Managers of Wealth Americas

SEC charges JP Morgan affiliates $151 million

JP Morgan’s conduct across multiple business lines violated various laws designed to protect investors from the risks of self-dealing and conflicts of interest.

FinCEN adopts AML program requirements for SEC RIAs and ERAs

The rule applies to most SEC RIAs and SEC ERAs, with a few exceptions.

CFPB faces lawsuit over new open banking rules in bank pushback

The Bank Policy Institute and Kentucky Bankers Association have filed a lawsuit against the Consumer Financial Protection Bureau, alleging that the regulatory agency overstepped its authority on the release of new open banking rules

ABA continues push for FCC action on illegal texts

ABA’s letter follows a correspondence sent to the FCC last by 52 state bankers associations, which urged the agency to adopt the new rules.

Former OCC heads warn that state rules for national banks are ‘a troubling threat’

Illinois earlier this year enacted a state law barring interchange fees on the tax and tip portion of a debit or credit card transaction in the state.

EF Hutton Announces Withdrawal of Lawsuits by Joseph Rallo and David Boral

Both Mr. Rallo and Mr. Boral are pleased to put their dispute behind them and move forward with confidence that their new, separate business ventures will be successful.

TD Bank Group Announces Resolution of AML Investigations

Working in close cooperation with regulators and authorities; supporting efforts to bring money launderers to justice

TD Bank hit with $3bn in fines over AML failures

TD Bank will pay fines totalling approximately $3.09 billion

Elon Musk’s X pays US$5.2 million in Brazil fines to wrong bank account

The payment was made to settle a dispute with a Brazilian judge who banned the platform in August

Cooley Bolsters Antitrust and Competition Practice With Hire in Washington, DC

Morrison advises clients on antitrust compliance, investigations, and mergers and acquisitions review before federal and state agencies.

Holland & Knight Represents Nomura on a Private Placement of the Colombian Peso Equivalent of $50 Million for Payroll Lending in Colombia

Borrowers receive these loans – known as libranzas – through their employers and make repayments via payroll deductions.

The Fed's soft landing remains 'intact': Strategist

He notes that the market is also showing confidence in a soft landing

Federal Reserve issues FOMC statement

The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate.

Macquarie Asset Management statement on SEC settlement

The ARMBS Strategy was primarily invested in fixed income securities.

The first cut is the steepest: the Fed, market expectations and the dollar

The Federal Reserve has made its first interest rate cut since the pandemic, reducing rates by 50 basis points (bps).

B.C. regulator fines offshore crypto trading platform $500K, bans it from financial markets

A panel of the B.C. Securities Commission imposed the sanctions on LiquiTrade Ltd.

'Rather poor' communication by the Fed blamed for creating doubt in the market about rate-cut path

"The Fed went out of its way to put a half-point cut back on the table," said Lou Crandall, chief economist at Wrightson ICAP.

A year after reorg, progress at Citi comes in ‘fits and starts’

New penalties gave the bank focal points for its tech overhaul.

Well Fargo's new regulatory trouble may delay asset cap removal timeline, analysts say

Though the Office of the Comptroller of the Currency (OCC) did not fine the bank as it was working to fix the problems, analysts said the action could hurt its effort to tackle regulatory issues stemming from the 2016 fake accounts scandal.

Basel III: Special Conditions for Wall Street Banks

Similar efforts to weaken or delay regulations aimed at strengthening banking resilience are likely in other countries as well.

Legal, Regulation & Compliance