Managers of Wealth Americas

HSBC risks losing US banking licence as pressure mounts over Panama Papers probe

That could lead to any fines being paid to American authorities and HSBC could even lose its right to operate in the country.

Citigroup’s ‘Living Will’ Receives Passing Grade From Regulators

Plans from other big U.S. banks receive harsher assessments, making Wall Street firm arguably the biggest winner of the review

HSBC Bank USA Announces Settlement with OCC Related to Legacy Credit Card Add-on Products

HSBC Finance Corporation will pay a civil money penalty of $35 million to the OCC

Major brokers JLT, Willis in $40 million settlement

In a statement to the London Stock Exchange, JLT said that the two parties had reached a settlement as their case was due to be heard in the High Court this month.

U.S. Authorities Aim For Guilty Plea From Och-Ziff Over Bribery Allegations: WSJ

The U.S Justice Department is in talks with hedge fund Och-Ziff Capital Management Group LLC over a possible criminal guilty plea in relation to a five-year international bribery investigation

Wells Fargo Bank Agrees to Pay $1.2 Billion for Improper Mortgage Lending Practices

Wells Fargo Bank Admits That It Certified that Loans Were Eligible for FHA Mortgage Insurance When They Were Not, and That It Did Not Disclose Thousands of Faulty Mortgage Loans to HUD

Jamaica & U.S. co-host public-private dialogue on Correspondent Banking

Participants pledged to continue cooperating, both bilaterally and multilaterally, to set realistic expectations of fellow stakeholders and prioritize transparency and information sharing.

With Mafia-busting law, feds indict payday lending pioneer

The 17-count indictment pegs revenue for 18 Hallinan-owned loan companies with names that include Instant Cash USA, My Next Paycheck, and Your Fast Payday at $688 million between 2008 and 2013. Read more at http://www.philly.com/philly/news/20160408_With

FINRA’s Senior Hotline Results in $1.25 Million in Reimbursements

FINRA’s hotline has received 4,000 in-bound calls from people ranging in age from 22 to 100.

Handler Thayer Named 2016 Best Legal Team By Family Wealth Report

One of only three firms to be shortlisted in the legal category, this award is yet another milestone in the firm's drive to be the global leader in the highly competitive private client space.

BMO CEO defends Canadian banking sector's anti-money laundering practices

Media reports claimed the Royal Bank of Canada and its subsidiaries used the Panamanian law firm to set up more than 370 shell companies.

FINTRAC imposes an administrative monetary penalty on Diamond Exchange Toronto Inc., in Toronto, Ontario

Our compliance efforts are meant to ensure they fulfill their legal obligations

Canadian bank fined $1.1M by anti-money laundering agency

First time that organization known as Fintrac has penalized a bank

Fox Rothschild is sanctioned $25K for alterations in discovery documents

Fox Rothschild represented clothing retailers from China accused of counterfeiting copyrighted jean designs; the firm’s clients won at trial.

Nomura Warned Against Lying After Jefferies Trader Charged

Three former Nomura traders are accused of increasing the spread on their trades and generating about $7 million in additional revenue by lying about how much they paid for debt.

Former Senior Executives of Global Financial Services Company Charged in Scheme to Defraud Clients through Secret Trading Commissions

The secret conversations and backroom plotting laid bare in today’s charges paint a vivid picture of a brazen fraud

Legal, Regulation & Compliance