Managers of Wealth Americas

Avoiding 'Due-Diligence Lite' on Asset Managers

Advisers need to understand what drives managed portfolios of ETFs

ICI Welcomes New SEC Rules on Funds, Asset Managers

FSOC has shifted SIFI focus away from asset management firms and will assess specific products and activities

Government wraps up kickback case against Hingham CEO and his former company

A federal court yesterday entered what's called a final judgment to resolve kickback allegations against a Hingham CEO and the company he led.

Caribbean-Based Investment Advisor Sentenced for Using Offshore Accounts to Launder and Conceal Funds

District Court for the Eastern District of Virginia on March 6, and the indictment was unsealed March 12 after the defendants were arrested in Miami.

Fed's Powell says alternative to Libor needed as soon as practical

Along with the large number of dollar-based contracts, Libor is used as a reference rate for another $150 trillion in contracts denominated in other currencies

Barclays, BofA, Citigroup Sued for ISDAfix Manipulation

The Alaska Electrical Pension Fund sued yesterday in Manhattan federal court, claiming the banks colluded to set ISDAfix at artificial levels that allowed them to manipulate payments to investors in the derivatives.

Morgan Stanley loses lawsuit to overturn $8 million arbitration ruling

The arbitration award effectively restored millions of dollars in deferred compensation that Gupta was forced to forfeit because of the termination.

Former bank executive faces November sentencing

Bailey pleaded guilty last month to conspiracy.

U.S. SEC Charges Houston Advisor With Not Disclosing Fund Payments

The conflict of interest, which was unknown to investors, generated about $440,000 in additional revenue for the firm, the SEC said.

Regulators set rules to ward off bank crisis

The 15 largest banks — those with more than $250 billion in assets — will have to hold enough cash, government bonds and other high-quality assets to fund operations for 30 days

U.S. Regulators Tighten Swaps Collateral Regulations

U.S. financial regulators eased proposed collateral requirements for swaps traded between banks, manufacturers and other firms by seeking to limit the impact on smaller companies and global liquidity.

Ex-Goldman Trader Loses in Bid for $5 Million More in Bonus

Salem claimed he helped the bank earn more than $7 billion and told the arbitration panel on Feb. 25 that he was one of the most sought-after investment professionals in the mortgage industry.

SEC intensifies probes of European fund managers

Questions over valuations of illiquid assets draw scrutiny as mainstream investors increasingly seek alternative investments

SEC Adopts Final Regulation AB II Rules

The ABS Final Rules were adopted in part in response to the requirements of Sections 939A and 942(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

Money laundering moving to RMB as US cracks down

Money launderers will increasingly move away from the US dollar to the renminbi as US authorities continue to crack down on international banks’ AML systems.

FDIC bans Ex-Omaha President & CEO from Banking

Michael Dahir, Omaha State Bank’s former president is banned from banking now.

Microsoft will not hand over overseas email, despite order

That prospect had drawn concern from technology companies - fearful of losing revenue from foreign customers worried that U.S. law enforcement might win broad power to seize their data.

FBI Investigates Whether Russians Hacked JPMorgan and Other U.S. Banks

Federal authorities are investigating hacking attacks against JPMorgan Chase and several other banks, according to published reports.

Barclays' Index Unit May Sell For Much More Than $400 Million Asking Price

IPRS has attracted bids from nearly every major player in the index industry, including Standard & Poor’s, MSCI, Markit, Bloomberg, Thomson Reuters and the CME Group.

How The SEC's Examination Of Alternative Funds Affects BlackRock

The move by the SEC was expected considering the fact that alternative mutual funds have swelled nearly tenfold in size from just over $30 billion in 2008 to $283 billion at the end of 2013

Legal, Regulation & Compliance