Managers of Wealth Americas

SEC charges Sands Brothers Asset Management with custody rule violations

The U.S. Securities and Exchange Commission charged Sands Brothers Asset Management LLC with custody rule violations for the second time in four years.

Ex-Contrarian Executive Charged With Embezzling Millions

After appearing yesterday in federal court in Bridgeport, Herzing was released on a $5.6 million bond, $2.6 million of which is secured by his home, Deirdre Daly, the U.S. attorney for Connecticut, said in a statement.

SEC charges NJ-based HF manager with insider trading

The SEC has filed insider trading charges against a New Jersey-based hedge fund manager who allegedly used material, nonpublic information to trade in advance of market-moving news concerning Carter's Inc.

Merrill to Pay FINRA $6 Million Over Reg SHO Violations

Censures and fines involve Merrill's ‘business that clears trades for market makers,’ not Merrill's wealth management business

Managers more serious about compliance

Private equity and hedge fund managers, prodded by their institutional clients, are taking compliance more seriously as federal examiners and enforcers up their game targeting practices they say put investors at a disadvantage.

BofA Mortgage Settlement Stalls Over SEC Political Fight

A final piece of Bank of America Corp's record $16.7 billion toxic-mortgage settlement is being held up by an internal fight at the U.S. Securities and Exchange Commission

Rengan Rajaratnam to settle SEC insider trading charges

Former hedge fund manager Rajarengan “Rengan” Rajaratnam has agreed to pay more than USD840,000 and accept securities industry bars in order to settle the Securities and Exchange Comission’s (SEC) insider trading case against him.

Another Hedge Fund Sues Argentina

Last year, Argentine authorities raided a Buenos Aires factory co-owned by Dart founder Kenneth Dart.

Deutsche Bank lawyer found dead in New York

Gambino was an associate general counsel and a managing director who worked for the German bank for 11 years, according to the Wall Street Journal, which first reported his death.

Virgin Islands Sues Buchanan, Bank of America Over 2006 Bonds

The authority did not redeem any of the bonds with surplus revenues, violating its covenant.

Wragge Lawrence Graham & Co advises Euroclear on DTCC joint venture

Wragge Lawrence Graham & Co has advised longstanding client Euroclear on its agreement with the US’s Depository Trust & Clearing Corporation to develop a joint collateral processing service.

Deloitte named a leader in Global Risk Management Consulting services by Gartner

Cyber Risk Services and Crisis Management round out broad portfolio Deloitte considers cyber risk services to rank among its most important offerings in the marketplace.

U.S. court tosses Argentina appeal over funds held by BNY Mellon

Griesa had ruled that the $539 million that Argentina deposited in June with BNY Mellon for bondholders who participated in two sovereign debt restructurings was "illegal"

Fiduciary Advocates: We Need a New Strategy

The brokerage industry, after all, outspends the RIA industry. SIFMA spends $2 million a year in lobbying dollars, while the Financial Planning Association spends $40,000, said Bill Prewitt, founder of Charleston Financial Advisors.

Bingham Faces Internal Battles Amid Uncertain Future with Morgan Lewis

A month after Bingham McCutchen’s management disclosed to its partnership plans to merge with Morgan, Lewis & Bockius, lingering issues remain over what a combined firm might look like.

Leading Tax Attorneys Join Fried Frank

Mr. Thornton advises clients on the tax aspects of a range of business matters

Ex-UBS Adviser Says Weil Was At Meeting On Hiding Accounts

A former UBS AG client adviser on Tuesday placed the Swiss bank's ex-wealth management head Raoul Weil at meetings in 2002

Citigroup Directors Prevail in Second LIBOR Lawsuit

For the second time this year, a shareholder derivative case against Citigroup's directors that alleged they should be held personally liable for losses stemming from the bank's misstatement of LIBOR, has been rejected by the Commercial Division

Billionaire's Hedge Fund Sues Ex-Employees Over New Fund

We didn’t misrepresent anything when it comes to advertising or generally speaking with people in terms of our roles at Bridgewater.

Barclays Sued by Fired Banker Over Latin America Pullback

A former Barclays Plc unit managing director in Latin America sued the company over its pullback from the region

Legal, Regulation & Compliance