Managers of Wealth Americas

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.

NY regulator sets sights on bank-backed messaging service

New York state's banking regulator has written to the firm behind a new instant messaging service backed by Wall Street's biggest banks asking about its document retention policies.

CFPB Orders Citibank to Pay $700 Million in Consumer Relief for Illegal Credit Card Practices

Millions of Consumers Harmed by Bank’s Deceptive Marketing and Unfair Billing of Credit Card Add-On Products and Services, and Other Unlawful Practices

Real estate investments, transparency, and the rising popularity of bare trusts to avoid taxes

B.C. Green party MLA Andrew Weaver isn't the only politician who wants to amend regulations to determine who's investing in residential real estate.

U.S. SEC Official Rips Proposed Brokerage Fee Limits as 'Nanny-Statism'

Securities and Exchange Commission Republican member Daniel Gallagher said in a public comment letter that the Labor Department's plan would actually hurt the middle-class investors it is designed to help.

Asset managers are still in need of some tough reforms

The need to identify risks in the system has intensified

Fed Lifts Capital Requirements for Banks

J.P. Morgan faces highest capital increase of the group at 4.5% of risk-weighted assets

Fed directs 8 biggest banks to hold extra capital

Most of the banks have already put away the additional capital.

Arrival of the Volcker rule spurs sales of CLOs

Its arrival has spurred a selling of collateralised loan obligations in recent months, because it limits banks’ holdings of certain types of these securities.

SEC awards more than $3 million to Phillips & Cohen whistleblower client

To protect the whistleblowers' confidentiality as provided by the Dodd-Frank Act, the SEC doesn't disclose information

IRS May Crack Down on Retirees Failing to Take IRA Distributions

If it’s an honest mistake, you can make one withdrawal to cover all the misses and fill out IRS Form 5329 for a standard waiver

Robbins Geller Rudman & Dowd Obtains $388 Million Recovery in J.P. Morgan MBS Class Action

The settlement was achieved after six years of hard-fought litigation and an extensive investigation

Fed probes RBC role in City National loan, possibly delaying merger deal

The probe could delay the planned $5.4-billion takeover of the big Los Angeles bank by RBC, one of Canada’s largest financial firms.

Ex-Barclays Team Denied Claims, Ordered to Pay Millions

They were a group of senior UBS advisors who joined Barclays in 2011 to bolster its outreach to ultra-high-net worth Latin American clients.

Democrat Senators Introduce Bankruptcy Bill for Puerto Rico | Sovereign Wealth

Failure to pay that debt without an orderly workout would in effect begin a cascading series of chaos

Handler Thayer Wins Unprecedented Recognition

We are grateful to receive this unprecedented recognition and for the dedication and commitment shown by our professional team over these many years

SEC slaps OZ Management with $4.25m penalty for bad data

OZ Management, an investment adviser for numerous Och-Ziff funds, admitted wrongdoing and agreed to pay a $4.25 million penalty to settle the charges.

Deutsche Bank Inquiry Deepens as New York Seeks Moscow Memos

The formal request for information, which was sent last week, the person said, marks a deepening of the New York State Department of Financial Services’ probe into Deutsche Bank’s activities in Russia.

Napkin-eating broker at center of $5.6m insider trading scheme avoids jail time

Frank Tamayo allegedly used napkins and Post-it notes to convey sensitive information and will return $1m, his Audi Q7 and testify against friends

Legal, Regulation & Compliance