Managers of Wealth Americas

The Fed can’t decide how much money US households have left

The problem is that no one, not even the Federal Reserve, knows how much longer the American consumer can keep on spending.

US banks scramble on research fees as reprieve on European rules runs out

Many in the banking industry had hoped a regulatory reprieve in place since October 2017 would be extended beyond July 3, analysts said, explaining the reason behind the eleventh-hour scramble.

Banks raised questions in 2020 about FTX-affiliated hedge fund's wire activity, FTX says

Bankman-Fried has pleaded not guilty to 13 counts of fraud and conspiracy.

The Toronto-Dominion Bank Receives Regulatory Approval for Normal Course Issuer Bid

As previously announced, TD intends to launch a new normal course issuer bid to repurchase for cancellation up to 30 million of its common shares.

Dimon may have ordered JPMorgan's review of Epstein ties, Virgin Islands says

Internal emails show that following Epstein's July 2019 arrest on sex trafficking charges, JPMorgan conducted a review known as "Project Jeep"

BofA: Crypto Sentiment 'Remains Poor' Following SEC Actions

The bank also projects that blockchain infrastructure and tokenization will “transform financial and non-financing infrastructure and markets over the next five to 10 years.”

PIMCO charged by US SEC over disclosure and procedures failures

$9m settlement

JPMorgan has reached an agreement to settle Jeffrey Epstein victim’s lawsuit—but its problems with the sex trafficker aren’t over

The deal with the victim identified only as Jane Doe doesn’t end JPMorgan’s legal headache over its ties to Epstein.

U.S. banks struggle to meet Mifid regulations

This critical situation unfolds as U.S. banks and brokers servicing European clients face the daunting prospect of losing a U.S. regulatory “free pass”.

FirstFT: Expect more US interest rate rises, economists warn

Also in today’s newsletter, Silvio Berlusconi dies, and UBS’s ‘red lines’ for Credit Suisse staff

Canada Life suspends relationship with Odey wealth management unit- statement

A Canada Life said the company would not be accepting any new fund flows.

Canaccord board recommends rejecting MBO offer

Due to a regulatory snag

SEC files 13 charges against Binance and Changpeng Zhao

Binance was to create 40 Bermuda jobs, at least 30 of them Bermudian and spend up to $10 million on training for Bermudians in blockchain technology development.

Vanguard fined for providing misleading account statements to its customers

The regulatory organization said Vanguard "accepts and consents" without admitting or denying the findings

DLA Piper lawyers and practices ranked in Chambers USA 2023

The annual rankings are based on extensive research by Chambers & Partners Publishing.

JPMorgan to Close 21 First Republic Branches

“Clients should expect to continue to receive the same level of service with seamless access to their money.”

A bumpy path to US dollar weakening

The dollar has held its ground in 2023 to date, even amid ongoing turmoil in America’s regional banking sector and a political crisis over the US debt ceiling.

Captrust adds Fort worth's Omega wealth Partners

The three will join CAPTRUST along with six additional colleagues.

U.S. regulators have tools to handle banking turmoil: ex-comptroller

Fed response to SVB collapse bogged down by legal restrictions, Eugene Ludwig says

US regional banks swap $220bn in deposits to soothe insurance nerves

Use of ‘reciprocal’ accounts jumped as turmoil enveloped financial sector

Legal, Regulation & Compliance