Managers of Wealth Americas

Raymond James Wrongful Discharge Case Is A Minefield For Stockbroker

The FINRA Arbitration Panel dismissed Claimant Pavlovich’s claims.

Canadian version of Libor has ‘potential for manipulation’: IIROC

Canada’s investment industry self-regulatory organization has found that the process for setting Cdor, the Canadian version of Libor, is murky, complex and could be manipulated, but stopped short of making concrete recommendations on how to fix it.

The FATCA Model 2 Intergovernmental Agreement

The Model 2 IGA calls for direct foreign financial institution (FFI) reporting to the IRS but with aggregate disclosure of "recalcitrant" account holder data, subject to exchange of information requests by the IRS.

Former Hedge-Fund Consultant Avoids Prison Time After Aiding Insider Probe

A former hedge-fund consultant who worked for an SAC Capital Advisors affiliate avoided prison Wednesday, after prosecutors said he cooperated and "contributed substantially" in the U.S. government's crackdown on insider trading.

UBS Client Pleads Guilty in U.S. Tax Case in Florida

Mary Estelle Curran, 79, admitted yesterday in federal court in West Palm Beach, Florida, to two counts of filing false tax returns.

HSBC N.J. Client Admits Conspiracy in Offshore Tax Case

HSBC’s Geneva-based private bank is one of at least 11 Swiss firms under investigation by U.S. prosecutors investigating offshore tax evasion.

UBS Client Pleads Guilty in U.S. Tax Case in Florida

She pleaded guilty today and accepted full responsibility for her actions

Law firm? Accounting firm? Laird Norton is putting ‘wealth management’ in its name

Seattle’s Laird Norton Tyee has a new name and a new logo

Bank of America up following settlement with Fannie Mae

Shares up 1.8 percent in premarket trade following settlement with Fannie Mae

US officials pledge to respect Swiss law on bank client data

The Alpine country is trying to preserve what is left of its cherished banking secrecy that suffered a severe blow in 2009 when UBS, the first Swiss bank that came under scrutiny in the US, was required to disclose client data.

Fitch: US global tax settlement best option for swiss banks

A global settlement has been pursued by the Swiss government since early 2012.

Morgan Stanley Broker Fined And Suspended For Taking Fidelity Customer Data

In November 2010 – some eight months after his departure from Fidelity Brokerage – his former firm notified Morgan Stanley that it believed he had improperly taken nonpublic customer information.

JPMorgan Chase Faces Sanctions For Refusing To Provide Madoff Documents

JPMorgan, contends the information is protected by attorney-client privilege.

Goldman Sachs seeks $7m legal fees from Rajat Gupta

Goldman Sachs is seeking nearly $7m (£4.3m) from a former board member convicted of insider trading to cover its legal fees and expenses, following a judge’s description of the bank as a “victim” of the crime.

Convictions upheld in case of Chinese bankers who laundered money in Las Vegas

They were arrested in 2004.

U.S. Department of Justice pledges to respect Swiss law in tax probe

Swiss banking secrecy laws prevent banks from disclosing any information on the financial affairs of clients to third parties, unless there are sufficient grounds to suspect a crime has been committed.

Highlights from the American Taxpayer Relief Act of 2012 - Withers

Following is a brief summary of those aspects of the Act that we believe are most relevant to our clients in the areas of (i) gift and estate taxes, (ii) personal income tax, and (iii) business tax.

Swiss Bank Pleads Guilty to Tax Law Violations

“There is no excuse for wealthy Americans flouting their responsibilities as citizens of this great country to pay their taxes, and there is no excuse for foreign financial institutions helping them to do so.”

Mizuho settles U.S. charges over fund deficiencies

The alleged deficiencies of Mizuho's secured accounts occurred in October 2011, just weeks before MF Global's spectacular downfall.

Manx trusts accused of fraud in US

Douglas high court judgment involving four claimants – IFG International Trust Company Limited, Trident Trust Company (IOM) Limited, Inter-Continental Management Limited and Kleinwort Benson Trustees (Isle Of Man) Limited.

Legal, Regulation & Compliance