Managers of Wealth Americas

British Virgin Islands Firm O'Neal Webster Opens New York Office

The opening may portend broader and more direct engagement of offshore firms with onshore clients.

Funding a Revocable Trust: An Estate Planning Opportunity

The donor, or grantor, is the individual who creates the trust and transfers her personal assets into it. The trustee manages the trust and its assets as directed by the trust document.

The SEC stays active in 2018 with continued action from its enforcement division

In our view, the Division’s first principle—focus on main street, retail investors—is a bit of a shift in priorities by the current administration, away from attention on the Wall Street institutions and the practices that many blamed fo

Corporate America flees zero-tax Caribbean havens after crackdown

American corporations have used tax havens for years to avoid higher levies where they actually earn the income.

Hedge fund and principals to pay over USD1m to settle CFTC charges of fraud and registration violations

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

Offshore Hedge Funds to Be Targeted by New IRS Rules Coming Soon

The soon-to-be-released rules will also likely encompass “quite a few other issues”

Japan’s Banking Giant MUFG Signs MoU to Develop Ripple-Based Remittances to Brazil

“The new payment system [...] will assist the banks as they work toward commercializing a high-speed, transparent and traceable cross-border payments solution between Japan and Brazil,”

Danske Scandal Could Involve US Banks

Danske Bank, Denmark’s largest bank, is being investigated over what has been termed “massive money laundering flows” from Russia and several former Soviet states.

Goldman Sachs to be Banned in Malaysia? Mahathir Drops Strong Hint Top U.S. Bank May be Blacklisted After 1MBD Fiasco

Mr Mahathir has also refused to rule out banning Goldman from Malaysia.

Rabobank explores sale of U.S. retail, wealth operations: sources

The sources said that the business up for sale is part of Rabobank N.A., the California-based unit of the bank

Expungement Warning: Lawyers are Selling Advisors False Promises

Based on information shared with Concilla by the brokers who have been solicited, he says those lawyers charge as much as $3,000 a month until the case closes, which those lawyers estimate at around 14 months.

22-Year Morgan Stanley Veteran Barred After Alleged $273 Improper Expense

According to Baldeck, “Morgan Stanley determined that I was reimbursed $272.94 from those funds to pay for meals with my daughters.”

Inter-American Development Bank Group and MAS collaborate to promote inclusive financial services

We are happy to welcome participants from 15 countries in LAC to the Singapore FinTech Festival this year.

How Goldman’s high-flying Italian partner was embroiled in scandal

Andrea Vella was placed on leave by the bank after being caught up in the 1MDB affair

Wells Fargo To Pay $43M To Settle RMBS Trustee Litigation

The settlement also resolves a related action seeking declaratory relief against Wells Fargo, as well as claims by Wells Fargo against certain investment advisors.

UBS Strikes Back Over Justice Claims in Mortgage-Backed Securities Lawsuit

The DOJ’s complaint alleges UBS securitized over $41 billion in mortgage loans through 40 deals backed by subprime and other mortgage loans and that investors suffered “many billions of dollars” in losses as a result, the Journal writes.

BofA faces lawsuit over use of the name Erica

Underwood’s E.R.I.C.A. is the search engine for My24erica.com, an entertainment news aggregation site.

Ex-Morgan Stanley Broker Goes After Wirehouse Alleging Defamation

Bindelglass’s suit includes affidavits from the clients Morgan Stanley mentions in his employment separation disclosure, who contradict the wirehouse’s version of events, InvestmentNews writes.

UBS faces new legal battle in US over mortgage securities -

UBS will contest the matter and is confident in its legal position, based on the facts and the law

HSBC bank confirms US data breach

HSBC has said some of its US customers' bank accounts were hacked in October.

Legal, Regulation & Compliance