Managers of Wealth Americas

Former Wells Fargo, LPL Advisor Pleads Guilty in $626K Fraud

Mario Rivero pleaded guilty in New Jersey federal court to charges of wire fraud and securities fraud.

FINRA Suspends Two NY Reps for Reg BI Violations

Two brokers with the firm Laidlaw & Co. were penalized for excessive trades that were unsuitable for clients.

In court, Elon Musk doubles down on 'driving factor' behind Tesla 'funding secured' tweet

The billionaire testified for a second day about his 2018 tweet to take the company private.

FINRA Fines Wedbush $975K Over Trade Supervision Lapses

In a settlement, FINRA said the firm mistakenly believed that third-party b/ds executing the trades were responsible for spotting potential market manipulation.

Greenwich businessman fined $100K by Connecticut Banking Commission for investment fraud

The companies were all found to have continued offering and selling unregistered securities even after hearings and uncontested cease and desist orders.

Wall Street money manager is suing his ex wife for $7 million after he said she sent messages to his work email claiming he hired a 'hooker' and had a 'huge pile of STD bills'

A Wall Street money manager said his wife accused him of having STDs in a lawsuit.

Brazil and Argentina eye a common currency similar to the euro, with Latin American nations invited to join

Brazil’s agreement was no more than a nod for talks to take place, the person said.

Finma License Gives Arve Asset Management a Boost

Managing director Michel Fest said the company can now celebrate the two important milestones with the Finma authorization and the acquisition of the fund.

Goldman staff brace as global jobs cull begins

The cuts began in Asia on Wednesday, where Goldman completed cutting back its private wealth management unit

Brazil: Once the dust settles, market focus will return to economic policies

From an investment perspective, although these unfortunate events of violence may make Brazilian assets volatile in the near term, we expect any impact to be short-lived.

Parallel Advisors Partners with Golden Gate Capital on Recapitalization

Strategic Investment by Golden Gate Capital Will Accelerate Organic Growth and M&A Strategy, Including Acquisition of AUTUS Asset Management

SEC Charges Former BlackRock Portfolio Manager with Undisclosed Conflict of Interest

Robertson consented to the entry of the SEC’s order finding that he violated Section 206(2) of the Investment Advisers Act of 1940.

CIBC Ordered to Pay $848 Million Damages to Cerberus, Will Appeal

Banks struggled during and after the financial crisis to contain their exposure to mounting defaults and falling securities prices as the U.S. housing market collapsed and credit conditions tightened.

FTX Founder Expected to Plead Not Guilty

The fallen crypto exchange’s former chief executive faces two wire fraud charges and six conspiracy charges, including money laundering and compliance finance violations, which total a maximum of 115 years of imprisonment, if convicted.

Vanguard hit with class action

In December 2020, Vanguard reportedly lowered the minimum requirement for its institutional funds to $5m, so retail clients could move over to the cheaper institutional funds.

Argentina's central bank to mull rate cuts in early 2023 -source

Argentina's Leliq interest rate currently stands at 75%, up from 38% at the end of 2021.

Brazil central bank to roll over currency swaps expiring in February

The central bank usually seeks to provide currency hedging and maintain liquidity conditions to the market with its rolling policy.

Linklaters advises DKSH on its acquisition of DNIV Group in Singapore

The Linklaters team was led by Singapore-based corporate partner and global co-head of TMT Niranjan Arasaratnam.

Bank regulatory agendas in 2023 include capital requirements, resolvability

The Federal Reserve's vice chair for supervision, Michael Barr, said in September that he would address capital requirements this fall, but the highly anticipated details are yet to be seen.

First Sound Bank Announces Termination of BMTX Merger

BMTX recently signed a letter of intent (LOI) with a new sponsor bank and is working towards a transfer of deposits to the new sponsor bank in the first half of 2023.

Legal, Regulation & Compliance