Managers of Wealth Americas

HSBC, UBS settle U.S. rate-rigging litigation; 10 banks' total payout tops $408 million

The eight earlier settlements have won preliminary approval.

Advisor Licensing is Becoming Much Easier

The approved revamp will also split exams into an entry-level “securities industry essentials” exam and additional exams addressing specific securities and principal licenses, according to the publication.

Stifel's Hiring Push Aims to Thwart DOL Rule Slowdown

The main culprit, he says, isn’t any slowdown in unwinding of forgivable loan packages and other incentives offered by wirehouses and broker-dealers.

Fund manager MFS sued for self-dealing in its 401(k) plans

The plaintiff claims the plans were "loaded" with proprietary mutual funds, and 98% of the investable assets were held in company-affiliated investments

U.S. Banking Group Anticipates Modest Growth in Economy in 2018

The Economic Advisory Committee of the American Bankers Association foresees Federal Reserve rate hikes in the next year.

Trump to nominate investment fund manager Randal Quarles to key Federal Reserve post

Quarles’ nomination has been rumored for weeks.

Investors will soon benefit from reduced charges

This cost makes up the bulk of the expenses that are levied against assets and which cut investors’ overall returns.

HSBC case to provide insights on new US Justice Dept’s approach to banks

It could give an early indication of how the new administration would levy financial penalties.

DOL Urges Court: Uphold Fiduciary Rule Despite Review

The Labor Department is currently reviewing the fiduciary rule, which purports to require retirement account advisors to put clients’ interests first and went into partial effect June 9.

Merrill Lynch salesman describes shock, anger after Shkreli lost $7 million for Merrill on short trade and then threatens firm if it tries to collect

Martin Shkreli allegedly told Merrill Lynch it could absorb the loss on an Orexigen short sale.

Vince Holding Corp. Amends Term Loan and Revolving Credit Facility Agreements

We also expect that this will alleviate the pressures on our borrowing capacity that we have seen from the accelerated terms and prepayment requirements imposed by certain vendors.

Fifty Percent Of Mid-Level Executives In Finance Considering Departure From Current Employer

A perceived absence of a mission-driven ethos within the finance industry was identified as a tipping point to explore alternative career options.

Saba Capital, famed for 'London Whale' bet, to shut London office

A subsequent period of underperformance saw a number of investors pull their money, only for Saba to bounce back and attract fresh capital with a market-beating 3 percent gain in 2015 and returns of 22 percent in 2016, one of the sources said.

UK Litigation Funder Expands in US After Launch Last Year

At Therium's U.S. operations, Weisman joins CEO Eric Blinderman, who left Proskauer last year to launch the financier's American offshoot.

Chinese billionaire portrayed as criminal and hero at trial

"Mr. Ng acted in good faith at all times," Park said.

SEC Said to Scrutinize Hedge Funds’ Handling of Hot IPO Shares

The SEC’s examination comes after it found instances in which firms violated securities laws by directing winning trades to their own employees and favored clients.

ALM First Financial Advisors named Preferred Vendor by Achieva Merger Services

ALM First is a leading strategic partner within the financial industry, providing commission-free, fee-based services to more than 250 institutions across the country.

Combining this year's promotions and new lateral talent, the Firm added 139 partners

Nearly 40% or 31 of the new promotions are women; a market-leading number for any law firm.

Supermodel Kerr hands over $8m in jewellery linked to 1MDB

Australian supermodel Miranda Kerr has handed over $8.1m (£6.4m, €7.2m) worth of jewellery to US authorities that she allegedly received from former boyfriend Jho Low, a person of interest in the 1MDB scandal.

RBC to pay $16.5 mln to clients in regulatory settlement

While having neither admitted nor denied the accuracy of the facts and conclusions of OSC Staff, the RBC Registrants have agreed to the settlement, and intend to compensate clients a total of $21,802,231 including opportunity costs on fees.

Legal, Regulation & Compliance