Managers of Wealth Americas

The Volcker Rule Makes Us Safer, But Not Safe

Now that a round of mild applause is subsiding for the administration having finally issued regulations for the Volcker Rule, some five years after the 2008 financial crisis.

UBS 'not responsible' to shareholders in rogue trader claim

US shareholders, including two New York based pension funds, claimed UBS officials and then-chief executive Oswald Gruebel had misled investors by frequently touting the bank’s internal controls prior to Adoboli’s fictious trades being reveale

GLG Fined $9m for Overvaluing Stake

Hedge fund GLG is said to have overvalued the stake it held in a coal mining company by 60pc for two years

JPMorgan compliance costs to double in 2014

US banking giant JPMorgan Chase expects to spend US$2 billion in annual compliance costs starting in 2014

Merrill Lynch Settles CDO Charges for $132M

Bank of America’s Merrill Lynch unit has agreed to pay $132 million to settle civil charges

KPMG Turned Over China Documents to U.S. Regulators

The handover is part of a U.S.-China deal reached in May that allows the U.S. access to audit firms' documents about their Chinese clients, conveyed to the U.S. through Chinese regulators.

FATCA System Fails Government Probe, Threatens Privacy

IRS is still unprepared for the law, according to a report by the Treasury Inspector General for Tax Administration.

Dimon Applauds Certainty With Final Volcker Rule

J.P. Morgan Chase & Co. Chief Executive James Dimon was once a loud critic of the proposed Volcker rule

Madoff's Ponzi Scheme Taught Us 8 Unforgettable Lessons About Spotting A Fraud

Five years ago today, Bernie Madoff was arrested for running the largest Ponzi scheme.

US regulators poised to vote on Volcker today

Asset managers owned by European and Asian banks fear that the Volcker Rule would severely restrict their ability to run mutual funds.

JPMorgan Nears Madoff Settlement

A deferred-prosecution agreement between the bank and the U.S. Attorney's Office in Manhattan could come within the next few weeks or early next year,

Banks Brace Ahead of Vote on Volcker Rule

Regulators from five different agencies have come to agreement on the terms of the Volcker Rule, and they will each formally vote to adopt the once-thought-to-be-dead rule by Dec. 10.

Regulators still struggling to balance protection with growth, according to financial service firms

Overall, 49% thought that no regulator had succeeded in this respect, with a majority of respondents in the US and the UK holding this view.

KKR, Castleton to Pursue Bid for J.P. Morgan Commodities Business

The duo of Castleton Commodities International LLC, of Stamford, Conn., and KKR is one of several groups in the running for the assets, which the New York bank is selling as regulators push banks to exit physical-commodity trading.

Fifth Third Bank Settles SEC Accounting Charges for $6.5M

The Securities and Exchange Commission today charged the holding company of Cincinnati-based Fifth Third Bank and its former chief financial officer with improper accounting of commercial real estate loans in the midst of the financial crisis.

SEC proposes rules for crowd funding registration exemption - Withers

The JOBS Act crowd funding provisions provide an exemption from registration for securities offerings under certain conditions. The recent proposed rules are not final, and the SEC is accepting comments on the proposed rules until 3 February 2014.

BNY Mellon Wealth Management And Its Chief Fiduciary Officer Accused Of Campaign Against Famed Sculptor's Heirs

The new suit accuses BNY and Newman of violating the 2009 settlement agreement, as well as of Breach of Fiduciary Duty.

Financial institutions specialty law firms merge

The combined firm will have acted as counsel to both issuers and underwriters in over 1,000 securities offerings raising more than $40 billion, and acted as counsel for both buyers and sellers in over 800 merger and acquisition transactions totaling in ex

Wells Fargo: U.S. targeting executive as defendant may be retaliation

Wells Fargo & Co said Monday that a U.S. government request to add one of its executives as a defendant in a fraud case may be in retaliation for the bank's decision to cut off settlement talks.

Bank of America Reaches Settlement With Freddie Mac

Freddie Mac, the mortgage finance giant that nearly failed five years ago.

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