Managers of Wealth Americas

McDermott is not what it used to be

Internal squabbling over the duo's management was “absolutely not” a factor in their decision to step down, he adds.

CIMA and AICPA to form new association

Chartered Institute of Management Accountants

Debate blooms at Fed as policymakers wrestle with 'new normal'

The fact that the economy has been slow to respond to rock-bottom borrowing costs is drawing attention to a possible decline in the long-run equilibrium, or neutral, rate that's consistent with an economy at full employment and stable prices.

A big-name hedge fund manager at Visium has turned himself in to the feds

I am deeply saddened by today's events, Gottlieb said in a statement.

Software Executive and Three Friends Charged With Insider Trading

The SEC alleges that Christopher Salis, then a global vice president at SAP America, received thousands of dollars in kickbacks for tipping Douglas Miller in advance of SAP’s impending acquisition of Concur Technologies.

Private Fund Administrator Charged With Gatekeeper Failures

SEC investigations found that Apex Fund Services Inc. missed or ignored clear indications of fraud while contracted to keep records and prepare financial statements and investor account statements for funds managed by ClearPath Wealth Management and Equit

Hedge Fund Managers and Former Government Official Charged in $32 Million Insider Trading Scheme

Johnston allegedly funneled to Valvani the details of his conversations with FDA personnel, including a close friend he mentored during his time at the agency.

The SEC tried to fix a finance problem and created a computer problem instead

There are now more than 50 public and private exchanges, tethered together by a web of regulations that dictate how they must coordinate.

FT: Bank of America Plans to Cut 8,000 Jobs as Fintech Replaces Humans

Most of the cuts will be among back-office employees, said unnamed people with knowledge of the situation.

Invesco Announces Additional Risk Information Related to the Invesco Closed-End Funds

The Trust is required under various securities laws to have its financial statements audited by an independent accounting firm.

Heads up, RIAs: Fiduciary rule will change your practice, too

Morningstar research estimates that $3 trillion in full-service wealth management assets will be affected.

New boutique law firm launched

The boutique format re-invents the way HES delivers premium legal services to clients.

Wall Street scion will likely plead guilty in a $150 million fraud case

Prosecutors previously said his alleged fraud scheme was up to $95 million.

Jefferies beefs up investment banking footprint in Canada

The firm was recently granted a licence to underwrite by the Investment Industry Regulatory Organization of Canada.

HSBC Reimburses $7 Million It Charged 4,000 Clients In Excess Fees

A settlement agreement approved by the British Columbia Securities Commission on Monday also includes a voluntary payment by the Vancouver-based firm of $300,000 toward investor education, and $20,000 to cover costs.

SEC Strikes a Harsh Tone on Receipt of Transaction-based Compensation by Private Equity Fund Managers

The fact that Blackstreet Capital fully disclosed the fees did not affect the SEC’s conclusion that Blackstreet acted as an unregistered broker-dealer.

How an obscure nonprofit in Washington protects tax havens for the rich

To reach out to American officials and fund its U.S. operations, the center said it needed an infusion of cash for an eight-month campaign: at least $247,000.

Business is Booming for Ex-FBI Agent Turned Financial Fraud Buster

This week's arrest of hedge fund manager Murray Huberfeld for an alleged kickback scheme with New York City's correction officers union didn't surprise one particular private eye.

Pershing Launches New Resources to Help Firms Comply With DOL

“The combination of our new and existing tools helps our clients operate as fiduciaries.”

Already sizzling market for advisory firms could be stoked by DOL fiduciary rule

Deal flow and complexity on the rise when it comes to sales of adviser businesses

Legal, Regulation & Compliance