Managers of Wealth Americas

With Watson Financial Services, IBM Launches Cognitive Era of RegTech

First-Generation Cognitive Solutions Trained by Promontory Experts

White House calls for rollback of banking regulations

A sensible rebalancing of regulatory principles is warranted in light of the significant improvement in the strength of the financial system and the economy.

Bank of America Pays Nearly $2M to Settle Lawsuit

The Bank of America will pay $1.9 million to settle a government lawsuit alleging that it took too long to inform customers that their phone calls were being recorded.

Big banks to get away with risky bets after Dodd Frank repeal

Some regulators have acknowledged the complexity of the rules, though critics say banks are exaggerating

Canada To Amend Voluntary Disclosure Program

The Government's proposed changes narrow the eligibility for VDP and impose additional conditions on applicants.

Deutsche Bank reaches $170 million Euribor-rigging settlement

Investors accused banks of conspiring to rig Euribor and fix prices of Euribor-based derivatives from June 2005 to March 2011 to profit at their expense, in violation of U.S. antitrust law.

RBS in advanced talks over £3.5bn-plus mortgage mis-selling fine

RBS and the FHFA are in detailed talks about a multibillion-pound fine that could be announced within weeks, Sky News learns.

Supreme Court imposes five-year limitation on SEC disgorgement

The Supreme Court chronicled the evolution of disgorgement in SEC enforcement proceedings, finding that, at the inception of the agency, the only stated remedy available was an injunction.

Fiduciary rule is creating concern for some, opportunity for others

Smaller adviser firms and solo practitioners that rely largely on a commission-heavy brokerage business may struggle to adapt to the new changes in comparison to their larger counterparts with expansive networks, more resources and large compliance teams

US Fed fines Deutsche Bank $41m for AML problems

The bank also must enlist a third party to conduct a comprehensive review of BSA/AML compliance, customer due diligence and foreign correspondent banking activity.

Ex-HSBC Banker Scott Arrested in U.K. in American Currency Case

U.S. has accused Scott, Johnson of using inside tip on trade

DOL Takes First Step to Fiduciary Rule Review

The move marks the very beginning of a formal review and rule-making process, but it doesn’t automatically lead to a revamp of the original rule, the newswire writes.

When Robos Go Bad

Tom Baker, professor at the University of Pennsylvania Law School, says robo advisors are not immune from conflicts of interest.

Ameriprise Drops Hundreds of Funds Offered to Brokerage Clients

Advisors will no longer be able to offer clients hundreds of investments, but few assets managed by the brokerage will be affected.

Fed gives extension on complying with part of Volcker rule to three banks

The rule, part of the 2010 Dodd-Frank Wall Street reform law, limits the types of trading banks can conduct with their own money, as a way to curb speculation in financial institutions.

Mexico: Regulations for Capital Repatriation 2017

Please note that the repatriation is about previously undeclared assets, since taxpayers are only forced to pay the mentioned flat rate of amounts that have not paid the corresponding Mexican tax income.

FINRA Hearing Panel Bars Registered Representative For Failing To Disclose Private Securities Transactions Totaling $100 Million In EB-5 Investment

As noted in the decision, by the end of 2013, the offering was fully subscribed with all partnership units sold to 200 different investors contributing $500,000 each, totaling $100 million.

Legal, Regulation & Compliance