Managers of Wealth Americas

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?

Standard Bank Accused of Metals Price Fixing- US Law Suit

Goldman Sachs Group Inc, Germany's BASF SE and Standard Bank and one other big platinum and palladium dealers have been sued in the US.

U.S. prosecutors to interview London FX traders - sources

U.S. prosecutors will travel to London in the coming weeks to interview traders about currency market manipulation, the latest sign that authorities are closer to filing criminal charges stemming from the long-running probe, sources told Reuters.

FBI Files Say Hedge Fund Analyst Made Millions on Tips From Dell Insider

The FBI files spell it out: An analyst at Citadel LLC, the hedge fund with $23 billion in capital invested globally, told agents he made millions of dollars trading on information from a company insider.

U.K. Pressures BofA Unit on Risk Management

British Regulator Describes Current Practices at Bank’s European Arm as ‘Simplistic’

Swiss-based private banking arm to pay £10m over US charge

The unit failed to register with the S.E.C. before providing advice to American clients, an omission that allowed it to avoid scrutiny in Washington.

CFTC Pardons Family Offices from Registration as Commodity Trading Advisor

Wealth creators and preservers for America’s most affluent families will take heed of new measures that provide family offices exemption from registering with authorities as Commodity Trading Advisors.

Regulator Probes HSBC Info Leak To Hedge Fund Allegation

The alleged event is said to have taken place in March 2010, when HSBC advised British insurer Prudential PLC on a huge acquisition and was working on a related multibillion-dollar currency deal.

US Class Action suit claims Standard Bank and others rigged platinum price

Bill Murphy’s outspoken GATA organisation has been claiming for decades that the world’s major banking institutions have been manipulating the gold price.

Citigroup fined $15m for equity research failings

Citigroup, which settled the allegations with FINRA, neither admitted nor denied the charges, but consented to the entry of FINRA's findings.

Regulators Give Passing Grade to Wells Fargo Plan on Theoretical Bankruptcy

Fed Says Big Bank’s Bankruptcy Plan Is Better Than Peers

Banker says debt drove him to crime

The government has brought six prosecutions since 2013 related to the collapse of Wilmington Trust as an independent bank.

SFOS Win Regulatory Relief From US Commodities Watchdog

The relief comes after a successful campaign by the Private Investor Coalition for an exemption for single family offices.

JPMorgan Hacking Raises Alarm About Banks’ Cyber Defences

The hacking of JPMorgan has exposed the potential vulnerability of the global financial system to cyberattacks

Legal, Regulation & Compliance