Managers of Wealth Americas

NYDFS issues virtual currency customer service guidance

Consumers have a right to a transparent and timely process for resolving complaints and answering questions

Appleby Advises On RF Acquisition Corp II USD$100M Initial Public Offering

The Company intends to focus its target search on businesses in Asia within the deep technology sector, including artificial intelligence, quantum computing, and biotechnology.

St Kitts PM says he is aware of CBI-related lawsuits

Under the CBI, foreign investors are granted citizenship of the twin island Federation in return for making substantial investments in the socio-economic development of the country.

Ex-Citi banker says she was fired for refusing to give false data to regulator

The lawsuit alleges that Selva wanted to hide information because it would make the bank "look bad."

Abrupt shutdown of financial middleman Synapse has frozen thousands of Americans' deposits

Synapse filed for Chapter 11 bankruptcy protection in April and has shut down its services to some of its fintech or bank partners

Important considerations surrounding the FTC ban on noncompete contracts

The new rules will require firms to undergo an exhaustive review of employment contracts and practices regarding talent retention

Top US banking regulator offers resignation after toxic workplace report

Gruenberg has led the FDIC on and off since 2005, under both Republican and Democratic presidents, and was recently reappointed to the regulator's top job by President Joe Biden.

US regulators reconsider capital hike for big banks, WSJ reports

Top officials from all three agencies involved in the pending capital rules

The Fed Reportedly Backing Off Tougher Capital Requirements

The report also argues the move marks a shift in the balance of power between banks and regulators, in which the Fed had historically held the upper hand.

SEC issues Marketing Rule Risk Alert

Although most Advisers did seem to adopt and implement policies to comply with the updated rule, the SEC’s Division of Examinations staff observed a number of non-compliant practices, the most salient of which are summarized below.

Reed Smith advises Fasanara Capital on groundbreaking private credit on-chain securitisation

The real-world assets will then be used as collateral for a token issuance by the Luxembourg SPV to accredited investors in the UK and the U.S.

Canada fines Binance C$6m for AML violations

The company also failed, on thousands of occasions, to report large virtual currency transactions of C$10,000 or more in the course of a single transaction.

Former mutual fund dealing rep. banned, fined $75K by CIRO

Completing KYC forms outside registered scope among violations of rules

J.P. Morgan Sues 16 Ex-First Republic Brokers Over Repayment of Recruiting Loans

Absent immediate injunctive relief, Plaintiffs will be forced to unnecessarily waste time and resources

Tracking the top trends in fraud

Leading forensic accountants share their insights on the schemes most likely to affect CPAs and their clients.

Morgan Stanley Dives As Regulators Open Wealth Arm Probes

The regulators are investigating whether Morgan Stanley has properly investigated potential clients and their sources of wealth, as well as how it monitors their financial activity.

Investments & Wealth Institute Announces Changes to its CIMA® Certification

The Certified Investment Management Analyst® (CIMA®) certification program has been updated to reflect the current knowledge, skills and capabilities needed for today’s advanced practitioner.

TD Asset Management Inc. Announces the Termination of six TD ETFs

Prior to the Termination Date, TDAM will, to the extent reasonably possible, sell and convert the assets of the Terminating ETFs to cash.

FinCEN and AML updates: More requirements for fund managers on the horizon?

Ongoing training required for appropriate persons

Bank of America must face overdraft fee refund lawsuit

The second-largest U.S. bank began the program five months earlier to address the pandemic's impact on its 66 million individual and small business customers.

Legal, Regulation & Compliance