Managers of Wealth Americas

Central banks forecast more gold purchases, fewer US dollar reserves in years ahead

Respondents expect the share of other currencies, such as the euro and renminbi, will also increase over the same five-year period.

US House bill puts policy pressure on renewables

The House-approved OBBB heightens scrutiny on foreign sourcing for entities seeking tax credits.

State Regulators Claim Edward Jones, LPL, Others Overcharged Retail Customers

RBC, Stifel and TD Ameritrade were also among the settling firms.

SEC Weighs Harmonizing RIA, B/D Mandatory Arbitration Rules

The commission’s Investor Advisory Committee recommended the SEC amend its advisor rules on mandatory arbitration clauses

Regulators Prepare to Ease Post-Financial Crisis Banking Rules

As Politico noted, the efforts mark a major shift from last year, when regulators under President Joe Biden were advocating a plan that would require big banks to have even larger capital cushions, much to the industry’s dismay.

RBC and CIBC ramp up provisions for loan losses amid higher risks stemming from trade and policy uncertainty

In the same quarter last year, RBC reserved $920-million in provisions.

Why you shouldn’t focus on tariffs when expanding to the US

Businesses don’t expand to the US for the short term.

Belgian data transfers to US ‘breach GDPR’

The transfers at issue were made under bilateral agreements between some EU states and the US that cover the US Foreign Account Tax Compliance Act (FATCA).

Dozens of Houston-based wealth management employees to be laid off by NY-based firm

Atria Wealth Solutions plans to lay off more than 50 Houston employees.

Bank of America ordered to pay $540 million in long-running lawsuit from the FDIC

Back in 2017, the FDIC accused Bank of America of refusing to pay over $500 million in assessments

U.S. Bank Deregulation a Near-Term Neutral but Poses Longer Term Risks

Conversely, streamlining regulatory agencies or updated Basel III Endgame capital framework will require inter-agency cooperation, stakeholder buy-in and in some cases, legislation.

Decision Notice - CIRO Sanctions Gary Edmond Perron and Cumberland Private Wealth Management Inc.

As part of the settlement, Gary Perron admitted to having failed to disclose and seek pre-approval for activities related to the transfer of shares

Fed independence concerns ease

Wells Fargo Confirms Termination of 2018 CFPB Compliance Consent Order

Wells Fargo is a different and stronger company today

UK’s FCA to open first ever offices in US and Australia

Major international investors ‘want easier access to us’

LPL Expands Legal Battle Against Ameriprise In New Lawsuit

LPL claims Ameriprise “has sunk to a new low” by sending out allegedly “misleading” notifications about a data breach.

SEC to Review AUM Threshold for State Advisors

Uyeda said the number of advisors had grown by about 45% to 15,411 since Dodd-Frank’s compliance date in 2012.

Santander secures Canadian banking license

Santander, which has 168 million customers globally, has a major presence in the Americas, and is also a more prominent lender in the U.S. than other European competitors.

Appeals Court Overturns $93M Decision Against Commonwealth

The decision in the case initially filed by the SEC in 2019 comes the same week that LPL Financial announced it would acquire Commonwealth Financial Network in a $2.7 billion cash deal.

Cambridge Investment Research Associates To Pay $15M In SEC Revenue-Sharing Conflicts Case

The SEC accused Cambridge Investment Research's RIA business of “breaching its fiduciary duty” in recommending certain mutual funds and money market sweep funds.

Legal, Regulation & Compliance