Managers of Wealth Americas

SEC unveils new ESG fund disclosure and naming requirements

Aims to prevent greenwashing

New York sales tax case regarding art leasing

An Administrative Law Judge initially rejected the petitioner’s claim for a sales tax refund

Proposed rule could push more family offices to lawyer up

The proposal comes amid increased scrutiny of family offices in the wake of the Archegos Capital Management meltdown.

Investor group weighs in on SEC’s planned rules for PE

Jennifer Choi of the Institutional Limited Partners Association says the regulator’s proposal would be a big step forward, though some issues remain

Regulatory Insights – May 2022

Your source for the latest updates from the SEC, DOL and across the industry.

SEC Charges BNY Mellon Investment Adviser for Misstatements and Omissions Concerning ESG Considerations

The SEC’s investigation was conducted by Robert Baker and Michael Moran

SEC: BNY Mellon to Pay $1.5M for ESG Error

The charges come as investment advisors increasingly use ESG metrics to appeal to investors, according to SEC Enforcement Division Deputy Director Sanjay Wadhwa.

Our currency, your problem

So said a former U.S. Treasury Secretary in 1971 to other finance ministers struggling with the soaring dollar. 50 years later, the strength of the greenback is again threatening many financial balances around the world.

Wells Fargo to pay $7m for anti-money-laundering failures

The order also found that, beginning in April 2017, Wells Fargo Advisors failed to timely file at least nine additional SARs due to a failure to appropriately process wire transfer data into its AML transaction monitoring system in certain other situation

Katten Private Wealth Practice Receives Two Law Firm of the Year Awards

Kathryn von Matthiessen and Bonnie Lynn Chmil Also Recognized as Outstanding Individuals

PwC’s Global Economic Crime and Fraud Survey 2022

Protecting the perimeter: The rise of external fraud

Carey Olsen advises Brazilian startup

The Carey Olsen team advising Tractian on the Cayman law aspects of the Series A was led by partner Alistair Russell

AllianzGI to pay $6bn as SEC charges firm and portfolio managers with multibillion fraud

AGI US has agreed to pay billions of dollars as part of an integrated, global resolution

Treasury Announces 2022 National Illicit Finance Strategy

Strategy Provides Roadmap to Close Loopholes Exploited by Criminals and Illicit Actors

The FTC at Full Strength: What to Expect Next

The agency’s authority to craft trade regulation rules covering unfair and deceptive trade practices

US tops financial secrecy ranking as G7 countries upend global progress on transparency

The G7 countries’ undermining of global transparency has further fuelled calls by leading economists for a UN tax convention

Latham & Watkins Advises Carlyly in US$4.2 Billion Acquisition of Mantech

Multidisciplinary team represents Carlyle in acquisition of mission-focused technology solutions and services provider for US defense, intelligence, and federal civilian agencies.

JPMorgan Chase, five other banks will pay $64mln to settle Singapore rate case

"The terms of the settlements are substantively fair, providing considerable relief to eligible class members in exchange for the complete resolution of the action,"

Family Office Considerations Relating to Partnership Audits

Since Family Offices may be in a position of management, this is a particularly sensitive issue for family office professionals.

Goldman Agrees to Settle Suit

Settlement funds will be used to boost compliance at bank

Legal, Regulation & Compliance