Managers of Wealth Americas

Sterne Agee Takes Ex-CEO to Court over Luxury Spending

The lawsuit comes after the wealth-management firm was told James Holbrook faced federal investigations

SEC chief not pleased over insider trading decision

Securities and Exchange Commission chief Mary Jo White is none too pleased about Wednesday’s landmark federal appeals court ruling that overturned two insider trading convictions.

New York Department of Financial Services Cyber Security Examination

The NYDFS issuance is just the most recent example of the increasing focus among state and federal regulatory agencies and government officials regarding cyber security and its importance to the financial services industry.

SEC charges advisory firm with fraud for $12mn risky hedge fund investment to retirees

Hedge Fund’s Portfolio Manager Agrees to Settle Charges

Taxing New Rules Make Hiding Cash Harder

More paperwork as governments force wealthy to declare overseas assets.

JPMorgan Chase Says It Hopes to Meet New Capital Rules With No Major Changes

Banks can raise capital either by selling new stock to shareholders or retaining profits.

New York banking regulator probing Barclays, Deutsche Bank's FX algorithm

The New York banking regulator is investigating if Deutsche Bank and Barclays Plc used algorithms on their trading platforms to manipulate foreign exchange rates,

Withers Regulatory Watch News - December 2014

Welcome to the December issue of Withers' Regulatory Watch.

FINRA Fines 10 Firms a Total of $43.5 Million for Allowing Equity Research Analysts to Solicit Investment Banking Business and for Offering Favorable Research Coverage

FINRA's research analyst conflict of interest rules make clear that firms may not use research analysts or the promise of offering favorable research to win investment banking business

Feds Seek $190M From Deutsche Bank For Alleged Tax Dodge

Federal prosecutors on Monday sued Deutsche Bank AG, seeking $190 million from the German bank for allegedly engaging in a tax evasion scheme by setting up shell companies to hide profits on the appreciation of stock that the bank purchased in 1999.

SEC Orders 3 Ex-LPL Advisors to Pay More Than $1.5M

What's unclear is whether Concord's founders also hid this practice from LPL Financial

Bill Calls for Moratorium on Bitcoin Regulation

A bill has been introduced in the House of Representatives which seeks a five year moratorium on statutory restrictions or regulations on cryptocurrencies such as Bitcoin.

Penningtons Manches Opens In San Francisco

This builds upon the firm's considerable network of clients and contacts in San Francisco and Silicon Valley.

Indian Fund Manager Asked to Pay USD 390K Settle Charges

Shah was at the time a portfolio manager at an asset management firm that managed billions of dollars in mutual funds and a hedge fund.

SEC sanctions foreign bank for failure to register - Withers

The US Securities and Exchange Commission (SEC) has issued a cease and desist order and has imposed remedial sanctions upon a foreign bank which failed to register as a broker-dealer or as an investment adviser.

Operator of Bitcoin Stock Exchange Penalized By the SEC

The SEC’s order further finds that Burnside and BTC Trading Corp. failed to register the LTC-Global exchange

SEC Sanctions Eight Audit Firms for Violating Auditor Independence Rules

The firms, which consented to the orders without admitting or denying the findings, will collectively pay $140,000 in penalties and must comply with a series of remedial undertakings designed to prevent future violations of these independence requirements

Legal, Regulation & Compliance