Managers of Wealth Americas

US FFIEC Issues Joint Statement on Managing the LIBOR Transition

The FFIEC Statement highlights the financial, legal, operational and consumer protection risks that will result from the transition from LIBOR

IFC and Citi partner on Covid-19 risk-sharing support deal

The signing marks the extension of an existing facility, the IFC’s global trade liquidity programme (GTLP), initially set up in 2009, bringing the size of the facility to US$2bn.

Legal Job Gains Double in June, Sector Looks to Regain Footing

Legal sector adds 7,500 jobs despite worsening pandemic

New U.S. visa restrictions curb foreign hiring

It’s possible that the tightening of visa restrictions could lead to more offshore outsourcing in India and other countries, particularly since U.S. companies have grown more comfortable with remote work during the pandemic.

World Economic Outlook Update, June 2020

A Crisis Like No Other, An Uncertain Recovery

From the Tax Law Offices of David W. Klasing - Do You Need to File for Voluntary Disclosure if You Failed to Disclose Money Made Abroad?

Most foreign banks are complying with FACTA and voluntarily reporting U.S. taxpayers that have offshore bank accounts and annually supply such information to the IRS.

BNY Mellon to Deliver Real-Time Account Validation Services to Corporate and Bank Clients in the U.S.

Through this new solution, BNY Mellon will enable clients to validate the status and owner of accounts across the U.S. in real-time to provide increased risk and fraud prevention capabilities prior to the execution of payments.

BIS Innovation Hub to expand to new locations in Europe and North America

The BIS will also form a strategic partnership with the Federal Reserve System

US attempts to escape 'shutdown economy' with flawed, unequal policy

How does this make the average American feel?

IRS to Begin Hundreds of High-Net-Worth Examinations in July

These new examinations will be accompanied by a new IRS perspective as to how to effectively, and completely, examine high-net-worth individuals.

A Decisive Tax Defeat for the Multinationals?

Altera, owned by Intel, just lost a major case on corporate offshore tax evasion.

Wells Fargo Issues Statement Regarding the Federal Reserve’s Stress Test Feedback

There remains great uncertainty in the path of the economic recovery and though it’s difficult to accurately predict the ultimate impact on our credit portfolio, our economic assumptions have changed significantly since last quarter.

SEC Staff Eases Paper Filing Requirements Due to COVID-19

The second statement relates to Regulation S-T regarding the authentication document retention requirements under Rule 302(b).

Financial Markets and Regulators Are Still in the Dark on Climate Change

Moreover, like the coronavirus pandemic, the crises that climate change is expected to cause are foreseeable, even as the specific effects of climate change are only starting to be felt.

CAPSA releases new agreement on multi-jurisdictional pension plans

FSRA sets rules for commuted value transfers

Dominica Expands Definition of Dependant Under Its Citizenship by Investment Programme

The new rules qualify children aged 16 to 30, parents and grandparents of the main applicant or their spouse for citizenship

U.S. Senate Passes Hong Kong Bill with Bank Sanctions

Uncertainty continues to loom over the proposed national security law in Hong Kong.

Baker McKenzie Delays New Associate Class Over Virus Impact (1)

Baker McKenzie said it remains committed to providing the associates with “a robust practice and professional development experience” once they join the firm.

Four Mayer Brown partners recognized as 2020 “Women Leaders” by IFLR1000

Ms. Pinedo is a co-leader of the firm’s Global Capital Markets practice. She concentrates her practice on securities and derivatives

UBS Expands Client Offering for Separately Managed Accounts to Include Third Party Asset Manager Strategies With No Additional Fees

UBS is committed to offering an open and transparent platform

Legal, Regulation & Compliance