Managers of Wealth Americas

Former OHL club owner ready to take his ‘lumps’ for Ponzi scheme

In an exclusive interview with the Star, Wise told his story, trying to explain how his life took so many wrong turns.

Financial reforms: Regulators aim to make ‘middle office’ a safer place

This was illustrated in early April, when the US futures regulator filed a lawsuit against Royal Bank of Canada.

Swiss banks to hand over staff names in U.S. tax row: report

In the latest attempt to end the long-running dispute, Switzerland's Federal Council has now authorized banks to hand over email traffic in connection with such clients to U.S. prosecutors, the Tages-Anzeiger newspaper reported.

The Big Flaws in Dodd-Frank

His latest project is the forthcoming Fragile by Design: Banking Crises, Scarce Credit, and Political Bargains, co-authored with Stanford University political science professor Stephen Haber; the book takes a fresh look at the connection between politics

BofA’s Merrill Wins $146.1 Million Judgment Over Derivatives

U.S. District Judge Richard Sullivan assessed the damages in a breach-of-contract suit involving a derivatives transaction in 2008, according to a filing dated April 10 in Manhattan.

Regulation of Non-U.S. Investment Advisers and Portfolio Managers Doing Business in the United States

While the primary purpose of the U.S. Congress in repealing the Private Adviser exemption was to require advisers to private funds to register, Congress created three more limited exemptions from investment adviser registration.

Baker & McKenzie names former prosecutors new partners

He was recently honored by the Federal Bar Association for his work investigating a complaint filed against a sitting U.S. district judge in New Orleans; in 2008, the judge was convicted and removed from office.

Stockbroker Goes To Prison But Morgan Stanley Customers Snooze And Lose

As a result of the above conduct involving an “unspecified unregistered security,” Claimants sought a rescission of their investment, or, in the alternative at least $150,000 in compensatory damages, punitive damages, interest, costs, expenses

UBS Likely to Win Ouster of Billionaire’s Suit, Judge Says

U.S. District Judge Andrew Guilford in Santa Ana, California today issued a “tentative” opinion rejecting Olenicoff’s lawsuit against Zurich-based UBS, the largest Swiss bank.

Lex Mundi Announces New Director of Professional Development

At Lex Mundi Ms. Fine will support 160 member firms in 120 countries in their member firms in their learning initiatives and will develop global training programs.

Fed fines Morgan Stanley over robo-signing

Morgan Stanley has acknowledged that it will be responsible for satisfying any civil money penalty that the Board of Governors could have assessed against Saxon for its conduct.

Billionaire on U.S. tax code: It's "a disgrace"

Billionaire David Rubenstein, co-founder of private equity firm The Carlyle Group, says he's willing to pay more in taxes, but lawmakers need to do their job and change the law.

Stealing customer info costs Ameriprise veteran his job, lands him in prison

A veteran employee for Minneapolis-based Ameriprise Financial Services has been sentenced to three years in prison for using his "limitless access" to customers' confidential information to steal more than $180,000 in a conspiracy entangled

U.S. Alongside China in Roll Call of Basel Bank-Rule Laggards

The group also called today for regulators to “keep up their efforts” to ensure that they meet a January 2013 deadline to adopt further requirements, known as Basel III.

Merrill Lynch Can't Stop Class of Black Bankers

A class of Merrill Lynch financial advisers who claim the firm denied them pay and promotions because they are black won another legal victory when the 7th Circuit declined to review its earlier order to certify the class.

SEC hits Pentagon with biggest fine on foreign group‎

The hedge fund of a Conservative Party donor has been fined $98 million for market abuse.

Merrill advisers win round in court

The class could include up to 700 advisers and trainees who worked at the firm since 2001.

Genworth Closes the Sale of Its Tax and Accounting Advisor Unit to Cetera Financial Group

Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, financial protection coverages, and independent advi

BofA’s Merrill Sued by Dexia Over Mortgage Securities

Dexia said in its suit that Merrill Lynch made similar misrepresentations concerning the securities the Belgian bank invested in.

SEC Registration Captures More Hedge Fund Advisers

That is about a 70 percent increase from the 750 advisers the agency said as recently as July that it expected to register.

Legal, Regulation & Compliance