Managers of Wealth Americas

Former JPMorgan analyst arrested for insider trading

A former JPMorgan Securities analyst was arrested and charged in an alleged insider trading scheme that netted more than $600,000.

FINRA Fines Charles Schwab & Co., Inc. $2 Million for Net Capital Deficiencies

The deficiencies arose because on each of those dates, Schwab had inflows of cash that exceeded the amounts it could invest with existing facilities, so instead, Schwab transferred $1 billion to its parent company for overnight investment.

Two Swiss Banks Reach Resolutions under Justice Department's Swiss Bank Program

Two more Swiss banks have reached resolutions with the Justice Department under its Swiss Bank Program.

CFPB, NY Securities Regulator Sue Companies Over Pension Advance Scheme

According to the complaint filed in California federal court, from 2011 through December 2014 the companies conned customers

IRS Data Breach Much Larger Than Initially Reported

Tax agency reveals now roughly 600,000 accounts thought to be affected.

Ex-JPMorgan banker to plead guilty in embezzlement case-hearing

The lawyers asked Torres to schedule another hearing on Sept. 30

Barclays must face U.S. class action over Libor

Class actions make it easier for plaintiffs to recover larger sums at lower costs than if they sue individually.

Ex-Wilmington Trust president makes first court appearance

As a condition of his release, Harra was ordered to post a $25,000 unsecured bond and surrender his passport

A big bank got fined $15 million for giving internships to the 'less than exemplary' kids of Middle Eastern officials

An SEC investigation found that BNY Mellon did not evaluate or hire the family members through its existing, highly competitive internship programs that have stringent hiring standards and require a minimum grade point average and multiple interviews.

SEC fines RIA $2.8 million and bars owner in 'Madoff of Main Street' case

Holds owner of Total Wealth Management, Jacob Cooper, liable in case where losses are expected to total as much as $44 million

LLCs, Private Jets Don’t Always Fly Smoothly

But that’s where it gets tricky. Wealthy folks typically run afoul of the FAA’s rules because they are unaware of the rules between the two forms of licenses.

FinCEN: Precious Metals Dealers Using the Blockchain Need Licensing

FinCEN has ruled that businesses using Bitcoin’s blockchain to transfer precious metals are considered money transmitters.

Former forex traders challenge Citi over dismissal

The authorities found that Citi and other banks attempted over a period of almost six years to have rigged key foreign exchange benchmarks, including at least one provided by central banks.

The $100 Million Feud: Kramer vs. Perella Weinberg

Kramer is widely regarded as one of Wall Street's top bankers in the business of corporate restructurings and bankruptcies

Citigroup Affiliates to Pay $180 Million to Settle Hedge Fund Fraud Charges

CGMI and CAI failed to control the misrepresentations made to investors as their employees misleadingly minimized the significant risk of loss

N.J. hedge fund manager cleared of Carter's insider trading charges

It came as prosecutors are facing increasing challenges in their ability to pursue insider trading cases

Here's What's Next for DoL Fiduciary Rule

The wide range of participants at the hearings was further testament to the breadth of its potential impact

Edward Jones Pays $20 Million to Settle Muni Price Fraud Charges

The regulator claims, because of the pricing-related fraud, Edward Jones customers paid at least $4.6 million more than they should have when purchasing new bonds

Scott+Scott Announces Five Additional Settlements Totaling More Than $2 Billion in FX Litigation

As the complaint details, the conspiracy affected dozens of currency pairs

Nine banks agree to pay $2bn to settle forex rigging suit in the US

Banks accused of foreign exchange rate rigging have agreed to pay major sums of money in settlements to investors

Legal, Regulation & Compliance