Managers of Wealth Americas

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

Bitcoin and the Blockchain Take the Stage for International Summit of Central Banks at the Federal Reserve

Conference participants were told that their discussions would be off the record – no recordings or videos would be allowed.

Accused JPMorgan Hack Mastermind Pleads Not Guilty in U.S.

The proceeds from the illegal operations were shuffled through Cyprus, Azerbaijan and Switzerland, prosecutors said.

SEC: Morgan Stanley Failed to Safeguard Customer Data

The SEC appreciates the assistance of the New York Field Office of the Federal Bureau of Investigation and the U.S. Attorney’s Office for the Southern District of New York.

SEC Issues $17 Million Whistleblower Award

The award is the second-largest issued by the SEC since its whistleblower program began nearly five years ago. The SEC issued a $30 million award in September 2014 and a $14 million award in October 2013.

FINRA Sanctions Oppenheimer & Co. $2.9 Million for Unsuitable Sales of Non-Traditional ETFs and Related Supervisory Failures

FINRA also found that Oppenheimer failed to conduct adequate due diligence regarding the risks and features of non-traditional ETFs and, as a result, did not have a reasonable basis to recommend these ETFs to retail customers.

Proskauer Represents New Ownership of Luxury Adirondacks Resort Property, The Point Resort

The Point Resort is a member of Relais & Châteaux, a prestigious Paris-based hotel association

How to Avoid Pension Advance Scams

While there’s been increased attention paid to these practices, they haven’t gone away.

Legal, Regulation & Compliance