Managers of Wealth Americas

Standard Chartered US claims puts auditors back in dock

Auditor Deloitte has rejected claims it helped Standard Chartered hide $250bn (£161bn) of illegal Iranian transactions in the latest scandal to embroil the industry.

Standard Chartered rejects Iranian 'scheming' claims: statement in full

Standard Chartered has firmly rejected claims that it “schemed” with Iran to conduct secret transactions worth $250bn (£160bn). Here is its statement in full.

Ex-UBS Executive Told Colleague to Forget Rigged Deal

Heinz and Welty are charged along with Peter Ghavami, the former head of UBS’s municipal-derivatives group, with conspiracy to defraud municipal-bond issuers and U.S. tax authorities by fixing the prices on the investing agreements.

Witness For Whitman Prosecution Tells Of Her Hedge Fund Insider Trading Involvement

The insider-trading case against Galleon Group co-founder Raj Rajaratnam was sparked by information from Khan.

Swiss seek U.S. tax deal by year-end, but not at any price

It also wants a deal to shield the remainder of its 300 or so banks from U.S. prosecution.

US Makes New Request to Swiss for Information on Alleged Tax Cheats

A spokesman for the Swiss Federal Tax Administration confirmed that a request for administrative assistance had been made by the fiscal authorities in the U.S. last month.

U.S. Federal Judge Sanctions TD Bank Over Rothstein-Related Trial Documents

The ruling is a blow to Canada's second-largest bank, which is embarking on an aggressive expansion plan in the U.S., including into the sunshine state of Florida, a second home to many snowbird Canadians.

US probe into bank manipulation of silver markets set to be dropped

US regulators have dropped a four-year investigation into manipulation of the silver market, according to reports. The decision, if true, will take pressure off JP Morgan and HSBC who were the main focus of legal complaint that sparked the regulatory pro

RBS facing US money laundering investigation

The part-nationalised lender made the disclosure in its half year results on Friday, where it reported a loss of £1.5bn in the first six months of 2012 and set aside £125m to cover costs related to the recent IT problems.

NY Regulator Accuses Standard Chartered of Illegal Transfers

It labelled UK-based Standard Chartered a "rogue institution".

Former UBS Strategist Says He Was Pressured to Mislead

Trevor Murray was employed by UBS Securities LLC from May 2007 until he was fired in September 2009, and then returned to the company in May 2011, he said in a lawsuit filed today in federal court in Manhattan.

Cayman Law Society opposes payroll tax

Those two industries generate the vast majority of our economic activity.

UBS Whistle-Blower Released From U.S. Prison

He began serving a 40-month sentence in January 2010 at Schuylkill Federal Correctional Institution, and received good-time credit that reduced his term, said his attorney, Stephen M. Kohn. His brother, Douglas, drove him to a halfway house i

Ex-Morgan Stanley Risk Officer Sues Bank for reporting securities “flipping” by one of the firm’s wealth managers

A former risk officer for Morgan Stanley (MS) (MS) Smith Barney LLC sued the firm over claims he was unfairly fired for reporting securities “flipping” by one of the firm’s wealth managers.

US cancels reverse FACTA laws for non-residents

The move has stirred considerable opposition in Washington and from wealthy non-residents living in the US – and lawmakers buckled under the pressure in the fear that bringing in the rule would see a massive outflow of foreign investment.

Fatca deadline looms for international banks

The tales of how difficult the bank found it to recover account files from branches around Mexico when law enforcement agencies requested them, and the details of minimal documentation on thousands of accounts opened in a virtual branch in the Cayman Isla

Legal, Regulation & Compliance