Managers of Wealth Americas

No let up for law firms from the regulators

Partners and managers at law firms face a constantly shifting regulatory picture from the regulators as Covid-19 continues to make its presence felt both professionally and personally.

BofA Stock price – Bank of America, Citi trim CEOs’ pay

Citigroup noted the “extraordinary effect” on macroeconomic conditions in the US and globally.

Venezuelan tied to epic corruption case funneled millions into secretive Luxembourg companies

These Venezuelan defendants have been charged here because federal investigators have collected evidence showing they used the U.S. banking system and real estate market to hide their allegedly tainted assets.

US Beneficial Owner Disclosure Rule

A beneficial owner per the definition of the Act is any individual who, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise exercises substantial control over an entity, or owns or controls 25% or more of th

Maples Group Recognised as Montreal Top Employer

Winners were chosen for their commitment to providing crucial support to employees with a focus on health benefits, time off policies and support for local communities.

Financial Institutions Want More Clarity on Anti-Money-Laundering Changes

What changes will come as a result of the new rules and legislation was top of mind among the professionals surveyed, said Kieran Beer, chief analyst at ACAMS.

What Is the Fate of the New Marketing Rule for Investment Advisers?

This Legal Update provides further detail on the rule and discusses what may happen with it going forward.

Wealth managers await legal fallout in wake of $1.8B fraud case

Investigators say the investors are at risk of losing everything.

Jamie Dimon ignores his own advice about workers and shareholders

At the time, Dimon said that the new policy “will help to set a new standard for corporate leadership.”

BofA Divided as Bankers Cry Foul Over Special Bonus Treatment

People familiar with the situation described an internal drama unfolding over the past couple of weeks.

Bank of America divided as bankers cry foul over special bonus treatment

Bank of America is torn by long-simmering jealousies and divisions among its staff of more than 200,000, many dating back to the shotgun marriage with Merrill Lynch in the 2008 financial crisis.

Renouncing American Citizenship Hits All-Time Record

Adding fuel to the fire is FATCA, the Foreign Account Tax Compliance Act.

Ogier advises on $241.5 million ITHAX Acquisition Corp SPAC

The company’s units commenced trading on the Nasdaq Capital Market (Nasdaq) under the ticker symbol “ITHXU” on January 28, 2021.

J.P. Morgan Seeks to Handcuff Broker who Joined Merrill Lynch

He had been managing about $143 million for 352 clients when he left the bank.

AIG pays US$12m fine in NY pension transfer probe

AIG will also transfer the handling of such transactions to a New York-based subsidiary, the regulator added.

Why America Is the Leading Jurisdiction For Trusts

Legal, regulatory, and political systems have changed so radically over the last decade that storied jurisdictions are quickly losing their usefulness and relevance.

U.S. Corruption Levels At Their Worst Since 2012

The CARES Act coronavirus relief package, rolled out in March, disproportionally helped millionaires thanks to a tax loophole.

The US beneficial ownership law has its weaknesses, but it’s a seismic shift

Due to the limited scope of the Corporate Transparency Act and numerous exceptions in its application, we cannot yet conclude that the US is practicing effective beneficial ownership registration.

Kennedy Lewis Investment Management Closes Second Opportunistic Credit Fund with $2.1 billion of Commitments

The Firm also partners with high growth companies that are causing disruption, providing structured capital solutions to fit their needs.

New Paraguay law extends withholding tax to digital services

The law specifies that, as of January 1, resident taxpayers who provide digital services are subject to income tax and VAT.

Legal, Regulation & Compliance