Managers of Wealth Americas

Rabobank Ex-Traders Charged With Yen Libor Rigging

Three former Rabobank traders were charged by the U.S. with engaging in a five-year scheme to manipulate benchmark interest rates as international probes of rate rigging escalate.

SEC and FINRA Examination Priorities for 2014 - Withers

U.S Securities and Exchange Commission and the Financial Industry Regulatory Authority release priorities for the SEC’s examinations of investment advisers and investment companies and FINRA’s examinations of broker-dealers.

Court Rejects Banking Associations’ Challenge to Regulations Addressing Offshore Tax Avoidance

Today the District Court in the District of Columbia dismissed a challenge filed by the Florida Bankers Association and Texas Bankers Association challenging 2012 amendments to the Department of the Treasury’s interest-reporting regulations.

Madoff Trustee Case Against Banks Draws U.S. High Court Inquiry

The U.S. Supreme Court signaled interest in an appeal by the liquidator of Bernard Madoff’s firm, asking the Obama administration for advice on suits seeking $8 billion from banks alleged to have helped funnel money into his Ponzi scheme.

US Supreme Court accepts Argentina's debt case

The ruling gave the funds the power to enforce subpoenas against two banks for information about Argentine assets.

International law firm Adds Veteran Tax Controversy Partners

The international law firm have announced that two partners with deep experience in tax controversy, criminal tax law and tax litigation have joined the firm from Hass & Hecht.

Withers Bergman Adds Premier Trusts & Estates Attorney

He is widely recognized as one of the foremost estate planning and business succession planning attorneys in the United States.

The Volcker Rule – An In-Depth Q&A About The Covered Funds Provisions - Debevoise

More than two years after they were originally proposed, on December 10, 2013, the federal banking agencies, the Securities and Exchange Commission and the Commodity Futures Trading Commission adopted final regulations to implement Section 13 of the Bank

Swiss Court Blocks Julius Baer Client Data Transfer to U.S.

Switzerland’s largest federal court told the nation’s tax authority not to disclose data about the bank account of a client of Julius Baer Group Ltd. to the U.S., after the Internal Revenue Service made an invalid request.

Ex-Lehman wealth adviser can keep $1.8 million in bonus money - panel

Signing bonuses, often referred to as 'employee forgivable loans' are paid by firms to brokers and other licensed securities professionals up front and structured as loans forgiven over time, typically a seven-to-10-year period.

RBS and Barclays face new probe by US regulators

RBS is said to be among nine banks being investigated for selling subprime mortgages

Ex-UBS Banker Weil Heads Back to Court as He Prepares Defense

He is the highest-ranking banker charged in a U.S. crackdown on offshore tax evasion

J.P. Morgan Officials Excluded from Penalties in Madoff Deal

The decision contrasts with the approach taken last year in the case of J.P. Morgan's "London whale" trading debacle, where two former traders were charged with hiding losses on runaway bad bets that cost the bank more than $6 billion.

Profits Interests in Partnerships - Withers

It has been long settled in US tax law that the grant of a profits interest in a partnership is not a taxable event to the party receiving the interest.

Royal Bank of Scotland hit with $50m fine

The subsidiary pleaded guilty last April to wire fraud and admitted its role in manipulating the Japanese Yen London interbank offered rate, or LIBOR.

97% of Financial Firms Don’t Think Enough Has Been Done to Prevent Future Crash

Furthermore, just 12 per cent of respondents believe that regulators fully understand how the financial crisis happened in the first place.

US: EU members must share risks, costs in banking union

EU leaders and the European Parliament are at odds over how to wind down troubled banks. Bank resolution procedures are one pillar of the planned eurozone banking union.

JPMorgan on Brink of $2bn Bernie Madoff Fed Fine

JPMorgan is set to stump up $2bn to resolve a case with the Federal Reserve over suspicions that the bank ignored signs of Bernard 'Bernie' Madoff's Ponzi scheme.

50 Percent Of Executives Surveyed Say Companies Have Limited Or No Protocols For Cross Border Investigations - KPMG

This revelation comes at a time when data and employee privacy issues, often triggered by investigations, are dominating the headlines and major corporations are facing increased regulatory scrutiny around anti-bribery and corruption legislation

US fines Barclays $3.75m over e-record failures

Regualtor fines British bank Barclays for failure to preserve order trade data, emails and instant messages

Legal, Regulation & Compliance