Managers of Wealth Americas

UBS Cites Multiple Reasons for Ousting a Top Broker

The terse explanation of Findley’s dismissal was sent to state regulators in a summary of the firm’s U-5 termination notice that was reviewed by AdvisorHub.

Big loss for Morgan Stanley as $6B team goes indie

Morgan’s retention rates have also benefited from a reduced recruiting environment: the wirehouse and rivals Merrill Lynch and UBS have cut back on hiring initiatives in recent years.

Macquarie to cut some of its Canadian operations

However, Macquarie’s asset management unit and others including commodities trading, hedging, corporate finance, and advisory units are not believed to be affected.

Current vulnerabilities in the global financial system

The report, which includes a discussion of approaches and mechanisms that may enhance the effectiveness and efficiency of international cooperation, will be published and submitted to the June meeting of G20 Finance Ministers and Central Bank Governors.

Trump Family Sues Deutsche Bank To Keep Financial Records Secret

The bank hasn’t yet handed over any client-related records to the House committees and will wait for the outcome of the legal proceedings, said the person, asking not to be identified in disclosing internal information.

POBA to up co-investment with CalSTRS, Texas pension fund

POBA had committed $200 million to each JV.

Swedbank admits money laundering flaws, faces multiple U.S. probes

Swedbank has found itself caught up in a regional money laundering scandal originating with Danske Bank, which said last year that 200 billion euros ($223 billion) of suspicious funds moved through its Estonia branch between 2007 and 2015.

CIBC Asset Management announces changes to fund line-up

In contemplation of the termination, the Manager may make distributions prior to the Fund's Termination Date if this is deemed in the best interests of the Fund and its unitholders.

Ogier acts for BTG Pactual Reinsurance in insurance license application

BTG Pactual Reinsurance reinsures surety bonds and related insurance products written by its affiliates in Brazil.

Vermont Governor signs into law captive bill for 2019

Vermont Governor Phil Scott has signed into law a bill to tidy up and modernise parts of its captive insurance law as it enters its 2019 legislative session.

IRS launches captive campaign to ensure compliance with arm's length prices

The Internal Revenue Service has launched a compliance campaign to ensure US multinational companies are paying their captive service providers no more than arm's length prices.

China Delays Data-Onshoring Rules Until After US Trade Talks

The new regulations would require companies to localise data analytics processes in China.

Trial begins for Platinum Partners hedge fund honchos charged with bilking investors

Hein told jurors evidence would show how the trio lied about the fund’s health — knowing they were “strapped for cash” —so investors would keep throwing money in the pot.

New guidance clarifies aspects of the Opportunity Zone program

The proposed regulations clarify some of the substantive issues involving qualified opportunity funds

Brazil’s Petrobras revisits whistleblowers in wake of trading scandal

Company officials questioned the employees on how their complaints had been handled, said the people, who requested anonymity to discuss internal matters.

Michael Avenatti is accused of embezzling $2.5 million from an NBA player, report says

Avenatti was entitled to $1 million in legal fees, but instead took $2.5 million and put it toward a private jet, prosecutors alleged in an April 10 indictment by a California-based grand jury.

Investment adviser accused of soliciting millions in medical marijuana scheme

Altogether, Galvin’s office said, investors have “lost control of more than $8 million in assets, while seeing no returns on their investments.”

JPMorgan Analyst Says He Was a Victim of Mike Lynch Vendetta

Khan, who worked for JPMorgan’s Cazenove unit until 2011, was testifying on behalf of Hewlett Packard Enterprise Co. in its $5.1 billion suit against the British software founder.

Credit Suisse Notches Win Against Wells FA Who Alleged Fraud

The case appears to be the first in which Credit Suisse has prevailed against claims filed by dozens of its former U.S. brokers seeking to collect forfeited compensation or to walk away from promissory notes.

New Mountain Capital targets net lease sector

The investors include pension funds, insurance companies, asset managers, family offices, high net worth individuals and endowments. Limited Partners include new investors as well as existing investors.

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