Managers of Wealth Americas

FINRA's 2016 Focus: Supervision, Liquidity and Securities Firms' Culture

It will also complete the review begun in late 2015 regarding incentives and conflicts of interest in connection with firms' retail brokerage business

JPMorgan to pay $4 million for false statements about broker pay: SEC

An SEC investigation found that although J.P. Morgan Securities LLC (JPMS) did not pay commissions to registered representatives in its U.S. Private Bank, compensation was not based on client performance.

JPMorgan's Dimon, others defeat Madoff fraud appeal

It acknowledged that this standard is "possibly the most difficult theory in corporation law upon which a plaintiff might hope to win a judgment.

Accounting Rule That Made Weak Banks Look Healthier Ended

Firms can now report changes in the value of their debt as part of “other comprehensive income,” which isn’t part of the bottom line that analysts and investors watch most closely.

U.S. Law Firm Consolidation Accelerated in 2015

Law firm mergers and acquisitions are a primary strategy to acquire new business in a market where demand is flat or constrained

2015, A Year in Review for the Legal Business

In the quest for growth, law firms continued to look overseas to countries such as China

Trustee Strikes $25 Million Settlement With Madoff Investor

Irving Picard reaches deal with Vizcaya Partners as well as with Vizcaya’s investors and their bank

US Justice Department Sues German Car Giant VW Over Emission Scandal

In September last year, following an investigation by US regulators, VW admitted fitting the so-called defeat device on 11 million vehicles globally.

Swiss bank to pay US$100 million to resolve US tax probe

This amount has been entirely provisioned and does not affect the capital ratios of the group or of the bank, which remains among the world's best-capitalized banks

FASB Proposes to Curb What Companies Must Disclose

Officials at the standards board said the change was intended to align accounting standards with Supreme Court rulings and literature

Deleted: FINRA Erases Many Broker Disciplinary Records

A Financial Planning investigation shows that a systematic expungement, or purging, of numerous advisors’ disciplinary histories not only raises questions about the value of BrokerCheck

Debevoise Names Six New Counsel and International Counsel

Their promotions became effective on January 1.

John Angelo, Co-Founder of NY Investment Firm, Dead at 74

Angelo began his finance career in 1966 working on the bond floor of the New York Stock Exchange

In Cohen and I.B.M. Insider Trading Cases, Challenges for the S.E.C.

In the first case, filed in 2013, the S.E.C. brought an administrative charge against Steven A. Cohen over his failure to supervise two employees accused of engaging in insider trading at his hedge fund firm

Apple to Pay $348 Million to Settle Italy Tax Probe

Authorities in Milan told the publication that Apple was under investigation for failing to declare earnings in Italy from 2008 through 2013.

JPMorgan Wants Ex-Advisor Found In Contempt Over Poaching Clients

Salvatore Alesia violated a previous court order prohibiting such conduct

Ex-Barclays Advisor Ordered to Return $1.4M to Former Employer

Webb managed more than $400 million in assets for high-net-worth clients as a senior director of portfolio management at BNY Mellon.

U.S. hedge fund founder is denied early release in insider case

An earlier appeal failed in February 2014.

Barclays in US$13.75 million US settlement over mutual funds

Barclays did not admit or deny wrongdoing in agreeing to the settlement

Regulators Shouldn't Rubber-Stamp Banks' CRA Efforts

Banks are posting huge profits and the stock market has surged in recent years.

Legal, Regulation & Compliance