Managers of Wealth Americas

UniCredit to Pay $1.3 Billion, Plead Guilty to US Sanctions Violations

UniCredit Group Banks Agree to Pay Over $1.3 Billion for Violating Sanctions

Hedge Fund Versus Manulife Saga Continues As Manager Files Appeal

A hedge fund investor in insurance policies from Manulife and other Canadian insurers is fighting a court decision that prevented it from taking full advantage of ‘90s-era contracts.

Rating Agency Says New Mexico Pension Woes Persist

An international credit rating agency says New Mexico's unfunded pension obligations to public employees continue to cast a shadow over government finances.

4th richest Czech billionaire Vitek sued for $3bn by NY hedge fund claiming fraud

The accusation is that they did so by concealing CPI’s real ownership stake in Orco to avoid having to make a mandatory offer.

Federal Reserve Consults on New Rules for Foreign Banks in the US

The proposals could relax capital and stress testing requirements for US branches of foreign banks, but impose stricter liquidity rules on those that engage in riskier activities.

U.S. lawmakers grill bank CEOs on social issues

Democratic lawmakers focused many of their questions on who the banks were doing business with, probing for answers about financing of gun manufacturers and fossil fuels.

US Tax Court rules in favour of IRS in 831(b) Syzygy case

Judge Robert Ruwe's opinion, filed on April 10, generally affirmed the IRS’s determinations that Syzygy did not engage in insurance transactions and did not qualify as an insurance company

Feds seize Michael Avenatti's $4.5million private jet amid tax scandal

Avenatti was accused last month by the IRS of failing to pay taxes on millions of dollars in personal income and through his firm

Ogier recognised for work in Brazil

Latin Lawyer's reference to the firm records that "the firm is busiest in the funds space", has been "building its experience of fintech" and is "active elsewhere in the region, in Chile, Argentina, Peru and Central America f

Fed proposes new regulatory regime for foreign banks

The proposed changes, which are subject to industry feedback, would relax the capital and stress testing requirements for the subsidiaries of foreign banks.

Assante Private Client reduces management fees as part of new flexible pricing model

Additional changes allow for more flexible and tax-efficient use of distributions in non-registered accounts.

BNY Mellon and BlackRock announce partnership

BlackRock’s chief operating officer and head of solutions Rob Goldstein said he was pleased to help clients more closely couple data and further optimise their operating models.

Lyft reportedly threatens to sue Morgan Stanley, accuses the bank of supporting short-selling

A lock-up agreement is a legally binding contract issued by the underwriters of an IPO that prohibits people close to the company, including executive and employees, from selling shares for a period of time, typically ahead of a stock's debut.

Baird Says Majority of Hilliard Lyons’ Advisors Agreed to Join Baird Following Merger

The deal brings over $50 billion in assets to Baird, whose roughly 900 advisors managed more than $208 billion as of the end of 2018, according to the paper.

BNY Mellon and BlackRock sign alliance to create front-to-back office data service

BNY Mellon plans to deliver real-time trade data, asset prices and cash positions to the 40-50 clients it shares with BlackRock’s Aladdin.

UBS Works on Employee Overpayment Errors

UBS is likely to address its approach to the resolution, including whether it will attempt to recoup money from brokers or other employees, in upcoming meetings, the internal source said.

Socialism inevitably produces stagnation, corruption and often worse: Chase CEO Jamie Dimon

JP Morgan Chase CEO Jamie Dimon published his annual letter to shareholders on Thursday, and with it warned of a looming economic slowdown

Maine Resident Charged With Defrauding Over 100-Investors

The SEC’s complaint alleges that Wall and Lighthouse violated the antifraud provisions of Section 17(a) of the Securities Act of 1933 (“Securities Act”) and Section 10(b) the Securities Exchange Act of 1934 and Rule 10b-5 thereunder

Outlook for 2019: cross-border M&A and post-merger integration

Unfeasible expectations can dampen or even derail the transaction.

StanChart extends U.S. deferred prosecution agreement by 10 days

“This brief extension will allow additional time to resolve the outstanding investigation into our historical U.S. sanctions compliance,” a StanChart spokeswoman said.

Legal, Regulation & Compliance