Managers of Wealth Americas

Citigroup Feuds With Hedge Funds Over Botched Payment

Bank’s relationship with fund clients unraveled over a dispute about Revlon debt and an erroneous $900 million payment

Mirabaud Surfaces in Venezuelan Scandal

Mirabaud held at least $4 million for Abraham Shiera, a Venezuelan businessman who was indicted on conspiracy and corruption charges by U.S. prosecutors in connection to the oil scandal.

SEC Charges Fund Manager for Fraud in Securities Offering in Neiman Marcus Bankruptcy

The litigation is being handled by Alexander Vasilescu and Mr. Ceglio. The SEC appreciates the assistance of the U.S. Attorney's Office for the Southern District of New York and the Federal Bureau of Investigation.

Bogota Savings Bank and Gibraltar Bank to Merge

The merger is expected to increase Bogota Financial’s consolidated assets from approximately $738.7 million at June 30, 2020 to approximately $846.0 million, and more than double its branch network.

Marble Ridge Founder Dan Kamensky Arrested and Charged With Fraud

The U.S. Department of Justice accused the former Paulson & Co. partner of fraud and other charges in connection with the Neiman Marcus bankruptcy proceedings.

Citi becomes first US bank to win custody prize in China

Wall Street bank receives licence at a time of rapid growth in mainland funds market

TD enters into North American data-access agreement with Intuit

New agreement signifies alignment between TD and Intuit about access to customer financial data

SEC adopts final amendments to disclosure requirements under Regulation S-K

A chart summarizing the final amendments and the corresponding current requirements, with significant changes highlighted in bold, is included at the end of this alert.

ADNOC and Apollo-led Consortium Enter Into $5.5 Billion Real Estate Investment Partnership

Agreement is a continuation of ADNOC’s smart growth strategy to attract FDI into the UAE and to partner with leading global investors as it builds on recent successful infrastructure transactions

OCIE to Private Fund Advisers: How Many Times Do I Have to Tell You?

The Risk Alert addresses a number of themes that the SEC staff has previously addressed over the years1, which augurs heightened scrutiny on these themes in upcoming examinations.

DOL proposes rule to narrow scope of ERISA fiduciaries’ proxy voting

In its proposal, the Labor Department outlined permitted practices under which a plan fiduciary can adopt certain proxy voting policies and parameters reasonably designed to serve the plan’s economic interest.

Top regulator pushes ahead with plan to reshape banking, sparking clash with states

A charter would give these companies the ability to operate across state borders with a single set of rules, as well as to expand the suite of financial services they offer.

Barclays boss Jes Staley is dragged into the hunt for Jeffrey Epstein's cash as prosecutors demand to see copies of correspondence between them

There is no suggestion of any wrongdoing on the part of Mr Staley, or that he knew anything about Epstein's criminal activities.

Should Whistleblower Reward Laws be Capped?

Under this “soft” cap, if the SEC obtained over $300 million in sanctions from a fraudster, the whistleblower whose information triggered the enforcement action would be presumptively limited to the lowest percentage award (i.e., a 10 percent

What’s at Stake With the New SEC Whistleblower Rules?

The main proponent of the controversial proposals is the Chamber of Commerce, which has a long record of opposing every law, rule, or judicial precedent that helps whistleblowers.

Did the SEC Set the Bar Too Low for Private Market Investors?

Critics — including two SEC Commissioners — take issue with the new standards.

The DOL Addresses How Much Retirement Income A 401(k) Account Provides

These income estimates would be under two potential scenarios: for the participant as a single life income stream, and as an income stream that factors in a survivor benefit for a spouse.

Hightower Makes Strategic Investment in $1.3B Stearns Financial Group

The SFG team will continue to provide the professional financial planning, investment management and high touch service our clients have come to know and love, while Hightower brings back office support, advanced technology and NextGen training to our tea

SEC Adopts Rule Amendments to Modernize Disclosures of Business, Legal Proceedings, and Risk Factors Under Regulation S-K

The Commission also took into account the staff's experience with Regulation S-K arising from the Division of Corporation Finance's disclosure review program and changes in the regulatory and business landscape since the adoption of Regulation S

LPL Financial Welcomes Partner Firms Baldwin Capital Management and Langdon Capital Management

Langdon added that LPL’s self-clearing abilities will also make transactions very smooth for clients.

Legal, Regulation & Compliance