Managers of Wealth Americas

The New Big, Bad Bully in Banking Town Is After Citigroup and BNP Paribas

An investor must wonder: What is all of this?

BofA's Merrill fined for mutual fund overcharges

Bank of America Corp's Merrill Lynch unit was fined $8 million and will reimburse $24.4 million to customers to settle allegations that it overcharged more than 47,000 retirement accounts and charities that invested in mutual funds.

Merrill Lynch Must Face $1 Billion Mortgage Suit, Court Says

The trusts sued Merrill Lynch Mortgage Lending Inc. in New York State Supreme Court in Manhattan in December 2012, seeking to force it to buy back allegedly misrepresented loans.

Volcker Rule: Interim Examination Procedures

The Office of the Comptroller of the Currency (OCC) is issuing interim procedures for examiners to assess banks’ progress in developing a framework to comply with requirements of section 619 of the Dodd-Frank Wall Street Reform and Consumer Protecti

IRS Backs Investors Seeking Change to Hedge Fund Fees

The U.S. Internal Revenue Service issued a ruling that clears the way for institutional investors to seek changes to incentive fees assessed by hedge funds, which may make it cheaper for them to invest in such offerings.

IRS Backs Investors Seeking Change to Hedge Fund Fees

Institutions have been pushing managers to charge incentive fees on a cumulative basis

Update 2- U.S. wins first guilty plea from individual in Libor probe

A former Rabobank NV trader pleaded guilty on Tuesday for his role in manipulating Libor, becoming the first person to admit guilt in a worldwide probe into alleged manipulation of interest rate benchmarks.

SEC to consider if revisions are needed to Regulation NMS

Liquidnet was fined $2m by the SEC for sharing customer trading information

Appleby partner joins expert panel in New York

When a fund becomes illiquid it can find that its assets cannot be sold at all

Klayman & Toskes and Carlo File $2 Million Claim Against UBS

These funds were too risky to maintain these objectives

Former director sues BNP Paribas North America

The lawsuit alleges that the company eventually fired Orlando from the New York office in a retaliatory move

SMFG chairman Oku concerned over US, UK banking rules

Masayuki Oku takes issue with regulations that exceed demands of Basel III regime

Baker & McKenzie Advises The Dai-ichi Life Insurance Company on its USD5.7 Billion Acquisition of Protective Life Corporation

We are extremely delighted to have assisted Dai-ichi Life on this strategically important transaction

US scheme late in paying $64.8m to Singapore investors

The US operators admit there are problems, but say they hope to return money to investors.

Foreign banks face disappointment over Volcker rule

One of the issues facing foreign banks is whether they will need to sell investments in covered funds, such as private equity or hedge funds

SEC delays case against Steven Cohen

A federal judge on Tuesday granted a request to delay a lawsuit by the Securities and Exchange Commission against Great Neck native and hedge fund owner Steven Cohen, according to published reports.

Jersey set to stage US SEC conference

The seminar will provide an overview of the SEC’s regulatory framework

BlackRock: Regulators Shouldn’t Conflate Asset Managers With Owners

Banks invest their equity capital and deposits in an assortment of balance sheet assets

FINRA Fines Barclays Capital, Goldman Sachs and Merrill Lynch $1 Million Each for Submitting Inaccurate Blue Sheet Data

The Financial Industry Regulatory Authority today announced it has censured and fined Barclays Capital Inc.; Goldman, Sachs & Co.; and Merrill Lynch, Pierce, Fenner & Smith, Inc., $1 million each for failing to provide complete and accurate infor

Foreign banks face disappointment over Volcker rule clarification

One of the biggest issues facing foreign banks is whether they will need to sell investments

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