Managers of Wealth Americas

When Robos Go Bad

Tom Baker, professor at the University of Pennsylvania Law School, says robo advisors are not immune from conflicts of interest.

Ameriprise Drops Hundreds of Funds Offered to Brokerage Clients

Advisors will no longer be able to offer clients hundreds of investments, but few assets managed by the brokerage will be affected.

Fed gives extension on complying with part of Volcker rule to three banks

The rule, part of the 2010 Dodd-Frank Wall Street reform law, limits the types of trading banks can conduct with their own money, as a way to curb speculation in financial institutions.

Mexico: Regulations for Capital Repatriation 2017

Please note that the repatriation is about previously undeclared assets, since taxpayers are only forced to pay the mentioned flat rate of amounts that have not paid the corresponding Mexican tax income.

FINRA Hearing Panel Bars Registered Representative For Failing To Disclose Private Securities Transactions Totaling $100 Million In EB-5 Investment

As noted in the decision, by the end of 2013, the offering was fully subscribed with all partnership units sold to 200 different investors contributing $500,000 each, totaling $100 million.

Global transparency

In recent years, significant changes in global finance regulations mean that every investor should re-examine their personal need for such offshore structures.

Lawyers not embracing opportunities from technology, Deloitte report finds

Deloitte’s focus on the general counsel community is especially interesting.

FATCA Update: FFI Agreement Renewal Function Now Available

Along with system fixes, the update within the registration application includes the removal of the classification of “limited” for financial institutions and branches.

Ex-State Street exec to plead guilty in U.S. to fraud scheme

No plea hearing has been scheduled yet for Pennings, who lives in the United Kingdom. Lawyers for Pennings and Boomgaardt did not respond to requests for comment.

Prudential Financial Undergoing N.J. Regulator Review

Shares of Prudential Financial were declining by 2.12% to $103.33 on Tuesday morning.

In Securities Fraud Case, Prosecutors Allege Novel Money Laundering Scheme to Circumvent FATCA Reporting Obligations

The scheme was designed to launder a portion of the fraudulent proceeds from the stock manipulation scheme from the United States through offshore accounts

Global Foreign Exchange Code Of Conduct Published

We share the view that the global code plays an important role in assisting that process and in helping improve market functioning.

UBS Revamps FA Pay Ahead of DOL Rule

The move comes ahead of the partial implementation of the DOL’s rule

JPMorgan faces trial over sale of fallen unicorn to BlackBerry

Bank protests against settlement that venture capital firms reached with shareholders

Demand For Impact Investing Could Be Boon For Attorneys

The practice of impact investing, which involves private equity and other investors making investments aimed at helping to advance society at large.

FINRA Clarifies What Advisors Can (and Can’t) Do on Social Media

The notice requires broker-dealers to keep records of any text message correspondence, take responsibility for any links or shares to third-party content providers, just as if the firm had created the content itself (but only if the firm had some form of

Legal, Regulation & Compliance