Managers of Wealth Americas

Ex-Merrill Lynch FA Suspended Over Kiting Scheme

Merrill first accepted the checks and credited his account but eventually rejected them, Finra says.

Bad Broker With 55 Disclosures Skips Out On Paying $4.3M in Damages

In May 2015, Diaz was barred by Finra from the industry. By April 2018, Diaz had racked up 55 disclosures.

Guggenheim agreed $30m settlement with fund manager

Arrangement reached last year as divisions at Wall St firm raised fears of defections

A Dutch Treat? Some Lawyers See Netherlands as Next Class Action 'It' Spot

There are a number of reasons for lawyers representing plaintiffs and defendants to believe that Dutch courts could become an ideal overseas venue to resolve class action disputes. But uncertainties still abound.

FINRA to Reveal Reps’ Undisclosed Bankruptcies, Judgments and Liens

The organization will conduct a search of public records within 15 days of a new U4 filing, helping member firms fulfill a regulatory requirement.

Seizing the GDPR Advantage: From mandate to high-value opportunity

Look beyond the compliance side of the GDPR

Morgan Stanley Breakaways Sue Wirehouse for Client Access

In addition, the suit says Morgan Stanley’s definitions of client privacy and trade secrets — which the wirehouse has used in the past to argue its case against departing brokers —is overly broad.

SEC Charges Brokerage Firms and AML Officer With Anti-Money Laundering Violations

According to the SEC, from October 2013 to June 2014, Chardan, an introducing broker, liquidated more than 12.5 billion penny stock shares for seven of its customers and ICBCFS cleared the transactions.

Award Winners — Lawyers & Law Firms

Firm of the Year 2018: Hogan Lovells

SEC Charges Owner of Alternative Investment Firm in Belize Airport Financing Scam

The SEC’s complaint alleges that between 2014 and 2017, Brent Borland sold more than $21 million of promissory notes to dozens of investors

US to resume prosecutions of deliberate offshore tax avoiders

US expats who have willfully failed to declare unpaid tax to the IRS have until September to come clean or once again risk prosecution as a key amnesty programme ends.

Essential Services For Private Client Lawyers Working With The Super-Rich And Family Offices

While most legal services are becoming increasingly commoditized, there are many times significant differences in the quality of the work done by different private client lawyers.

Wealthy art consultant pleads guilty to lying on tax return

Lying on her tax return about Swiss bank accounts

Ex-NBA Star Sues Financial Adviser for Allegedly Stealing $17.4 Million of His Money

The suit claims Marquez began overseeing his account and, on several occasions, began investing Brown’s money into various projects and trading stocks without his permission.

Ex-JPMorgan Trader Latest Charged for Currency-Market Scam

Akshay Aiyer accused of conspiracy by U.S. Justice Department

IMDDA releases survey on sexual harassment in investment management

In response to the rise of the #MeToo movement, the IMDDA commissioned the anonymous survey with institutional investors in the winter of 2018.

Will Lawyers Become Extinct in the Age of Automation?

The most enduring relationships in the legal profession are the ones where the client feels and believes the lawyer has their back.

Hedge Fund Manager Sentenced to Six Years for Fraud

Yasuna Murakami ordered to pay $10.5 million in restitution for running Ponzi scheme.

JPMorgan, Morgan Stanley to Revisit DOL Rule Changes

A JPMorgan spokeswoman confirmed to the website that the emails had been sent but declined to comment further.

Union Investment wins against US scandal bank

In US federal suit in California, Union Investment blamed Wells Fargo for having repeatedly made false statements, artificially inflating its share price from February 2014 to September 2016.

Legal, Regulation & Compliance