Managers of Wealth Americas

Swiss bank Pictet gave data to U.S. in tax probe

Pictet said in a statement the data handover took place in November 2010 via the Swiss tax office, which had received a request for assistance from its U.S. counterparts.

Vernon Healy Files Another $800,000 in Claims Against UBS

The promised principal protection constituted a gross deception because the Lehman notes represented nothing more than unsecured loans by the investors to a financially faltering Lehman, according to the claims.

HSBC Bank USA is suspected of giving free rein to money launderers

The extent of that failure is laid out in confidential documents reviewed by Reuters that originate from investigations of HSBC's U.S. operations by two U.S. Attorneys' offices.

RBC to Pay Massachusetts Up to $3.2 Million in ETF Claims

Finra warned brokers in June 2009 that leveraged and inverse ETFs were difficult to understand and not a good fit for long- term investors.

HSBC’s Swiss Wealth Unit May Face ‘Significant’ U.S. Fine

HSBC Holdings Plc’s Swiss private bank said fines and penalties relating to a tax-evasion probe by the U.S.as it published figures showing clients outflows in the second half of last year.

Morgan Stanley sued by asset management fund over securities

Allegations against the bank include fraud, fraudulent inducement and negligent misrepresentation over the sale of the securities, according to documents filed in New York State Supreme Court yesterday.

Goodwin Procter expands private equity practice

Nissan and Nugent have represented clients across a broad spectrum of sectors, including the manufacturing; entertainment; Internet; technology and software; consulting; and product distribution industries.

Law firm Dewey & LeBoeuf loses seven more partners

Dewey removed the partners' names from its website between Friday and Monday.

Bank of America directors fight back over $20 million settlement

The accord would resolve a New York lawsuit claiming the bank's board, including former Chief Executive Officer Kenneth Lewis, had hidden how Merrill was headed toward an eventual $15.84 billion quarterly loss, even as it was paying $3.6 billion of b

HSBC’s Geneva Bank Gave Employee Names to U.S., Le Temps Reports

The firm notified staff and created a telephone hotline for client advisers to check whether they are on the list, the Swiss newspaper said.

Regulators close 5 banks in 4 states

Regulators also closed Inter Savings Bank in Maple Grove, Minn., Plantation Federal Bank in Pawleys Island, S.C., and Palm Desert National Bank in Palm Desert, Calif.

New York prosecutors probe law firm Dewey & LeBoeuf

A source familiar with the probe said a preliminary investigation was prompted after a group of Dewey partners asked District Attorney Cyrus Vance to examine "financial irregularities" at the firm.

Rand Paul Seeks to Block Tax Treaty Change on Swiss Accounts

Senator Rand Paul is blocking an amendment to a U.S.-Swiss tax treaty, slowing Switzerland’s handover of data on thousands of Americans with bank accounts hidden from the U.S. Internal Revenue Service.

Goldman Sachs banker in California said to be target

Federal prosecutors in New York this month disclosed that a Goldman Sachs employee was under investigation for passing illegal tips to Rajaratnam.

TD Says Lawyer Falsely Told Judge Document Didn’t Exist

TD Bank also replaced the law firm, Greenberg Traurig LLP, which represented it during a January trial in which the bank was sued by investors who claimed it should have detected money laundering in accounts Rothstein held there.

Clifford Chance Elects Four New Partners in the Americas

Clifford Chance has announced the election of 27 lawyers to its global partnership, including four from the Americas region

Swiss bank ordered to forfeit $16m in US tax case

Federal prosecutors in Manhattan labeled Wegelin & Co. a "fugitive" in February after it failed to appear a court hearing in a separate criminal case against the Swiss private bank.

BofA Directors Must Defend $20 Million Merrill Buyout Settlement

Bank of America Corp. directors, who were sued by shareholders for allegedly paying too much for Merrill Lynch & Co., must defend a proposed $20 million settlement of the claims in federal court in New York.

SEC Charges British Twin Brothers Touting "Stock Picking Robot" in Internet Pump-and-Dump Scheme

The Securities and Exchange Commission today charged twin brothers from the U.K. with defrauding approximately 75,000 investors through an Internet-based pump-and-dump scheme in which they touted a fake “stock picking robot” that purportedly i

MIT prof and son agree to pay $5M in hedge fund fraud

The Securities and Exchange Commission has charged a Boston-based father-son duo of hedge fund managers and their firms with securities fraud for misleading investors about their investment strategy and past performance.

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