Managers of Wealth Americas

UBS Sued for $500 Million by Chinese Tycoon Over Deal Gone Awry

It’s not the first time Guo has brought such a lawsuit, after failing to get the claim heard in New York.

OFAC advisory notice highlighting potential sanctions risks stemming from dealing in high-value artwork

The Government usually takes this step—issuing a warning—as a precursor to embarking on some sort of action so that a target cannot later complain that it was not put on notice of the risks associated with violating a sanction.

JP Morgan agrees to pay at least $800,000 in back wages to settle a lawsuit that accused the bank of underpaying at least 93 women

The lawsuit also alleged the company did not ensure there was a path to fair pay.

Florida wealth adviser 'Dr. Cash' hit with fraud charges

According to charges here unveiled by the Department of Justice's Manhattan office, Chalk used the "Cash" name to hide a decade-old conviction for fraud-related offenses in New York.

JPMorgan Faces Possible Fine Related to Internal Controls

A JPMorgan spokeswoman declined to comment. An OCC spokesman also declined to comment on the bank’s disclosure.

Wells Fargo Lifts Hiring Bonuses for Advisors Hitting Asset-Transfer Targets

It will pay an additional 50% of T-12 to brokers who transfer 70% of their assets by the end of their sixth month, and another 30% at the end of each of their first, second and third years for hitting further asset-growth targets.

Government Revises Base Difference Rules in New Foreign Tax Credit Regulations

In particular, these regulations limit the situations in which taxpayers are prevented from claiming foreign tax credits attributable to base difference items.

Focus Financial Partners Announced that Oak Asset Management Will Join Partner Firm Vestor Capital

This transaction will help expand our local presence with a partner that represents an ideal strategic and cultural fit for our firm.

How Will Increased Privacy Regulation Affect Bank Marketing?

Ron van Wezel, senior analyst for the Aite Group, says privacy and data protection are becoming central to bank policies.

Wake-Up Call? SEC Enforcement Action Against Trust Company for Unregistered Collective Trust Funds

This Legal Update provides further detail on this development, which banks and advisers involved in the operation or maintenance of collective or common trust funds would be wise to carefully consider.

Crypto Crime Enforcement Trends: The US Department of Justice steps up

The Framework examines the DOJ’s role in prosecuting related misconduct, including applicable federal statutes, key partnerships, and enforcement challenges.

Hogan Lovells makes over 40 business services staff redundant

Like many other firms, it's a bit of a rollercoaster of ups and downs for staff due to the pandemic.

FBI investigating Hunter Biden over money-laundering allegations

During a hastily scheduled press conference before the presidential debate, Bobulinski showed reporters three phones that spanned 2015 to 2018, saying they were evidence that he would provide the FBI.

Law firms: is COVID-19 the catalyst for change?

Property, employment, family, private client, commercial and corporate law are all experiencing some increase in activity—with personal injury litigation as the outlier

Proskauer Acts for Newbury Partners in Strategic Minority Transaction

Proskauer has represented Newbury Partners on a broad range of matters since its inception in 2006.

IRS Releases Final Withholding Tax Regulations on Sales of Partnership Interests

This Legal Update provides an overview of the Final Regulations and highlights departures from the Proposed Regulations.

St Kitts and Nevis' Citizenship by Investment Programme Offers Wealthy Americans a Plan B

Americans are looking for a safe and secure route to alternative citizenship offering a Plan B in the face of unpredictability.

UK Regulators Fine Goldman Sachs International $126 Million for 1MDB ‘Failures’

The Financial Conduct Authority and the Prudential Regulation Authority said the firm allowed severe misconduct to go unaddressed.

SEC proposes exemption from broker-dealer registration for finders

There will be a 30-day comment period on the prosed exemption, with comments due to the SEC by no later than November 12, 2020.

First comprehensive digital asset wealth management platform receives regualatory clearance

Opalesque Industry Update - Two Ocean Trust, a Wyoming-chartered trust company that provides wealth management services for high-net worth individuals, family offices, and advisers, announced the launch of a comprehensive suite of digital asset products a

Legal, Regulation & Compliance