Managers of Wealth Americas

Financial Regulators and Congress Remain Inconsistent

Eleven banks presented unsatisfactory living wills.

Paraguay finance minister quits, central bank highflier tapped

Two sources in the finance ministry said Rojas was leaving, while another official in the central bank said he understood Rojas was stepping down for personal reasons.

The legend of the unsinkable ship – A lesson in risk management for corporates

The demise of celebrated global investment banks Bear Stearns and Lehman Brothers previously regarded as “too big to fail” during the global economic recession of 2007-2009 was rather synonymous with sinking of the Titanic.

SAC’s Steinberg Appeal Delayed as U.S. Weighs Challenge

SAC Capital Advisors LP hedge fund manager Michael Steinberg’s appeal of his insider trading conviction was further delayed by a court as the government decides how to respond to a ruling that upended guilty verdicts in two related cases.

High-level Fed committee overruled finding on Goldman

A committee that includes senior Federal Reserve officials reviewed and overturned a bank examiner's finding that Goldman Sachs lacked a firm-wide policy to prevent conflicts of interest

No More Regulatory Nice Guy for Banks

For banks, 2014 was the year of penalties

California judges sue Calpers pension system over contributions

The six, who were elected in 2012, claim a pension reform law signed by Governor Jerry Brown

Itaú, Corpbanca deal passes another regulatory hurdle

The deal has also received regulatory approval in Brazil

SEC Accuses Fund Managers of Diverting $4.4 Million

Three Fund Managers Allegedly Used Client Money to Prop Up Side Business

SEC Provides Guidance on Key Employee Trusts Under Family Office Rule

The SEC Division of Investment Management recently provided guidance on whether certain key employee trusts would qualify as family clients under the rule.

Israel's Bank Leumi gave the U.S. data on former customers

Leumi also agreed to pay $400 million to settle two separate investigations into whether it helped its American clients evade U.S. taxes.

Credit Suisse Bank Faces $10 Billion Lawsuit Over Pre-2007 Mortgage Fraud

The legal wrangling isn’t entirely over

US Court Directs Bank Creditors To File Claims

A US court has directed the "reorganised Arcapita Bank BSC" to initiate transfer of claims by eligible holders.

Wirehouse Advisors Gripe About, Increasingly Satisfied with Compliance

Despite constant and vocal grumbling, national brokerage and wirehouse advisors have steadily increased their satisfaction ratings of firms’ compliance programs.

Microsoft Ex-CEO & Other Executives Sued by IRS over Taxes

Software developer Microsoft Corporation’s executives, both former and current, including former chief executive officer Steve Ballmer have been sued by The Internal Revenue Service over the company's past tax practices.

Pershing to pay $3 mln for customer protection violations

The "customer protection rule" at issue in FINRA's action is a mandate of the U.S. Securities and Exchange Commission.

MIT Academic, Harvard Educated Money Manager Guilty of Fraud

Hedge fund insiders are known to consider questionable performance results that delivers profits across all market environments and fail to experience negative drawdowns or downside volatility.

SEC Rater Report, MF Global Restitution, BofA Exec: Compliance

Debt raters failed to follow their own methodologies, let senior credit officers view market-share data and allowed a trade group to affect criteria changes

$40 Million Goes To Hedge Fund In Credit Suisse Case

With the appraisal, Highland Capital used the property as collateral against a $540 million loan.

Rbc Agrees $35m Fine Over Scheme Involving Bahamas

The consent order reveals that between June 1, 2007,and May 31, 2010, RBC entities executed 1,026 such transactions

Legal, Regulation & Compliance