Managers of Wealth Americas

SEC Orders 3 Ex-LPL Advisors to Pay More Than $1.5M

What's unclear is whether Concord's founders also hid this practice from LPL Financial

Bill Calls for Moratorium on Bitcoin Regulation

A bill has been introduced in the House of Representatives which seeks a five year moratorium on statutory restrictions or regulations on cryptocurrencies such as Bitcoin.

Penningtons Manches Opens In San Francisco

This builds upon the firm's considerable network of clients and contacts in San Francisco and Silicon Valley.

Indian Fund Manager Asked to Pay USD 390K Settle Charges

Shah was at the time a portfolio manager at an asset management firm that managed billions of dollars in mutual funds and a hedge fund.

SEC sanctions foreign bank for failure to register - Withers

The US Securities and Exchange Commission (SEC) has issued a cease and desist order and has imposed remedial sanctions upon a foreign bank which failed to register as a broker-dealer or as an investment adviser.

Operator of Bitcoin Stock Exchange Penalized By the SEC

The SEC’s order further finds that Burnside and BTC Trading Corp. failed to register the LTC-Global exchange

SEC Sanctions Eight Audit Firms for Violating Auditor Independence Rules

The firms, which consented to the orders without admitting or denying the findings, will collectively pay $140,000 in penalties and must comply with a series of remedial undertakings designed to prevent future violations of these independence requirements

Bad news for Bernie Madoff victims

Court limits effort to access some profits

Citibank Sued in Abu Dhabi; Accused of Self-Dealing, Defrauding Investors, and Hiding Losses

Citibank was sued by investor Dr. Sami Abbas Hussein Ali before the Abu Dhabi Commercial Court of First Instance on 08/12/2014.

Bank of America Corp Waiver Appraised By SEC Member, Calls It “Breakthrough”

The regulatory waiver given to the largest bank of the U.S., Bank of America Corp, has been praised by another Securities and Exchange Commission member who called it a “breakthrough” in commission’s methods to handle waivers.

Barclays Hid Traders’ Role After Questions: Schneiderman

Barclays Plc asked that a federal judge in New York handle claims it hid the role of high-frequency traders in its dark pool, saying the evidence in the case is “incredibly complex” and includes millions of trading records.

Wall St called out by regulators for stalling on risky swaps rule

US regulators are getting fed up with Wall Street’s attempts to stall a restriction on risky swaps trades.

Top NY Cushman exec departs firm

Former COO left after her $20M age and gender discrimination lawsuit was “resolved”

Swiss Banker Seeks Bail in U.S. Tax Case Without Going to Court

A Swiss banker accused of helping U.S. clients cheat on their taxes wants a judge to grant him bail without his having to appear first in a New York courtroom.

Tight new rules may boost shadow banks, U.S. risk watchdog warns

Tough new rules to make banks safer after the credit crisis are imperfect and could boost less-regulated activities in the so-called shadow banking system,

Clifford Chance Expands Leading Structured Finance Practice

Five-lawyer securitization and mortgage finance team brings new capabilities to the Firm's Washington, D.C. office

UBS Must Face Loreley Fraud Claim in Lawsuit Over CDO Losses

Loreley sued UBS over what it said were four fraudulent CDOs, one of which was arranged by UBS “at the behest of” Magnetar Capital LLC, a hedge fund that had bet against the housing market and selected the collateral for the securities, accord

Switzerland's bank staff shun aid fund for U.S. tax case

Only a handful of staff at Swiss banks have drawn on a $2.6 million fund set up to help bankers and other employees who have fallen on hard times because of a U.S. crackdown on tax evasion through hidden offshore accounts.

Volcker Rule isn’t that tough on Goldman, Morgan Stanley, S&P says

S&P said the banks can maintain their strong market positions in advisory, underwriting and sales and trading despite the growing regulatory burden.

AIG Case Could Hing On Willingness of Government To Consider Chinese Bailout

Was a Chinese sovereign wealth fund willing to immediately write a check?

Legal, Regulation & Compliance