Managers of Wealth Americas

Goldman Agrees on 1MDB Shareholder Settlement

In 2012, Goldman issued $6.5 billion of 1MDB bonds which generated $600 million in fees.

Legislators and Council of Institutional Investors Voice Support for SEC Cybersecurity Proposal

One commenter cautions that public reporting could unintentionally give criminals access to sensitive information.

They Don’t Know What They are doing

What’s even more intriguing is the fact that two members of the committee voted to leave the policy rates unchanged, while three other members were in favour of raising the rates more substantially.

SEC Extends Comment Period for Proposed Rules on Climate-Related Disclosures

The public comment period for the proposed rulemaking "The Enhancement and Standardization of Climate-Related Disclosures for Investors,"

"open banking" rule bogged down by privacy concerns

Such advocates say open banking will make it easier for non-banks like technology companies to compete with traditional financial institutions

Three reasons why odds of US recession are high

A hoped for soft economic landing seems unlikely as the Federal Reserve seeks to restore price stability.

US FinCEN Warns Financial Institutions About Activities of Kleptocracies and Foreign Corruption

This Legal Update summarizes some of the key points that FinCEN highlighted to help financial institutions identify potential indicators of kleptocracies and corrupt foreign public officials.

Credit Suisse sued in U.S. over alleged business related to oligarchs

The law firm alleged disclosure shortcomings around a securitisation deal.

SEC proposes expansive climate-related disclosure rules

Under the new rules, companies would be obligated to present sweeping and detailed climate-related disclosures in their annual reports and registration statements.

Medley Management and Former Co-CEOs to Pay $10 Million Penalty for Misleading Investors and Clients

Settlement Structured to Expedite Payment to Bondholders Through Related Bankruptcy Proceeding

Four Charged In Connection With Multi-Billion Dollar Collapse Of Archegos Capital Management

Sung Kook (Bill) Hwang – the Founder and Head of Archegos – and Three Others Charged with Racketeering and Fraud Offenses Related to Market Manipulation Scheme

SEC Proposes Broad Emissions Disclosure Rules

The proposed rules cover information provided to investors related to greenhouse gas emissions and climate change risks

Bank of America blocks funds of Russian Consulate General in New York: Russian diplomat

Earlier in the day, Russian Ambassador Anatoly Antonov said that Bank of America closed the accounts of two Russian consulates general in Houston and New York.

Bankers defend fees and fairness

The bankers allege that the bureau has already concluded that the financial services market is not competitive, and that fees are hidden and hurt consumers.

Credit Suisse's U.S. Pension Business Under Threat

Institutions or individuals that manage pensions overseen by the Labor Department are required to get permission to continue operations in the event of certain criminal convictions.

New Laws Targeting Assets of Russian Oligarchs: The U.S. Announces Task Force KleptoCapture and the Kleptocracy Asset Recovery Rewards Program

Task Force KleptoCapture will operate out of the Office of the Deputy Attorney General, but will also include agents and analysts from numerous law enforcement agencies.

Legal, Regulation & Compliance