Managers of Wealth Americas

Deutsche Avoids Dodd-Frank Rule

Deutsche Bank AG changed the legal structure of its huge U.S. subsidiary to shield it from new regulations that would have required the German bank to pump new capital into the U.S. arm.

How Facebook Billionaires Dodge Mega-Millions In Taxes

Moreover, Securities & Exchange Commission filings show Levchin still has 3.9 million shares of Yelp, now trading near $22, in his Roth. So it appears his tax-free “retirement” kitty is worth at least $95 million—and maybe a lot more

Top US bank wins dismissal of Ponzi scheme accusations

The 9th U.S. Circuit Court of Appeals said on Tuesday that investors who bought fraudulent certificates of deposit from Millennium did not pursue all remedies with the Federal Deposit Insurance Corporation (FDIC) as required by federal law or show that JP

Risks are increasing in quantity and severity - PwC

While concerns about further economic uncertainty continue to be top of mind for business leaders, issues such as fraud and ethics, mergers and acquisitions, large programs, new product introductions, and business continuity were identified among the top

Vatican Bank Image Hurt as JP Morgan Closes Account

The move is a blow to the Vatican's drive to have its bank included in Europe's "white list" of states that comply with international standards against tax fraud and money-laundering.

SEC Credits Former Axa Rosenberg Executive for Substantial Cooperation during Investigation

The SEC credited the senior executive for his cooperation by declining to take enforcement action against him based on certain factors identified in itsPolicy Statement Concerning Cooperation by Individuals in its Investigations and Related Enforcement A

Incoming SJ Berwin senior partner eyes international expansion

Kon - a key negotiator in the Proskauer talks - yesterday reaffirmed the firm’s plans to revisit the opportunity with another firm.

Ex-NY hedge fund head who fled admits $4M swindle

Brian Kim also admitted Friday that he stole hundreds of thousands of dollars from his condominium board and fled to Hong Kong as a trial loomed.

Goldman Employee Was Source of Insider Tips, Gupta’s Lawyer Says

Gary P. Naftalis, a lawyer for Mr. Gupta, said during the hearing that the government has secretly recorded telephone conversations of a Goldman executive tipping off Mr. Rajaratnam to confidential information about Intel and Apple.

Klayman & Toskes continues action against UBS

The Securities Arbitration Law Firm of Klayman & Toskes has announced that it is continuing to pursue securities arbitration claims against UBS Financial Services UBS with the Financial Industry Regulatory Authority's ("FINRA") Office o

Swiss “Tax Evasion Advisers” Hid Assets, Used Kids

Two Swiss men who acted as “full service tax evasion advisers” helped U.S. clients hide hundreds of millions of dollars from tax authorities, while delivering cash in hotels and through a child courier, prosecutors said.

Alcoholics Anonymous Reveals Insider Trading

The U.S. Securities and Exchange Commission says in its complaint that McGee received information about the merger from a Philadelphia Consolidated executive following an AA meeting they both attended.

Duff & Phelps appoints new leader of financial crisis disputes practice

The development follows a series of high-profile engagements in which Duff & Phelps has advised clients on complex, dispute-related matters throughout the recession and ongoing recovery.

Goldman Continues To Fight $20.6M Bayou Award In U.S. Appeals Court

The bank wants the U.S. Court of Appeals for the Second Circuit to toss out the arbitration award, which was confirmed by a federal judge in late 2010. It argues the panelists ignored certain legal principles in deciding the case.

Lawyer for Banks Accuses MBIA Chief of Insider Trading

When MBIA disclosed the restructuring, its stock price popped about 30 percent, rising to $4.51 a share on Feb. 18, 2009, from $3.48 a share a day earlier. Its stock closed at $9.61 on Friday.

US Highways Bill Takes Aim At Tax Havens

The Democrat-led Senate has adopted an amendment, which would provide a range of further measures for the Treasury Department to take against foreign governments and financial institutions that "significantly impede United States tax enforcement&rdqu

US files $25 billion settlement with banks on mortgage abuses

The Department of Justice, in announcing the filing with the U.S. District Court for the District of Columbia, called it "the largest federal-state civil settlement ever obtained."

Dodd-Frank confusion reigns among buy-side asset managers

Rule Financial has announced the results of a study into the impact of the Dodd-Frank Act on the buy and sell-sides.

Morgan Stanley Broker Put on Leave Amid NY Madam Probe

The broker, David Walker, spoke with officials at Morgan Stanley yesterday and characterized his relationship with alleged “Upper East Side madam” Anna Gristina as “social” and said the two were “friends,” according to

SEC obtains asset freeze against Long Island investment adviser

The SEC alleges that Brian Raymond Callahan of Old Westbury, NY, raised more than USD74 million from at least two dozen investors since 2005, promising them their money would be invested in liquid assets.

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