Managers of Wealth Americas

Ex-UBS broker awarded $5.4 million in case over Lehman notes

Arbitration panel has held the firm liable for misrepresenting Lehman Structured notes as suitable for clients

Citigroup to pay $1.13B to settle mortgage claims

Citigroup has announced that it has reached an agreement with 18 institutional investors, represented by Gibbs & Bruns LLP, regarding the resolution of certain legacy Securities and Banking private-label securitization representation and warranty re

SEC Goldman Lawyer Says Agency Too Timid on Wall Street Misdeeds

A trial attorney from the Securities and Exchange Commission said his bosses were too “tentative and fearful” to bring many Wall Street leaders to heel after the 2008 credit crisis, echoing the regulator’s outside critics.

Fed gives banks extra time on Volcker compliance

The Volcker rule, aimed at banning proprietary trading, would have forced banks to divest their CLO investments, resulting in billions of dollars in losses.

Norway native admitted stealing millions from investors

A Norway native admitted in federal court in San Diego Tuesday to using counterfeit and forged securities to steal more than $2 million from investors over a recent 13-month period.

Regulators act to require stronger bank capital

The banks’ deposit-holding subsidiaries will have to achieve a ratio of 6 percent. The subsidiaries are subject to a stricter ratio requirement because the deposits are insured by the government.

World's Largest Investors Engage Stock Exchanges on Sustainability Reporting Standard for Companies

Sustainability advocacy group Ceres, in collaboration with BlackRock and other major institutional investors across the globe, announced an initiative to engage global stock exchanges, via the World Federation of Exchanges, on a uniform standard for susta

Exclusive: U.S. SEC forms squad to examine private funds

The U.S. Securities and Exchange Commission has put together a dedicated group to examine private equity and hedge funds, after the 2010 Dodd-Frank law required the funds to be regulated

Ex-JPMorgan trader in 'Whale' scandal open to facing U.S. charges

He and another one-time trader at the bank, Javier Martin-Artajo, are considered fugitives by the U.S. government for not coming to the United States to face trial over charges stemming from the so-called London Whale scandal.

State Regulators Hire Outside Lawyer for Dispute With U.S. SEC

He has good experience understanding the inner workings

Daniel K Tarullo: Regulating large foreign banking organizations

Speech by Mr Daniel K Tarullo, Member of the Board of Governors of the Federal Reserve System, at the Harvard Law School

MBTA pension fund sues Fletcher Asset Management

New York investment manager Alphonse “Buddy” Fletcher Jr. is being sued by the MBTA Retirement Fund and some of his own hedge funds on accusations that he defrauded them of more than $50 million.

Regulations Are Getting Worse, say Compliance Officers

Regulators have been very active in the wake of the financial crisis

Investment managers behind the curve on FATCA prep, says SEI

Many investment managers are still coming to grips with the related operational, staffing, and budgetary requirements of the Foreign Account Tax Compliance Act (FATCA), according to a paper by SEI.

UBS Suspends FX Traders in New York, Zurich and Singapore

UBS AG suspended foreign-exchange traders in the U.S., Singapore and Switzerland as its investigation into the alleged rigging of currency markets widened.

Bank of America, ex-CEO Lewis settle NY lawsuit over Merrill

Kenneth Lewis, who turned Bank of America Corp into the nation's largest bank but also saddled it with enormous losses tied to mortgages, has settled a lawsuit accusing him of deceiving investors about one of his biggest acquisitions: Merrill Lynch &

American, Canadians Accused of Money Laundering in the Caribbean

They were indicted for conspiracy to launder monetary instruments

JPMorgan defeats appeal in U.S. silver price-fixing lawsuit

Silver investors failed to show that JPMorgan Chase & Co conspired to drive down the metal's price, and an antitrust lawsuit accusing the largest U.S. bank of price-fixing should be dismissed

Hedge fund manager drops lawsuit over anonymous blogger

David Einhorn, the hedge fund manager, dropped a lawsuit aimed at unmasking an anonymous blogger on the Seeking Alpha financial website, who had discussed one of his fund’s stock positions before it was publicly announced.

Osborne Clarke to launch in San Francisco

Osborne Clarke is to open in San Francisco, six months after the firm sent a heavyweight contingent to launch an office in Manhattan.

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