Managers of Wealth Americas

Charlotte wealth adviser poached ultra-rich clients from Vanguard, lawsuit claims

Matthew DeAntonio, the attorney representing Snipes and Topsail, declined a request for comment from The Charlotte Observer on Friday.

U.S. banking stress indicator could worsen after Fed hike

The Fed raised rates by 75 basis points on Wednesday, its biggest increase since 1994, and expectations of more

Carey Olsen advises Brazilian start-up Destaxa on seed funding round

Carey Olsen's corporate team in the Cayman Islands have advised Brazilian payments platform Destaxa on its US$3.1 million seed funding round.

Mayer Brown expands Banking & Finance practice with Benjamin Snyder in New York

“Our clients will benefit from Ben’s ability to navigate the changing landscape of the syndicated leveraged finance market and capitalize on the upward trend in private lending.”

SEC investigating Goldman Sachs AM over ESG claims

The agency is examining ESG funds within the bank's asset management arm as part of a civil investigation

Tesla investigation deepens after more than a dozen US ‘Autopilot’ crashes

Regulators to look with enhanced scrutiny after cars with driver-assistance function crashed into parked emergency vehicles

Finra Sidelines Ex-Merrill Broker Who Managed $2-Billion Florida Team

Sonville also in 2018 “completed and submitted to the firm a compliance questionnaire in which he falsely stated that he had not loaned money to any customers,” the Finra letter said.

As Bank of Canada sprints to neutral, bets of recession climb

A strong, front-loaded assault from the Bank of Canada will slow domestic demand and should help keep rising inflation from turning into a price spiral, economists said.

KKR invest in Apexalanytix

The transaction is expected to close in the second half of 2022, subject to regulatory approvals and other customary closing conditions. Financial terms of the transaction were not disclosed.

BIS Revises Export Controls on Cybersecurity Items Used for Malicious Cyber Activity

As discussed in our prior Legal Update, the interim rule implemented new controls on “intrusion software”2 that balanced US foreign policy and national security concerns with the need for legitimate cybersecurity transactions

First Financial Bank Eliminates and Reduces Overdraft Fees

First Financial's Credit Achiever loan and secured credit card both allow clients to make purchases from pre-funded accounts so clients can improve their credit scores.

CI Global Asset Management Claims Compliance with the Global Investment Performance Standards

Along with the additional step of undergoing verification by an independent third party, this was a significant project for a large asset manager such as CI GAM.

U.S. Treasury yields nudge higher ahead of jobs data

Data on Thursday showed private sector employment rose by just 128,000 in May, payroll processing firm ADP reported Thursday.

SEC Proposes Amendments to Rule Governing Fund Naming Conventions, Including Use of ESG Investing Practices

Depending on the circumstances and the type of fund name, an 80% Investment Policy may be fundamental or non-fundamental.

BDO Enchances Commitment To Audit Quality

Former PCAOB Regulator Joins Audit Leadership Team

BofA, UBS, Others Paying $91 Million to End Sibor Antitrust Case

Counsel for the investment funds leading the case will seek legal fees of up to $51.8 million

Carey Olsen advises Brazilian fintech

The Series A funding round was led by venture capital firm Canaan

The first ESG-related settlement by the SEC

The case is another proof of concept after the SEC launched its dedicated greenwashing taskforce last year.

US SEC Proposes Rules Regarding ESG for Certain Funds and Advisers

The amendment also seeks to clarify the rule’s application to derivatives investments by stating that, in applying the 80 percent requirement, a fund should use a derivative investment’s notional amount and not its market value.

UBS Must Pay Clients $1.4M Over YES Options Strategy

The causes of action related to UBS’s Yield Enhancement Strategy (YES), a managed-account options strategy product.

Legal, Regulation & Compliance