Managers of Wealth Americas

That’s not cool man! Bank regulators deny pot industry access to financial institutions

Financial institutions were hesitant to provide services to pot sellers, fearing repercussions for dealing with drug money.

Judge deals hedgie setback in $100M suit against neighbor

New York hedge fund tycoon Louis Bacon must have been on island time.

ITG Ousts CEO Gasser After Probe

Investment Technology Group’s investigation found Robert Gasser failed to disclose some details of alleged improprieties to board

Reformers Win Seats on FINRA Board

FINRA’s nominating committee, a subset of the current board, usually hand picks one individual for each seat.

Silver Law Group Investigates Former Merrill Lynch Broker Thomas Buck

Silver Law Group is investigating claims against Indiana-based stockbroker Thomas Buck, who earlier this week was barred by the Financial Industry Regulatory Authority from associating with any FINRA member firm and was accused by FINRA of improperly ch

IRS Proposed Rules On Private Equity Management Fee Waivers

These arrangements are increasingly common, but their tax treatment is receiving more scrutiny.

U.S. must wait for EU hedge fund "passports" - EU watchdog

The European Securities and Markets Authority also said it has not yet reached a view on whether hedge funds and other alternative investment funds from the United States should be given a "passport".

Wall Street watchdog bars former Merrill Lynch broker

As a result, Buck is permanently barred from selling securities at FINRA member firms.

SEC To Reject Second Application by Precidian For Non-Transparent ETFs

Eaton Vance Corp, which has received SEC approval to launch similar funds, called exchange-traded managed funds, disclosed the SEC's plans to deny Precidian's applications Monday morning.

Goldman Sachs Fined $1.8 Million for Reporting Violations

It is critical that firms have the necessary systems and supervision in place to ensure compliance with their OATS and trade reporting obligations

Insider trading case: Rajat Gupta opts for new legal recourse

In a memorandum submitted in the US District Court in Manhattan on Friday, Gupta is seeking a "certificate of appealability" that will enable him to appeal the ruling made by US district judge Jed Rakoff on July 02.

Indian-Origin CFO of Aphelion Absolved of Fraud Charges in US

In May 2014, the Securities and Exchange Commission filed a lawsuit against Palathinkal and Vineet Kalucha, the chief investment officer of Aphelion.

BlackRock says Italy's regulator dismisses charges over Saipem share sale

BlackRock welcomes the decision by the Italian regulator Consob to dismiss all charges against Nigel Bolton and the firm

Three ex-Oppenheimer Employees Settle SEC Penny Stock Charges

Three former Oppenheimer & Co. employees have agreed to pay civil fines and accept securities industry bans to settle U.S. Securities and Exchange Commission charges stemming from improper sales of billions of shares of penny stocks.

Two more Swiss banks strike deals with U.S. over tax evasion

The United States aims to reach accords with all of them by the end of 2015.

US probes banks in FIFA scandal

US regulators are probing large banks including Credit Suisse, Deutsche Bank and HSBC over their possible handling of tainted funds in the FIFA corruption scandal

Lawsuit accuses 22 banks of manipulating U.S. Treasury auctions

The pension fund said its "expert economists" observed wide gaps between when-issued and auction prices around December 2012

The SEC’s investment management division has some things to tell you about cybersecurity

Brooks Pierce McLendon Humphrey & Leonard LLP

Key regulatory job created at Federal Reserve still vacant after 5 years

The vacancy hasn't appeared to hinder the Fed's drafting of new rules

With Offshore Accounts, Fifth Amendment Protections Don't Apply

You might think your bank records–especially foreign banks–are personal and confidential.

Legal, Regulation & Compliance