Managers of Wealth Americas

PIMCO Hits Back at Gross Lawsuit

The Newport Beach investment giant has questioned the grounds of its former co-CIO’s $200 million legal complaint in its official response.

Aspiriant Plans to Buy Another California Wealth Firm

Hokanson’s San Diego office will become the buyer’s fourth location in California and ninth in the U.S. overall.,

Brazil lower house passes amnesty for unreported offshore assets

The bill passed the House by a vote of 230-213; it must still be approved by the Senate.

Three charged in record cyber-attack on financial firms

Three men have been charged in relation to the largest cyber-attack on financial firms in US history.

British Traders Facing US Jail Over Libor

A senior British banker slumps over a table in court after being convicted of plotting to rig the benchmark interest rate Libor.

Deutsche Bank to pay $258m penalty for violating US sanctions

The US government prohibits doing business in countries such as Iran, Syria, Libya and Sudan as they are considered havens for possible terrorist financing.

Terrorism victims sue BNP Paribas for violating sanctions

BNP was laundering money for clients in Sudan in the years leading up to the bombing

SEC Announces Whistleblower Award of More Than $325,000

No money is taken or withheld from harmed investors to pay whistleblower awards.

U.S. News & Best Lawyers Names McDermott “Tax Law Firm of the Year” and Awards Firm Top Rankings in More than 20 National Practices

The U.S. News – Best Lawyers® “Best Law Firms” rankings are based on a rigorous evaluation process

Ex-JPMorgan U.S. adviser pleads guilty to embezzling $22 million

Under a plea agreement, Oppenheim has agreed to waive his right to appeal any prison term of about 10 years or less and forfeit $22.4 million and pay $27.3 million in restitution.

SEC Charges Private Equity Firm and Four Executives With Failing to Disclose Conflicts of Interest

The case was supervised by Panayiota K. Bougiamas of the Asset Management Unit.

U.S. Placed Above Cayman Islands in Financial Secrecy Blacklist

Singapore and the Cayman Islands were placed fourth and fifth in the TJN rankings

CIBC Comments on Cerberus' Lawsuit

Since 2008, CIBC has satisfied its obligations including making 84 monthly payments totaling more than $1.24 billion

Credit Suisse Brokers Fret over Wells Fargo Recruitment Deal

As Credit Suisse offloads the business, Wells Fargo has stepped in to offer its brokers a sign-up deal of 300% of annual fees and commissions — with two major caveats

Bank of America Agrees to $335M Settlement of MERS Litigation

The investors also alleged B of A knew it couldn't raise adequate capital to repurchase billions of dollars in securities that used Countrywide Financial-originated loans as collateral.

PwC Canada Merges in RHB Schmitz de Grace

RHB specializes in helping private companies with financing, risk mitigation, accounting, audit and tax compliance, business evaluation, wealth management and succession planning.

Grant Thornton settles lawsuit for $4.4 million

The company declared bankruptcy soon after the discovery that a Cayman Islands subsidiary had booked $4 billion in nonexistent cash and securities accounts.

US financial watchdog sets rules to ease crowdfunding

Crowdfunding -- the best-known example of which is probably the popular American website Kickstarter -- is a model of alternative financing that has developed enormously in recent years.

Morgan Stanley to face Russian tycoon's insider trading claims

In a trial starting on Monday, Morgan Stanley will confront a Russian billionaire's claims that it illegally short-sold a company based on inside information at the height of the financial crisis.

Tax Issues Take Center Stage For RIAs Focused On High Net Worth

U.S. investors are bemoaning the tax drain on their savings and seeking help to reduce the bite, Bloomberg Markets magazine reports in its December issue.

Legal, Regulation & Compliance