Managers of Wealth Americas

Regulators scrutinize financial risk-modeling firms

The document did not describe why staffers chose to highlight BlackRock Solutions

Citigroup Fires 11 More People Amid Probe of Banamex

Citigroup Inc., the U.S. bank investigating a $400 million loan fraud at its Mexico unit, fired 11 people for failing to prevent or discover the wrongdoing and said more will face punishment.

US prosecutors take harder line against European banks

The US Justice Department is seeking tough criminal penalties against European giants Credit Suisse and BNP Paribas as prosecutors aim to demonstrate that no institution is "too big to jail."

SEC Charges Unregistered Securities Salesman for Selling Millions of Dollars in Oil-and-Gas Investments

The Securities and Exchange Commission today charged a Tiburon, Calif.-based securities salesman for selling millions of dollars in oil-and-gas investments without being registered with the SEC as a broker-dealer or associated with a registered broker-dea

Sam and Charles Wyly Found Liable In Civil Fraud Case

The Securities and Exchange Commission scored a victory on Monday as a jury said the wealthy Wyly brothers committed civil fraud using a complex web of offshore trusts to hide stock sales and reap $550 million in profits.

SEC Charges Three Sales Managers With Insider Trading Ahead of Major Acquisition

The SEC’s investigation was conducted by Janet Weissman and Alka N. Patel of the Los Angeles Regional Office

Communication and transparency in the conduct of monetary policy by Charles Plosser, CEO, Federal Reserve Bank of Philadelphia

President Plosser believes that the Federal Reserve Board staff's model, called FRB/US, seems to be a reasonable starting point for providing economic forecasts based on those rule-based policies.

US regulator will hear appeal on 'Big 4' Chinese affiliates

The firms argued they were trapped between US law

U.S. Advances Offensive on Use of Swiss Insurance to Hide Assets

The NPA applies only to the four specific entities that are party to it and does not apply to any other subsidiaries of swisspartners Investment Network AG or any individuals.

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

Qatar's financial regulator bans, fines senior JP Morgan exec

A senior JP Morgan executive has been fined $20,000 and banned from being employed by any company operating in the Qatar Financial Centre over acts of "serious misconduct".

BNP Paribas, Credit Suisse Seek Leniency in U.S., NYT Says

The U.S., which has been investigating Credit Suisse for at least three years into whether it helped Americans evade taxes

BlackRock faces lawsuits over “disproportionately large” fees

Powerball-winning Florida adviser with stake in fund accuses firm of breaching fiduciary obligations

Colorado lawmakers approve plan for pot banking

Colorado lawmakers approved the first financial system for the marijuana industry Wednesday

Indian-origin executive charged with fraud in US

An Indian-origin executive at an investment advisory firm here has been charged by the US Securities and Exchange Commission with fraud and of siphoning investor proceeds to pay for his luxury car payments and settle other personal expenses.

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

Legal, Regulation & Compliance