Managers of Wealth Americas

Law firm promotes island in the Big Apple

The general mood among the speakers and delegates was that the increased transparency created by FATCA

Morgan Stanley Raises CLO Forecast as Volcker Headwinds Ignored

Concern that regulatory scrutiny will curb the market for collateralized loan obligations may have been overblown.

Coutts braced for hit from US tax inquiry into Swiss bank clients

Coutts said it was ‘taking a judicious approach to its involvement’ with the US Department of Justice settlement

U.S. SEC expands probe into top banks’ hiring in Asia: WSJ

The regulator has not accused any of the banks of wrongdoing, the paper said.

UBS faces $5 million class action claim on Puerto Rico bond funds

Plaintiffs say the firm breached its fiduciary duty in selling proprietary funds that were not in the best interests of clients

Hedge Fund Advisory Firm Accused Of Distributing Falsified Performance Results

The Securities and Exchange Commission today announced fraud charges and an asset freeze against a New York-based investment advisory firm and two executives for distributing falsified performance results to prospective investors in two hedge funds they m

Morgan Stanley fined $5 million over retail sales of 83 IPOs

The regulator said the unit treated the phrases interchangeably, even though indications of interest lead to share purchases only if investors reconfirm them, while conditional offers to buy can result in binding share purchases unless investors revoke th

U.S. wants Credit Suisse to plead guilty in tax dispute-report

Credit Suisse is one of over a dozen Swiss banks under criminal investigation in the United States

BofA’s Estimated Excess Legal Costs Drop to $5 Billion

Bank of America is among at least eight banks under investigation for misleading investors

Ex-Mizrahi Banker Said to Be Indicted in U.S. Tax Fraud Case

The bank wasn’t named as a defendant in the indictment filed yesterday in federal court in Los Angeles, which referred to “Bank A.”

U.S. banks to help regulators in tax evasion probe - WSJ

The move comes as the U.S. Justice Department ramps up its investigations of Swiss banks

Swiss Enabler to Plead Guilty in Credit Suisse Tax Case

The founder of a Swiss trust company that federal prosecutors say worked with Credit Suisse Group AG to help American clients evade taxes is expected to plead guilty today in Virginia, according to court records.

Update 2-U.S. SEC official slams agency over deal struck with RBS

Companies that have a WKSI status enjoy numerous benefits

Money Manager Admits to Operating $96 Million Ponzi Scheme

A New York money manager pleaded guilty to running a $96 million Ponzi scheme that was used to buy luxury homes and cars and to finance an unprofitable 117-unit resort in eastern Long Island, prosecutors said.

House Votes To Give Banks a Volcker Rule Exception

The U.S. House passed a bill that would exempt some debt securities from the Volcker Rule, signaling that regulators would have support if they grant banks a similar exception.

US Prosecutors take forex probe to London

US criminal prosecutors have flown to London to question individuals as part of their probe into the alleged rigging of foreign exchange rates in a sign that the stakes are getting higher for the traders involved in the sprawling probe.

Ex-Finance Chief at Bank of America to Pay $7.5 Million in Settlement

The settlement is the latest move in Mr. Schneiderman’s broader crackdown on the Wall Street executives

Ex-Barclays New York Traders Charged in U.K. Libor Probe

Three former Barclays Plc derivatives traders in New York were charged by U.K. prosecutors with manipulating Libor, becoming the first U.S.-based bankers to be accused in the British probe.

Bank Execs. Say Hedge Fund Manager Racially Defamed Them

Jones and Davis set up Certus in 2010

FINRA Wants B/Ds To Dig Through Advisors' Pasts

FINRA passed new rules Thursday requiring broker-dealers to perform background checks on incoming brokers.

Legal, Regulation & Compliance