Managers of Wealth Americas

JPMorgan Issues New Report Admitting Mistakes And Promising Improvement

Megabank JPMorgan Chase & Co. Chase has had to deal with numerous regulatory and criminal problems over the last decade.

Two Wells Fargo Units to Pay $1.5 Million for Anti-Money Laundering Lapses - FINRA

Two brokerage units of Wells Fargo & Co must pay a joint $1.5 million fine for failing to comply with anti-money laundering regulations by not verifying 220,000 new accounts during a nine-year period, the Financial Industry Regulatory Authority (FINR

Wells Fargo fined $1.5 million for AML failures

The firm failed to properly vet some 220,000 new client accounts, Finra said

U.S. regulators seek information on asset managers' risks

The U.S. financial risk council on Thursday requested information on asset managers' key risks as part of an attempt to determine whether the industry poses a threat to markets.

Two big banks sued over shoddy mortgage securities

A U.S. credit union regulator has filed a lawsuit against two major banks over shoddy mortgage securities they sold during the run-up to the financial meltdown.

Busted: Alts Manager Taken Away in Handcuffs

The alleged fraud unraveled when the firm accidentally sent a loan statement to a college roommate of Thibeault in Arizona

Emboldened Wall Street ready to dismantle Dodd-Frank financial law

Banks and financial institutions are planning an aggressive push to dismantle parts of the Wall Street reform law when Republicans take control of Congress in January.

BTG Pactual wins approval to start full banking operations in Chile

BTG Pactual entered Chile with the $600 million acquisition of brokerage firm Celfin Capital SA in February 2012, but until now has not been allowed to operate in Chile under its own platform.

Republic bank wins court case against HFC bank

The Supreme Court has quashed an earlier decision by a commercial court , that dismissed an application by Republic Bank to strike out a suit filed by HFC Bank.

Jorge Posada lost millions in ‘jaw-dropping’ fraud: lawsuit

Yankee great Jorge Posada has sued his money agents for allegedly duping him out of $11.2 million — stealing a major chunk of his wealth just three years after he retired from baseball.

Lehman trustee petitions U.S. Supreme Court over Barclays dispute

The trustee handling the liquidation of the brokerage unit of Lehman Brothers Holdings Inc filed a petition with the U.S. Supreme Court on Monday seeking review of the business's cash assets awarded to Barclays Plc (BARC.L).

SEC Junks Herbalife Insider-Trading Case

The regulator in October accused Jordan Peixoto of making nearly $50,000 in illicit profits after learning from a friend who lived with a Pershing Square analyst of the hedge fund’s intention.

Triad man arrested for alleged financial irregularities at wealth management firm

Police have arrested a Yadkin County man amid an investigation involving Fackrell Trivette Wealth Management.

Merrill Lynch Fined $1.9 Million for Violating Fair-Price Guidelines

Bank of America Corp. ’s Merrill Lynch unit violated fair-pricing guidelines nearly 720 times in retail customer transactions over two years

Do panic moves by central banks ever work?

A surprise interest rate hike by the Russian central bank late Monday night left analysts debating whether such "panicked" moves by officials have any genuine impact.

Boris Johnson risks US fine or jail over failure to pay American capital gains tax on London property

Boris Johnson risks a hefty fine or even a spell in jail if he fails to pay American capital gains tax on a London property he sold in 2009

New York Lawyer Charged in $5 Million Fraud Outlined in Suicide Note

The U.S. Securities and Exchange Commission also sued Bennett, saying he lured 30 investors with promises of 6 to 25 percent returns and misleading claims that a New York State governor and his then-wife were also investors.

Citigroup dealt second fine for prospectus lapses

Finra said the firm failed to deliver documents after ETFs were purchased by clients

Law Firms’ Profit Projected to Grow by 5% in 2015

The U.S. law firm industry is expected to see another year of profit growth in 2015, driven by an uptick in transactional work amid sagging demand for traditional litigation, according to a new report on the legal industry.

MF Global's investment banks to settle suit for $74 million

The proposed settlement calls for the seven investment banks, which underwrote investment offerings, to pay the plaintiffs $74 million, according to court papers filed in a New York court on Thursday.

Legal, Regulation & Compliance