Managers of Wealth Americas

Swiss Firm in Panama Papers Charged in Transatlantic Stock Scam

Firm, executives accused of enabling microcap ‘pump-and-dumps’

Faegre Baker Sued by Crypto Fund Manager

The suit against Faegre Daniels alleges the firm advised the plaintiffs that “Crypto Assets are not securities” and to thus structure the fund’s business “accordingly.” The advice was “erroneous,” the complaint sa

SEC Proposes Update to Accredited Investor Definition that Would Make Private Markets Available to More Investors

The proposed amendments would also revise the definition of a “qualified institutional buyer” (QIB) in Rule 144A and expand the list of entities able to qualify as QIBs.

The Costs of Compliance – Expectations for Bending the Cost Curve

A Financial Crime/AML and Compliance Risk Management Leader and Advisor in Banking and Financial Services for more than four decades

FINRA Fines Five Firms Over Custodial Accounts for Minors

FINRA says that between 2014 and 2018, the five firms failed to properly monitor custodial accounts for minors to ensure that assets were transferred to beneficiaries once they came of age.

Regulator Seeks Probe Over Korean Hedge Fund’s U.S. Investment

Lime Asset invested in U.S. fund halted by SEC: Korea’s FSS

Law Firms Accused: A 2019 Roundup of Controversies

Many Big Law firms embroiled in lawsuits this year

Treasury Fails to Add Public Reporting Requirement to 'Roth for the Rich'

With that legislation, Congress identified capital gains tax relief as a carrot to lead investors to buy stakes in economically-neglected U.S. neighborhoods.

Brazil proposes central bank bill for financial companies

Only as a last resort would the government step in and provide a publicly funded bail-out, according to the bill.

Amended FINRA IPO Allocation Rules to Take Effect on January 1, 2020

The amendments take effect on January 1, 2020.

The SEC Proposes Amendments to the Accredited Investor Definition

The SEC’s proposals represent a valiant attempt to strike a balance among these competing views, by recommending sensible but limited modifications that may be helpful in a variety of exempt offerings.

Costa Rica: All foreign entities must comply with the filing before the Registry of Ultimate Beneficial Owners

Should the obligated entities fail to comply with the filing by January 31, 2020, they will be subject to penalties and fines that may cause a negative impact on any and all interests born in Costa Rica.

Further Consolidated Appropriations Act of 2020—A summary and view from SS&C Retirement Solutions

The SECURE Act defines eligible designated beneficiary as a spouse or minor child who is disabled or chronically ill

Credit Suisse hit with $6.5 million U.S. fine for supervisory lapses

In settling this matter, Credit Suisse neither admitted nor denied the charges, but consented to the entry of FINRA’s and the Exchanges’ findings.

Ex-Akin Gump Lawyer 'Blindsided' by Allegations She Used Client Funds For Personal Reasons

"The allegations made in the complaint are not an accurate characterization of the work I performed for this client under the supervision of the team," Heidi Liss said in a statement.

Private Client Services 2019 Year-End Advisory

The federal estate, gift and GST tax rate will remain at 40%.

Goldman Sachs 'close to $2bn settlement' over 1MDB scandal

Reported deal between bank and US Department of Justice would end investigation

Akin Gump Lawyers Used Client Money for Cayman Islands Vacation, Broadway Tickets

An internet domain company is seeking at least $25 million, alleging the firm's lawyers took advantage of an impaired CEO.

SEC proposes to expand definitions of accredited investor and qualified institution buyer to increase private capital markets participation

Corresponding changes are also proposed to the qualified institutional buyer definition for institutions that qualify for accredited investor status when they meet the existing $100 million in securities owned and invested threshold under Rule 144A.

MetLife Agrees to $10 Million SEC Fine Over Pension-Related Accounting Violations

Lapses resulted in the insurer’s failure to pay thousands of workers their monthly pension benefits

Legal, Regulation & Compliance