Managers of Wealth Americas

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.

Broker-Dealers Call for End to Regulation by Enforcement

A regulation by enforcement culture encourages broker-dealers to “always be on the defense, she added.

In latest bonus clawback, Barclays to get $450K from adviser

The deal pushed arbitration winnings this year by Barclays

US banks pass first round of annual stress tests

Clean bill of health from Federal Reserve opens door to increased shareholder payouts

U.S. regulators, lawmakers support Volcker rule revamp at hearing

We could have that group regulated one way and have everyone else regulated less, a lot less.

IT Priorities 2017 survey: Compliance initiatives in full throttle

In a recent interview with SearchCIO, Sculley said meeting industry compliance rules can help offset the numerous data security threats facing modern companies.

Legal Issues Making It Hard For Wells Fargo To Regain Customer, Investor Confidence

This benefits the bank in the long run due to the jump in interest payments over the longer loan period.

Less Stressful Tests Seen Boosting U.S. Bank Payouts $30 Billion

The banks being tested will return $121 billion to shareholders in the form of dividends and share buybacks over the next four quarters

Legal, Regulation & Compliance