Managers of Wealth Americas

For SEC, making Wall Street admit guilt easier said than done

Big multinational firms linked to the subprime mortgage debacle, and other notorious offenders escaped having to admit guilt despite her warnings.

BofA Increases Referral Quota for Merrill Lynch Wealth Advisers

Global banks have been seeking to generate more revenue from affluent clients as low interest rates and increased regulation crimp earnings

SEC charges asset management fund with fraud

Chang and Onix Capital also are alleged to have falsely depicted Chang as an award-winning multi-millionaire “angel” investor with an MBA from Stanford University.

FINRA Fines Credit Suisse Securities (USA) LLC $16.5 Million for Significant Deficiencies in its Anti-Money Laundering Program

A significant portion of the data feeds into the system were missing information or had other issues that compromised the system’s effectiveness.

NY Court of Appeals Finds Personal Jurisdiction Based on Use of NY Correspondent Bank Accounts

Courts and practitioners may have to reconsider their assumptions about personal jurisdiction in future cases.

U.S. Wants Swiss Banks' Help to Collect Taxes

Swiss companies have to provide details about their U.S. clients according to a complex procedure.

Voluntary Disclosure Window Closing On Bitcoin Users

This is the first nationwide IRS enforcement initiative into the field of convertible virtual currency.

Morgan Stanley Toughens Broker Pay Grid -- WSJ

Bigger producers will be affected, too.

BTIG Announces Blackstone Tactical Opportunities Strategic Investment

BTIG has been one of the fastest-growing institutional brokerage firms in the US

Switzerland eyes AEOI with 21 countries

The introduction of the AEOI confirms Switzerland’s international commitment to implementing the AEOI standard

US-China swaps trades in doubt on margin rule requirements

China is the most important of an estimated 78 jurisdictions with rules that mean the return of collateral isn’t guaranteed.

Giving pro bono financial advice can provide hope in these divided times

Financial advisers should give back, serving those less fortunate with their counsel and expertise

Natixis Global Asset Management Announces Investor Approval of Mutual Fund Mergers

As soon as practicable following the mergers, CDIR will be wound up and securities of CDITM will be cancelled.

Deutsche Bank to pay $60 million to settle US gold price-fixing case

The German bank in October agreed to pay $38 million to settle similar litigation over alleged silver price manipulation

Banking & Securities Viewpoints - Deloitte

A biweekly digest for executives

PIMCO Settles Charges of Misleading Investors About ETF Performance

The SEC’s investigation was conducted by Adam Schneir and Brian Fitzpatrick of the Enforcement Division’s Asset Management Unit as well as Kate Zoladz of the Miami office

SEC Charges Asset Management Fund and Manager

The SEC’s complaint charges Chang and Onix Capital with fraud and seeks return of allegedly ill-gotten gains, prejudgment interest, and financial penalties, among other relief for investors.

Steve Cohen’s former hedge fund settles insider trading suit for $135M

SAC got the inside info from doctors involved in the clinical trials of Elan’s Alzheimer’s drug, it was alleged.

Burns & Levinson Wins $6 Million Appeal For Client in Post-Divorce Dispute

Burns & Levinson's lawyers moved to dismiss the case for a number of reasons including lack of subject matter jurisdiction.

Steve Cohen is paying $135 million to settle an insider trading case from his old hedge fund

The proposed settlement was disclosed in court papers filed on Wednesday in Manhattan federal court and would resolve a class action launched following the arrest of a former SAC Capital portfolio manager, Mathew Martoma, for insider trading.

Legal, Regulation & Compliance