Managers of Wealth Americas

Morgan Stanley Loses Little Legal Battle with Potentially Big Consequences

The ruling, however, could hardly have been welcome news at Morgan Stanley and may even have broader implications for the brokerage industry

Tannenbaum Helpern is Named "Best Boutique Law Firm"

Tannenbaum Helpern's Investment Management practice is recognized by HFMWeek at its annual US Hedge Fund Services Awards 2018 ceremony on September 13th.

Ex-Deutsche Bank Trader Pleads Not Guilty to Spoofing

Chanu is seeking to be released on bond to Dubai in the United Arab Emirates, where he currently works at a trading company, his lawyer said.

Tax Whistleblower Receives $13.6 Million Dollar Award

We thank the whistleblower for the courage to come forward

Love at first fraud: Advisors stole from clients, then married, SEC says

Omnibus accounts let advisors trade securities on behalf of multiple clients at the same time in a “block trade” without identifying to the broker which trade was made for which client.

Bitcoin Core Developer Joins Forces With Former Morgan Stanley Exec To Warn SEC

“Bitcoin is fundamentally a technological system with many nooks and crannies,” Bishop told Forbes.

Fox Rothschild Expanding into Southeast in its Largest Merger Yet

Smith Moore Leatherwood, once a small regional firm, will now step into the AmLaw 100.

$18m Isle of Man tax fraud exposed in the US

If proven, the allegations could lead to 20 years in prison

A Continuing Trend: Lawyers Ditching Big Law for Small Firm Freedom

Litigators from Cooley and Jackson Lewis have left each firm to branch out on their own.

LPL Accused of Race and Sex-Based Discrimination in Lawsuit

Last month LPL, which did not provide a response to an inquiry for this story, filed an answer to Beaufort’s complaint.

Colorado Division Of Banking Releases Guidelines For Crypto Regulation

The direction governs the specific circumstances under which Colorado law will require a crypto exchange to have a money transmission license.

SEC Shuts Down $345 Million Fraud and Obtains Asset Freeze

The SEC appreciates the assistance of the U.S. Attorney's Office for the District of Maryland and the Federal Bureau of Investigation.

Morgan Stanley sues $660M team for soliciting clients via phone, Facebook

The firm’s legal maneuvering mirrors similar court battles it initiated earlier this year against other ex-Morgan Stanley advisors who moved to rival firms.

SEC Indicts Husband and Wife of World Tree Financial for “Cherry-Picking” Scheme

Favored clients allegedly got the winning trades and others got the losers so the firm could profit more.

Merrill Lynch's Commission Ban Reversal: Here's How Advisors See it Playing Out

In its statement announcing the reversal, Merrill Lynch emphasized the flexibility the decision would provide clients.

Ex-UBS FA Sues to Vacate Finra Award

But the broker is arguing that two of the arbitrators violated the industry’s self-regulator’s procedures, AdvisorHub writes, citing a petition to vacate the award filed in the southern district of New York by Miller’s lawyer.

Joint statement: Inaugural meeting of US-UK Financial Regulatory Working Group

This cooperation is especially important given transition in the UK’s regulatory relationships as it withdraws from the European Union.

CADE launches investigation into six Brazilian banks regarding cryptocurrency trading

Brazil’s anti-trust agency has launched an investigation into six of Brazil’s financial institutions as a result of potential illicit trading practices.

How Misplaced Trust in Advisors Contributed to Massive Fraud Against Pro Athletes

Among the factors that increase the chance of an athlete being defrauded is misplaced trust in financial advisors, business managers and family, according to the report.

Investors hope central banks will extend a rescue line to ailing emerging markets

The pressure to hike will be particularly strong for Brazil and SA, both of which have seen their currencies plunge this year

Legal, Regulation & Compliance