Managers of Wealth Americas

Wells Fargo advisors with $1.44B jump to Stifel

The bank has been rocked by a phony accounts scandal and has paid more than $1 billion in fines and penalties to regulators.

SocGen to pay $1.3 billion to settle U.S. sanctions case

“The absence of an effective, global sanctions-compliance infrastructure and lack of management oversight allowed Société Générale employees to ignore the scope and applicability of laws governing economic sanctions, as w

Barclays not liable to buyers of U.S. IPO before 2008 crisis: appeals court

Barclays was accused of concealing 21.6 billion pounds (then about US$42 billion) of mortgage-backed securities and other risky assets insured by monoline insurers, and a March 2008 “directive” by the U.K. Financial Services Authority requirin

The Bank of Canada, Bank of England and Monetary Authority of Singapore share assessment on emerging opportunities for digital transformation in cross-border payments

The report examines existing challenges and considers alternative models that could in time result in improvements in speed, cost and transparency for users.

Six-Year Prison Sentence for Former Financial Advisor

Gilbert’s bank began an investigation after getting notified by the Salvation Army that it was supposed to get funds from an account whose owner had died

Ex-Wells Fargo Rep Barred for Alleged Inaccuracies in His Notes

The former broker initially cooperated with Finra’s investigation into his discharge, but stopped doing so in September 2018, by first sending an incomplete response and then informing Finra staff through his lawyer that he would not provide the res

US national security reviews to hit Chinese investment

Government will review small minority stakes in sensitive technologies

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.

Legal, Regulation & Compliance