hybrid Compliance Outreach Program

The program will provide municipal market participants an opportunity to hear from SEC, MSRB and FINRA staff on timely regulatory and compliance matters for municipal advisors and dealers.

Bedrock Wall Street Rules Threatened by Supreme Court Ruling

Losing deference from the courts cripples the ability of the SEC to oversee the rapidly changing markets

JPMorgan Seeks to Restrain Bank Broker Who Joined Raymond James in Texas

JPMorgan has frequently pursued bank-based brokers who leave for competitors and was criticized in 2022 by a broker who told the court the bank had a “long history of harassing” defectors.

Kaplan Martin, a Boutique Litigation and Advisory Firm Announces Its Launch

Roberta Kaplan, Steven M. Cohen, Mitra Hormozi and Timothy Martin Join Forces to Launch a Premier Civil Litigation and Strategic Advisory Firm

Finra Bars Former RayJay FAs Accused of Selling Away

Advisors Thomas Reyes and Bryan Noonan had been discharged by Raymond James for putting clients in unapproved investments.

Citi's 'living will' flaws manageable but distracting, J.P.Morgan says

Citi has said the lawsuit is "without merit" and vowed to "vigorously defend against it".

US regulators find flaws with major banks’ bankruptcy plans; EU sanctions hit Russian LNG and financial institutions

The regulators said that all four banks must address these issues by July 1 2025

Ontario tribunal rules against Arbitrade Bermuda

Arbitrade infamously promised six years ago to create hundreds of Bermuda jobs in setting up its global headquarters here.

Legal, Regulation & Compliance