Managers of Wealth Americas

Asset managers back U.S. plan to limit stock exchange rebates

Southeastern Asset Management Inc, in a letter sent to the SEC and also signed by 21 other buy-side firms, laid out why it supported the program.

Bank Notes: After buying stake in Navient, hedge fund wants board seat

Canyon, which has more than $20 billion in assets, said in its filing that it discussed a vacant seat on the Navient board and the financial performance of the company.

Buckhead Investment Partners Rebrands Itself to Become BIP Wealth

The firm consists of 24 team members, including 11 advisors reflective of nearly 150 years of combined wealth-management experience.

3 advisory firms to pay $15M in SEC share-class crackdown

PNC and Geneos were also charged with further violations including failing to disclose conflicts of interests surrounding compensation they received from third parties, the SEC says.

US pension funds in CBA class action

Four US pension funds are on board as Commonwealth Bank faces another class action related to the lender's money-laundering scandal.

Macro Selects Maitland To Provide Fund Administration Services

Intellectual property investment fund to leverage Maitland’s automated technology

Morgan Stanley Hit With $9 Million Suit Over Site Accessibility

The lawyer representing him in the case tells AdvisorHub Rizzi had several large accounts with the wirehouse, brought up specific complaints about the site’s inaccessibility and even offered to help free of charge, but was ignored.

Three Firms Charged for Selling High-Priced Share Classes

RIAs charged by SEC over excessive fees, financial illteracy persists and an Oregon advisor is accused of a Ponzi scheme.

Canada and South Africa Continue to Meet Requirements for Endoresement

As a result, there will be no disruption to EU registered credit rating agencies’ ability to endorse credit ratings from these jurisdictions following the entry into force of the new requirements.

Steve Cohen beats $8B suit alleging he tried to ‘kill’ insurer

Charges against Kynikos and Third Point were previously dropped but the case against SAC was revived last April.

Merrill Lynch Gives Up Fight Against Former Advisors’ Right to Arbitrate

Merrill Lynch has dropped nine federal court cases it filed against former financial advisors to prevent them from arbitrating claims against the firm.

US Supreme Court declines to hear FATCA case

The US Supreme Court on Monday declined to hear a challenge to the Foreign Account Tax Compliance Act, which had been brought by a group of American expatriates and led by Kentucky Senator Rand Paul, who had argued that the 2010 legislation violated their

SEC charges fintech company founder with scheme to defraud investors

The Securities and Exchange Commission has charged Michael Liberty, the founder of the fintech startup now known as Mozido Inc., with a scheme to trick hundreds of investors into investing in his shell companies instead of Mozido.

Morgan Stanley to Face Suit from Fired FA in Fed Court

Morgan Stanley fired Schmell Oct. 31, about two weeks before the publication of his memoir that detailed how he got sober prior to joining the wirehouse, according to the New York Post.

HSBC Will Pay $100 Million to Settle Libor-Rigging Lawsuit

Investors claimed HSBC colluded with banks to reduce payments

Estate and Tax Planning Use of Trusts for Qualified Plan Assets

The goal is to enable the trustee to defer income taxes on the benefits while coordinating the requirements of the client, the trustee, the plan administrator and the IRS.

SEC's crypto hedge fund probe is healthy for the industry

A hedge fund is essentially the only viable fund management vehicle for crypto investing, and it will probably be that way for some time, as digital assets are unlikely to fall within the purview of mutual funds or traditional money managers for the near

Legal, Regulation & Compliance