Managers of Wealth Americas

Four Things That Offshore Funds Should Not Do

Most offshore funds that trade U.S. instruments manage to avoid the ECI issue by restricting themselves to U.S. activity that fits within the “stocks, securities and commodities” safe harbor.

Big investors going short on the short end to play Fed hike

Successive rate hikes in 2016 "will benefit the long end (versus) the short end," said Rick Rieder

Palm Beach bank exec’s drug charge ‘an aberration,’ friends write

Anderson faces up to one year in prison and $100,000 in fines.

Brokerage employee gets 3 years in U.S. prison over Venezuelan bribes

His sentence was confirmed by a spokesman for Manhattan U.S. Attorney Preet Bharara, whose office had pursued the case as part of a foreign bribery probe involving Direct Access Partners and Venezuelan state-owned development banks.

SEC Announces Fraud Charges Against Investment Adviser

The SEC complaint charges AAM with violations of the antifraud provisions of the Investment Advisers Act of 1940 and related rules as well as violations of Section 207 of the Advisers Act by failing to disclose BFG’s ownership interest in the Form A

Chief: Bank ready to step up stimulus Voice Herald

The bond market was especially roiled by the ECB's move.

JPMorgan to Soon End 'Product Steering' Probe for $150M?

JPMorgan plans to settle the matter for over $150 million. The settlement, which was expected to be resolved several months ago, could be announced as soon as Friday.

Marijuana Investors Get Boost From N.Y. Legalization

The four other pot dealers that were granted licenses by the New York Department of Health are Bloomfield Industries, Columbia Care NY, Etain and PharmaCann.

Banks Seek Capital From Fed in Wake of Dividend Reduction

Big banks want lawmakers to lower capital they must keep at Fed’s reserve banks

Former Head of Offshore Brokerage Pleads Guilty to Conspiracy to Commit International Stock Fraud and Money Laundering Scams

Gallison admitted that he and others then “dumped” or sold the shares at the inflated prices and laundered proceeds through bank accounts in the United States and overseas.

Justice Department Announces Two Banks Reach Resolutions Under Swiss Bank Program

Banks already under criminal investigation related to their Swiss-banking activities and all individuals were expressly excluded from the program.

BTG Pactual Said to Work With Lazard on Swiss Private Bank Sale

BTG and the New York-based financial adviser are reaching out to possible buyers including Swiss banks and foreign lenders

U.S. Appeals Court Overturns SEC Commissioners in State Street Case

The decision is a defeat for SEC Chair Mary Jo White, who last December joined a 3-2 majority in holding Flannery and Hopkins civilly liable.

Donald Trump could spook financial markets in 2016

The observation from Nigel Green, the founder and CEO of deVere Group, comes after the U.S. Republican presidential candidate sparked worldwide controversy by announcing he wants to ban Muslims entering the United States.

MarketCounsel: RIAs need their own SRO

The problem with advisor examination is not the frequency, but the content.

Former Western Asset Employee Arrested on Cyber-Intrusion Charges

Former employee accused of illegally accessing company emails

US and Dominican Republic sign mutual recognition arrangement

The United States has now signed 11 MRAs with other customs administrations across the world.

DOJ Urges Justices To Reject Appeal By Ex-UBS Execs

In its opposition, the DOJ maintained its argument that the 1989 Financial Institutions Reform Recovery and Enforcement Act covers the actions of Peter Ghavami

SEC prepares new Credit Suisse charges

The case is unusual for the watchdog, so it is not clear what kind of penalties Credit Suisse might face.

SEC to Consider Rule to Limit Funds' Use of Derivatives

White also noted the recently proposed rule to enhance data reporting by investment companies and advisors

Legal, Regulation & Compliance