Managers of Wealth Americas

Credit Suisse announces settlement with SEC related to mortgage business

The SEC has advised that its investigation relating to Credit Suisse’s due diligence and corresponding disclosures on historic RMBS transactions will not be pursued.

A Primer on the Foreign Account Tax Compliance Act (FACTA)

In 2010, the Foreign Account Tax Compliance Act (FACTA) was passed. In essence, it is a program aimed at uncovering undeclared income hidden by Americans in banks around the world.

JP Morgan banned from trading electricity in the US

JP Morgan has been banned from trading electricity in the US after a regulator accused the bank of making "egregious" misrepresentations during an investigation into alleged market manipulation.

JPMorgan Faces Order on Anti-Money Laundering, WSJ Says

The Office of the Comptroller of the Currency will give the cease-and-desist order

HSBC Settles First Suit Over Madoff Feeder Fund

The UCITS fund in question, Thema International Fund, has sued HSBC itself, seeking the roughly €1 billion it lost when Madoff was arrested.

Wilmer's private client group headed to Boston-based law firm

It is anticipated that the partners will be accompanied by associates and other staff, and that WilmerHale's entire Private Client Practice will move

Ivy Asset Management to pay $210 million to settle Madoff suits

Officials have reached a $210 million settlement with Ivy Asset Management

Wall Street delays Basel III in threat to London

Wall Street banks will not meet a January deadline to begin implementing new global capital rules, potentially handing New York an advantage over London as the financial centres vie for dominance.

Morgan Stanley sues Ex-FrontPoint manager over insider charges

Morgan Stanley is suing a former employee who was convicted of insider trading in order to recover $33 million it said it paid U.S. regulators to settle civil claims relating to the crimes, court papers showed.

Exec Claims Bank Fired Him for Reporting Rothstein's Ponzi Scam

South Florida attorney Scott Rothstein ran a massive investment scam which traded in fictitious structured settlements from purported high-profile lawsuits.

U.S. Engaging With More Than 50 Countries To Curtail Offshore Tax Evasion

The Treasury Department has already concluded a bilateral agreement with the United Kingdom

Morgan Stanley tries to stop Facebook investor arbitration

A Facebook investor is seeking arbitration for $1.9 million in damages from the botched IPO, but Morgan Stanley argues it shouldn't proceed because the investor isn't Morgan Stanley's customer, according to a report.

FBI Begins Trader Probe As Securities Firm Teeters On The Brink

The Securities and Exchange Commission and Financial Industry Regulatory Authority are also probing the matter, sources said.

Former UBS Banker Bagios Said to Plan Guilty Plea

Christos Bagios, a former banker at UBS AG and Credit Suisse Group arrested

Merrill Ordered to Pay Ex-Broker $1.2M in Flap Over Mishandled Sale

Merrill Lynch must pay roughly $1.2 million to a former broker who was wrongly blamed for mishandling a client's stock sale and fired, an arbitration panel ruled.

Deutsche Bank Faces Top Surcharge as FSB Shuffles Capital Tiers

Citigroup Inc., HSBC Holdings Plc and JPMorgan Chase & Co. join Deutsche Bank as firms that will be targeted for a capital surcharge of 2.5 percent, according to an updated list published yesterday by the Financial Stability Board.

Ex-Credit Suisse Broker’s Wife Can’t Have Assets, Judge Says

The money in question totals $736,060, according to court records.

Israeli banks demanding to see U.S. citizens' tax returns

Those who refuse to do so risk having their applications denied

Barclays faces further regulatory scrutiny as it braces for US fine

Barclays reports third-quarter loss as US authorities mull fine over energy trading and Middle East fundraising faces scrutiny

Barclays hit by fresh US investigations

Barclays, already rocked by an interest rate rigging scandal, unveiled two new US regulatory investigations into the bank's financial probity on Wednesday and said its profit was hit by charges for mis-selling insurance.

Legal, Regulation & Compliance