Managers of Wealth Americas

Democrats introduce bill to force corporations to disclose tax havens

The legislation aims to show which multinationals are avoiding their corporate taxes, and give investors information about the risks taken by the companies.

Wells Fargo to pay US $3 billion for phony-account scandal

Settlement includes agreement with DOJ resolving criminal investigation

Canada mulls publicly accessible beneficial ownership registry

Under the consultation, this would be extended to a publicly accessible registry or registries: either a single, centralized registry, or a network of provincial and territorial registries accessible through a single portal.

Franklin Templeton to acquire Legg Mason in all-cash deal of $4.5bn

In addition, the combined platform creates a strong separately managed account business.

Tulsa man charged with defrauding banks, investors of $5M

Among the phony assets were life insurance policies that Mulder represented to have been worth hundreds of thousands of dollars.

American Bar Association Wants Protections For Marijuana Banking And Lawyers Working With Cannabis Clients

A bill that would accomplish this goal was approved by the House of Representatives last year

IRS urged to offer more cryptocurrency guidance

The IRS has seen the need for taxpayers to report on their crypto trades and holdings

Delaware issues 56 captive licenses in 2019

The state government will therefore be delighted to see Delaware’s captive population increase.

Wells Fargo Ends Mandatory Arbitration For Future Employee Claims of Sexual Harassment

Wells Fargo made the decision following internal dialogue and feedback from various stakeholders, including the proponents of a shareholder proposal.

No FATCA Relief For Accidental Americans

The exemption covers taxpayers who have not avoided tax filing wilfully.

UBS Partners With Clients to Design New UBS Financial Services iPhone App

The app also encourages clients to have more informed and enriched conversations with their UBS Financial Advisor to help them reach their personal financial goals.

Morgan Stanley Sued Over Website Access by Blind Woman

The case is at least the second filed against Morgan Stanley in the past two years

SEC proposes amendments to Regulation S-K disclosure requirements

The proposed amendments are intended to further the commission’s goals of reducing burdens on registrants and enhancing readability without compromising material information available to investors.

Cryptocurrency supporters welcome more regulation

Cyptoasset-focused stakeholders have formed groups in recent years to raise industry standards

Cybersecurity and Resiliency Observations

As markets, market participants, and their vendors have increasingly relied on technology, including digital connections and systems, cybersecurity risk management has become essential.

ABN AMRO Clearing Chicago Charged With Improper Handling of ADRs

The SEC’s order finds that ABN AMRO improperly borrowed pre-released ADRs from other brokers when it should have known that those brokers did not own the foreign shares needed to support those ADRs.

Axiom Announces Strategic Acquisition of Bliss Lawyers

Acquisition expands Axiom’s already extensive network of legal talent; provides Bliss clients and lawyers access to Axiom’s global reach and technology platform

SSGA to get tough with boards lagging on ESG

R-Factor generates ESG scores for more than 6,000 listed companies globally

Singapore and US reach agreement on financial data sharing

Ensuring that financial service suppliers can transfer data, including personal information, across borders by electronic means if this activity is for the conduct of the business of a financial service supplier.

M&T Bank Designated as a Best Place to Work for LGBTQ Equality

Achieves 100 percent score in 2020 Corporate Equality Index

Legal, Regulation & Compliance