Managers of Wealth Americas

The Anti-Money Laundering Act of 2020

Congress also increased penalties for violating the BSA.

A Few Takeaways from Two Recent NY Tax Whistleblower Decisions

Understanding the application of the NYFCA to these types of claims requires more judicial guidance—and subtle aspects of recent decisions have the potential to shed new light on the application of the NYFCA to tax claims in court.

SEC Fines Syracuse Firm For Failing to File Form CRS

One securities attorney said SEC staff will likely continue identifying firms that did not file and deliver their disclosure forms on time, saying it was the “lowest-hanging fruit” of CRS-related enforcement actions.

United States: Challenges expected in US implementation of OECD agreement on global tax reform

While this agreement is a key milestone in the process, there is still a great deal of technical work ahead, and implementation of the agreement—targeted for 2023—will have its own challenges, including in the US.

CFTC Awards Nearly $200 Million To A Whistleblower - Largest Award To A Single Whistleblower

The whistleblower’s claim in connection with a third related action by a state regulator was denied because the whistleblower’s information was never shared with the state regulator.

Jurisdictions under Increased Monitoring - October 2021

The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions, but encourages its members and all jurisdictions to take into account the information presented below in their risk analysis.

Goldman Sachs Cleared to Own All of China Unit

U.S. bank has operated a Chinese joint venture for 17 years

US Securities and Exchange Commission Increases Focus on Cybersecurity

These enforcement actions highlight the SEC’s attention to cybersecurity and its scrutiny of written documentation and disclosures following incidents.

Latham & Watkins Advises Chilean Issuer, AME and EDF on Innovative US$980 Million Portfolio Financing

A multi-disciplinary team from the firm’s Project Development & Finance, Latin America, Tax, and Credit Derivatives practices advises on the largest non-recourse transaction in Chile to date in 2021.

Founders of Crypto ICO Plead Guilty to Tax Evasion After Raising $24 Million from Investors

Instead of fulfilling their promises to these investors, the defendants used Bitqyck funds on personal expenses, including casino trips, cars, luxury home furnishings, art, and rent.

Goldman, Morgan Stanley Sued Over Archegos-Linked Block Trades

This was followed by a $3.9 billion sales of shares in ViacomCBS Inc., Discovery Inc., Farfetch Ltd., iQiyi Inc. and GSX Techedu Inc.

DOJ Announces New Civil Cyber-Fraud Initiative

Deputy Attorney General Monaco called for Congress to designate a single mechanism where victims can file reports to the federal government to be shared immediately with the DOJ and US Department of Homeland Security.

Investors are Paying Attention to Class Action Settlements. Are Their Advisers?

Overall, we are watching asset recovery trends continue upwards.

Becoming an 'Accredited Investor' is Finally About More Than Being Rich

The new language extends qualification in a broad sweep to include those who can demonstrate something ultimately much more valuable than the sum of their personal assets.

Wall Street Enforcer Becomes First Black U.S. Attorney for Manhattan

Damian Williams is taking charge of the office known for being the nation’s most aggressive prosecutor of white-collar crime.

DOJ Fires Shots Across the Bow; Announces Two Major Cyber Initiatives

The first announcement is that the DOJ will be launching its own Cyber-Fraud Initiative and will pursue civil charges against companies that act as government contractors and fail to meet cybersecurity requirements.

Rates Unchanged, But Gradual Liquidity Withdrawal

Global central banks across the world have indicated taper over the last month.

Nasdaq makes it more difficult for companies based in “restrictive markets” to list

Companies that are public in the United States are required to file audited financial statements with the SEC.

Aspen connections unearthed in offshore money investigations

Part-time resident, Pitkin County properties pop up in probe looking at ways to hide wealth in shell companies

Merrill to Pay $850K FINRA Fine Over Short Sale Violations

From September 2013 until July 2016, Merrill violated Rule 204 of Regulation SHO and FINRA Rule 2010

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