Managers of Wealth Americas

Ex-Goldman banker Fabulous Fab ordered to pay $825,000 fine

The judge also specified that Goldman will not be allowed to pay the fine on Tourre’s behalf.

Finra issues bitcoin investor alert

The Financial Industry Regulatory Authority issued a new investor alert called Bitcoin: More than a Bit Risky to caution investors that buying and using digital currency such as Bitcoin carry risks.

FINRA Hits Securities America, Triad with $1.2M Fine

A consolidated report is a single document that combines information regarding most or all of a customer's financial holdings, regardless of where those assets are held.

In ‘Frustrating’ Tax Evasion Probe, DOJ Secures Plea

A former banker with Credit Suisse Group AG pleaded guilty today to conspiring to defraud the Internal Revenue Service and admitted that superiors knew of efforts to hide money for U.S. customers.

Hedge Fund Madam Cops Plea To Drug Charges

The agreement with prosecutors will see her jailed for up to five years—far less than the 80 she originally faced.

Societe Generale, BNP Paribas and Credit Agricole under US Probe for Alleged Sanction Breaches

US authorities are probing French banks Societe Generale, BNP Paribas and Credit Agricole for alleged misappropriation and violating American sanctions against other countries.

JPMorgan whistleblower gets $63.9 million in mortgage fraud deal

A whistleblower will be paid $63.9 million for providing tips that led to JPMorgan Chase & Co's agreement to pay $614 million and tighten oversight to resolve charges that it defrauded the government into insuring flawed home loans.

US firms muscle in on Hong Kong

Hong Kong IPO activity is hotting up again, but UK legal stalwarts are looking over their shoulders as US rivals make up ground fast

Jailed Broker Charged With Additional Fraud

A former Merrill Lynch and Smith Barney broker, who is already in jail for fraud, was indicted again in connection with a nearly two-decade-long scheme to drain clients’ investment and bank accounts

SEC Issues Guidance on Aggregate Advisory Fee Rates for Multi-Manager Funds - Securities and Exchange Commission

In the traditional model, the primary adviser contracts with the subadvisers and compensates subadvisers from its primary advisory fee. In the “direct-pay” model, the fund contracts with and compensates directly the primary adviser as well as

Northern Trust Sued for Punitive Damages in Case of Severely Disabled Woman

Financial Company’s Reckless Incompetence Costs Accident Victim Millions, Amended Lawsuit Claims

Detroit to Pay $77 Million in Swaps Accord With UBS, BofA

The settlement, which is a 70 percent reduction in the amount the city was liable for under the 2009 agreement, will release Detroit from claims by the banks and provide “greater certainty with respect to the city’s cash flows and liquidity,&a

Jefferies Executive Tells Jurors Lying to Clients Improper

A colleague of former Jefferies & Co. bond trader Jesse Litvak, who is on trial in Connecticut for fraud in the trading of mortgage-backed securities, testified that it’s against the firm’s policy to lie to clients.

Old man sues Citi Bike, NYC for $15M after crash

Saying the accident left him unable to taste or smell

U.S. scrutinizing Swiss insurers in offshore probe

U.S. prosecutors are widening their probe of how Swiss banks helped wealthy Americans avoid taxes to look at insurers as well

U.S. SEC Plans Tougher Oversight of Large Asset Managers

The U.S. Securities and Exchange Commission is developing a plan to step up its scrutiny of the country's largest and riskiest asset managers

Bank of America faces new regulatory probes into housing and foreign exchange practices

Bank of America is facing new probes into its mortgage practices as well as its foreign exchange business.

Marijuana Money Isn't Welcome at This Bank

Even though the federal government has eased the way for banks to do business with the marijuana industry, at least one major lender is refusing to take the bait.

Credit Suisse Private Banking fined $196 million for US regulatory transgressions

The Securities and Exchange Commission today announced charges against Zurich-based Credit Suisse Group AG for violating the federal securities laws by providing cross-border brokerage and investment advisory services to U.S. clients without first registe

UBS seeks immunity as US and EU probe currency market rigging

UBS is seeking immunity in the US and European Union as part of the global investigation of currency markets

Legal, Regulation & Compliance