Managers of Wealth Americas

US wealth manager Focus sees a bright future in Escala

The transaction is expected to close in the second quarter of 2019, subject to customary closing conditions.

Norfolk Pension Fund wins rare US securities fraud class action jury trial

The jury’s verdict was the culmination of almost four years of litigation and a three-week trial throughout which Norfolk Pension Fund served as the Lead Plaintiff on behalf of all defrauded investors.

MFDA fines De Thomas Wealth Management

The Hearing Panel approved the settlement agreement dated February 6, 2019

Panama Papers ‘tightened the noose’ on offshore assets of Maduro’s inner circle

In the wake of the scandal, it became harder to launder money through investment in Panamanian real estate for Venezuelans who grew rich on the back of their political connections

JP Morgan Launches Pale Imitation of the “Fraud” that is Bitcoin

The announcement of the JPM Coin prototype today is the first of its kind on the planet.

UK and Canada forge closer fintech ties

Renewing this MoU will help us to encourage greater innovation and ensure ongoing cooperation between the UK and Canada.

US SEC Charges Deloitte Japan for Auditor Independence Violations

Deloitte Japan agreed to pay $2 million in monetary sanctions and be censured.

Ex-UBS Broker Gets 9 Years in Prison Over $4 Million Fraud

UBS was not aware of the scheme because MacColl allegedly handled it over his personal cellphone, investigators said, according to the website.

SEC, CFTC commissioners push for streamlined regulation

Federal regulators also "need to do a better job" of providing guidance to the regulated community

Hedge Fund Co-Founder Gets 30 Months for Role in Alleged Bribery Scheme

Huberfeld pleaded guilty last year to conspiracy to commit wire fraud

Interactive Brokers Pays $100K to Settle Supervision Case

Interactive Brokers carried several accounts managed by Peter Zuck, who has a history of financial crime convictions.

UBS to Pay $319,000 Over Former Broker’s Alleged Unsuitable Recommendations

BS cooperated with the regulator and neither admitted nor denied the allegations, InvestmentNews writes

All You Need to Know About the Global Legal Services

The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Finra Sues Ex-Broker Over Failing to Disclose Sexual Misconduct Felony

He learned about the charge May 3 and was arraigned May 6, and was issued a written indictment for the felony charge in October 2016, Finra says.

Husband and wife to pay over USD1m to settle futures trading scheme fraud charges

The CFTC cautions victims that restitution orders may not result in the recovery of money lost because the wrongdoers may not have sufficient funds or assets.

Deferred Prosecution Agreement in the U.S. resolved

Since Julius Baer fulfilled its obligations under the DPA, the U.S. Attorney’s Office for the Southern District of New York filed a motion to dismiss the charges.

Signs Point to "Tsunami" of Lawsuits Imminent for Financial Advisors

“We’ve gotten probably a 20% higher volume of calls in the last four months versus 12 months ago. The reason is because of the plummeting markets,” Stoltmann says.

Merrill Lynch Wins Arbitration Over Manager Claiming $30 Million Loss

McClanahan says the wirehouse “frivolously sued him in federal court to circumvent the customer arbitration agreement and to increase his costs,” according to the award document.

Morgan Stanley Ordered to Hand Over Evidence in Lawsuit Claiming Theft of Confidential Information

In its lawsuit, E*Trade argues that most of its more than 6.6 million account holders never speak to an individual financial advisor.

Three more bank mutual fund subsidiaries face potential class action cases

The allegations have yet to be tested in court.

Legal, Regulation & Compliance