Managers of Wealth Americas

US SEC and lawyers seek more time in case against ex-DeVere duo

Request for information submitted to Malta’s attorney general by counsels for the defence

Supreme Court to decide if DB participants can sue when plan is not underfunded

When the participants questioned the investments involved, U.S. Bank replaced those amounts, causing the plan to be overfunded.

Chubb Announces New Policy on Coal Underwriting and Investment

"Chubb recognizes the reality of climate change and the substantial impact of human activity on our planet," said Evan G. Greenberg, Chairman and CEO of Chubb.

Credit Suisse is the sole bank tripped up by Fed stress test as rest get approval to boost payouts

The U.S. division of Zurich-based Credit Suisse has to fix problems the Fed found in its capital planning processes by Oct. 27, according to the Federal Reserve.

United States: US and French Authorities reach agreement on creditability of French CSG and CRDS taxes

US taxpayers that are subject to CSG and CRDS taxes should discuss this development with their tax advisors.

Ex-Merrill Lynch FA Suspended Over Alleged Loans from Clients

That complaint has since been settled, but the wirehouse terminated him in July 2017 over allegations that he had “accepted funds from a client without the Firm’s approval,” Finra says.

Multilateral Development Banks Allocated $43 Billion to Climate Finance in 2018

This is an increase of nearly $7.9 billion from the previous year

US regulators ask Deutsche Bank to clarify its "bad bank" proposal

The overhaul would also include shrinking or shutting equity and rates trading businesses outside of Europe, a source told Reuters.

Joint statement on opportunistic strategies in the credit derivatives markets

These opportunistic strategies raise various issues under securities, derivatives, conduct and antifraud laws, as well as public policy concerns.

Wyoming Updates its Trust Company Legislation, Allows for Two-Family Private Trust Companies

The new legislation governs the requirements and procedures for forming a new public or family trust company in Wyoming after July 1, 2019

It's unanimous: SCOTUS decision on historic tax jurisdiction case announced

While this decision is momentous, this will remain a hot topic.

Dana Incorporated Reduces Pension Liabilities while Fulfilling Benefit Obligations

Transaction enhances Dana's credit profile and further improves balance sheet

Wells Fargo, chaperone to breakaway brokers?

competitors TD Ameritrade, Schwab, Fidelity and Pershing all offer guidance or resources in a firm’s departure process when going indie — Wells' approach is more direct.

SEC Charges Five Asian Traders for Market Manipulation

The SEC alleges that trades involving these five seemingly unrelated individuals from three different countries accounted for 70% of the volume in MDDT over the period in which they traded.

U.S. charges four ex-executives at Canadian payments firm PacNet with fraud

Lawyers for the defendants could not immediately be identified.

College admissions scandal mastermind found fertile hunting grounds in wealth management world

Singer, who has since admitted to running the brazen college admissions scam that federal prosecutors brought down in March with criminal charges against dozens of people, was no stranger to Morgan Stanley or other big investment firms.

US Has Become “Go-To” Nation for Shell Company Formation: Senators

The draft legislation would task the Financial Crimes Enforcement Network (FinCEN) with approving transaction monitoring software, including in-house systems

Fairfield Sentry: Privy Council Confirms that New York Courts can Apply BVI Insolvency Law to Void Preference Payments

The Privy Council is also the highest court of appeal in the Cayman Islands

Fraudster behind $50m Bitcoin scam that duped UAE investors admits crimes

Haddow's other business scams include a milk line, glow in the dark plastics, a hotel ownership plan and even an attempt to buy the world's oldest newspaper, UK-based The Observer.

ICBC US Brokerage Unit Penalised for Unlawful ADR Practices

Without admitting or denying the SEC’s findings, ICBCFS agreed to be censured, return nearly $24 million in ill-gotten gains, and pay $4.4 million in prejudgment interest and a $14.3 million penalty.

Legal, Regulation & Compliance