Managers of Wealth Americas

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.

Julius Baer Has Reached an Agreement in Principle with the U.S. Attorney’s Office for the Southern District of New York

Julius Baer has reached an agreement in principle with the U.S. Attorney’s Office for the Southern District of New York with respect to a comprehensive resolution regarding its legacy U.S. cross-border business.

PwC audit found no problems at Third Avenue's failed junk bond fund

PwC said an audit includes examining, on a test basis, evidence supporting the amounts and disclosures in a fund's financial statements and significant estimates made by management.

Ex-JPMorgan Personal Bankers Accused of Theft From the Dead

Jonathan Francis, 27, and Dion Allison, 30, were charged with crimes including conspiracy and second-degree grand larceny.

Two Chinese citizens in insider trading settlement with U.S. regulator

Both companies later announced private equity takeovers in deals where one of the bidders had been TPG, where Yooli.com Chief Executive Yannan Liu, Zhou's cousin, previously worked

Legal, Regulation & Compliance