Managers of Wealth Americas

2022 Banking Regulatory Outlook

Expanding regulations to address new and emerging challenges

Two Arrested for Alleged Conspiracy to Launder $4.5 Billion in Stolen Cryptocurrency

Government Seized $3.6 Billion in Stolen Cryptocurrency Directly Linked to 2016 Hack of Virtual Currency Exchange

Mercator : Key Regulatory Updates from 2021

Mercator by Citco continues to provide updates from across the entire set of jurisdictions that Mercator operates in to help keep our multinational clients informed and remain compliant.

Loan growth aggravates risk of a monetary policy mistake

Will January’s negative performance be a precursor to a rockier 2022?

Clifford Chance advises BlackRock on US$300 million financing

A cross-disciplinary team at Clifford Chance advised BlackRock on the finance, insurance, tax and equity aspects of the transaction.

Bank of America CEO's pay rises more than 30% for 2021

Moynihan will receive a base salary of US$1.5 million with the remainder of his pay package comprised of an equity incentive award worth US$30.5 million, according to the filing.

Goodbye easy money as hawkish central banks speed up rate hikes

Rates are rising because policy makers see inflation shock now poses a bigger threat

‘The Maltese Falcoin’: JPMorgan issues critical Bitcoin report

Malta is tax free for crypto investors and exempts capital gains tax and VAT and has implemented several crypto friendly virtual currency legislations.

SEC Survives Initial Challenge in First Enforcement Action Alleging 'Shadow Trading'

The SEC’s focus on shadow trading may mean that the specific prohibitions in a company’s policy may come under greater scrutiny.

SEC Proposes Amendments to Form PF and Enhanced Reporting for Private Fund Advisers

Market participants and the general public are invited to comment on the proposed amendments.

Monzo moves out of beta in the US

Monzo, which has around five million customers in its home market of the UK, has long planned to enter the American market.

Citi whistle blower wants share of US$400 million penalty

Blowing the whistle on corporate misdeeds has become lucrative in recent years, with government watchdogs routinely awarding informants millions of dollars for their help with cases.

Peltz wins Janus board seats, gives up position at Invesco

Peltz and Trian CIO Ed Garden have now joined Janus’s board.

Central Bankers - Tigers Still with no Teeth

Last week, the markets saw the Fed meeting as hawkish, but what did investors expect?

Much-Anticipated Federal Reserve Report Signals That a CBDC Is a Long Way Off

The Report requests comments on a series of questions to help the Federal Reserve improve its understanding of the potential benefits and risks of a CBDC.

UK Home Purchases for US Individuals

The examples below highlight why US persons should always take US tax advice before buying property in the UK.

Ex-Merrill FA Barred Over Alleged Misuse of Client Funds

Finra alleges that in May 2020, Nicholas “induced” the customers in question to enter into a promissory note with an entity where he was the sole owner

Former UBS investment adviser charged with stealing $5.8m from client

The SEC’s complaint, filed in the U.S. District Court for the Southern District of Florida, charges Nino with violations of the antifraud provisions of the federal securities laws

US Corporate Transparency Act proposed regulations published

A reporting company must file a corrected report within 14 calendar days of such reporting company becoming aware or having reason to know of the inaccuracy.

Banks back plan to share SARs with foreign units. For now.

Under current law, such units are treated the same as foreign banks and are ineligible for sharing.

Legal, Regulation & Compliance