Managers of Wealth Americas

Manx link to Panama Papers prosecution

Now, their international tax scheme is over, and these defendants face years in prison for their crimes.’

Americans Spent $100 Million on Tropical Real Estate. They Were Scammed, FTC Says.

Developers sold lots in a jungle area that they said would become a luxury resort but little was built

US anti-money-laundering bill could reappear early next year

Critics say the proposed law, which stalled following the US mid-term elections, would place an unnecessary burden on dealers

New IRS offshore amnesty regime imposes bigger penalties for secret accounts

The OVDP was initiated in 2009 and was designed to bring taxpayers with undisclosed foreign income, accounts and assets into US tax compliance.

Defunct Greenwich investment firm reaches seven-figure SEC settlement

The SEC alleges that “business development clients” of Fifth Street overvalued portfolio companies by several million dollars, making the clients’ own reported numbers inaccurate.

US, UK to sign re/insurance agreement as Brexit looms

The agreement between the EU and the US eliminated collateral and local presence requirements for qualified reinsurers and facilitated the exchange of information between EU and US supervisors. It also included prudential benefits.

‘Excessive disclosure’: how an incoming SEC rule could overwhelm US offshore

As a legal specialist with over 25 years’ experience in cross-border regulation, one of the key things that struck me about the regulation was how difficult it might be to apply it to cross-border investments.

How Madoff's Multi-Billion Fraud Changed the Hedge Fund Industry

The impact of that has been staggering: Investors have pulled their money from funds of funds for 10 straight years.

Law firms position themselves at the heart of business deals

Lawyers step out of traditional roles to attract clients

Artex and Arthur J Gallagher accused of selling and managing illegal tax-shelter captives

The plaintiffs were represented by David R. Deary, Ralph Canada, and Jim Flegle of Loewinsohn Flegle Deary Simon .

Investors managing $32 trillion in assets call for action on climate change

"The global shift to clean energy is underway, but much more needs to be done by governments to accelerate the low carbon transition and to improve the resilience of our economy, society and the financial system to climate risks," the statement

Edward Jones Settles Lawsuit Against Fired Advisor

The compliance staff members’ actions were “brutal” and “inappropriate

Panama Papers: Four charged in US with fraud and tax evasion

Prosecutors allege Mr Owens and Mr Brauer created and ran sham foundations and shell companies to conceal assets.

Boardroom Diversity Push Gains Steam

SB826 is the newest development in the rising trend of promoting increased gender equality and diversity representation in corporate boardrooms.

Judge Rules For KPMG in Wide Sex Discrimination Suit

KPMG LLP defeated an effort by female employees suing over alleged discrimination to pursue their claims on behalf of a group of about 10,000 others going as far back as 2009.

Ex-BNY Mellon VP Claims He Was Fired Over Panama Bank Probe (2)

He said he was told to look into Global Bank after BNY Mellon learned of reports that a group of Panamanian banks were involved in a money-laundering scheme.

Madoff Victims Will Get Another $695 Million From U.S. Fund (1)

Madoff’s investors lost a total of $19 billion in principal and more than $40 billion in fake profit when his securities firm collapsed in December 2008.

Wells Fargo Sued By Septuagenarian in $660K Elder Abuse Claim

Those withdrawals and wire transfers “each constituted a profound change in her banking pattern,” her lawsuit states.

ICO’s first enforcement action under the GDPR

The significance of this enforcement is threefold.

Ex-UBS Broker Suspended Over Alleged Churning in Client Accounts

In one client’s account, whose net worth was over $5 million and whose investment objective was income and capital appreciation, Fagenson’s trading allegedly resulted in an annualized turnover rate of 16.07 and an annualized cost-to-equity rat

Legal, Regulation & Compliance