Managers of Wealth Americas

Senior Management Increasing Efforts Globally To Combat Money Laundering

Attention being paid by senior management to money laundering challenges is at an all time high according to findings from a new KPMG International report.

Quinn Emanuel chief: associates, go and work on a beach

Quinn Emanuel Urquhart & Sullivan legal titan John Quinn tells The Lawyer why each associate is being handed $2,000 to spend a week working anywhere in the world. Clue: it’s not to unwind.

SEC charges Bermudian investment adviser and principal for illegal short selling

Rule 105 prohibits any person who makes a short sale of securities during a defined restricted period prior to the pricing of that offering from purchasing the same securities in that offering.

SEC Continues Microcap Fraud Crackdown

Pump-and-dump schemes are among the most common types of fraud involving microcap companies.

International law firm Continues Expansion of M&A Practice

They Join New York Office from Akin Gump and Allen & Overy

Hedge funds seek 1.8 billion damages from members of Porsche's owning family

The most recent lawsuit forms part of a legal campaign being waged by hedge funds in various courts across the world, seeking to recoup money which was lost by betting on a decline of Volkswagen's share price in 2008.

Norton Rose Fulbright launches global regulation and investigations practice

We identified global regulation and investigations as an area that is one of the greatest for clients in terms of concern, focus and spend

Feds Seeking $2.1B From Bank Of America

A jury has already found Bank of America, which subsequently bought Countrywide, liable. After that decision, the judge setting the penalty asked the parties for Countrywide’s gains rather than the Fannie and Freddie’s losses.

Biggest Banks Seen Meeting Basel Rules Five Years Ahead of Time

The world’s biggest banks exceed or comply with capital levels under regulators’ Basel 3 proposals five years before deadline, according to Fitch Ratings.

U.S. banking regulator, fearing loan bubble, warns funds

The Office of the Comptroller of the Currency has already told banks to avoid some of the riskiest junk loans to companies, but is alarmed that banks may still do such deals by sharing some of the risk with asset managers.

Jefferies to Pay $25 Million Over Mortgage Trading Probe

Jefferies Group LLC, the investment bank owned by Leucadia National Corp., agreed to pay $25 million to settle U.S. criminal and civil probes of suspected abuses in the trading of mortgage-backed securities after the financial crisis.

SEC Fights Turf War Over Asset Managers

Senior U.S. officials are clashing over whether the asset-management industry poses risks to the financial system, setting up a fight over whether the industry should face tougher oversight.

Bitcoin exchange joins HSBC in money laundering for drug sales

HSBC was found to have laundered over $670 billion over the course of four years, and this makes BitInstant's total amount pale in comparison.

SEC Charges Legg Mason Affiliate With Defrauding Clients

Cross trades serve a legitimate purpose and benefit both parties when done appropriately

State Street Chief Complains About Volcker, Regulatory Costs

The uphill climb banks face in addressing and paying for regulatory issues has proved steeper than State Street chairman and chief executive Joseph Hooley anticipated.

KPMG to settle SEC charges for $8.2 mn

US accounting firm KPMG violated rules aimed at maintaining auditors’ independence from their clients and will pay Rs 8.2 million to settle the charges

Bank of America’s trading practices come under probe

The disclosure on the FINRA site doesn’t specifically accuse Bank of America of any wrongdoing.

Accused Hedge Fund Fraudster Arrested In Colombia, Indicted In N.Y.

Prosecutors said he collected money from friends and former classmates for a hedge fund, but used the money to cover personal expenses, as well as to make Ponzi-style payments to investors.

Judge Says Goldman Must Face CDO Suit

Class-Action Suit Alleges Bank Defrauded Investors

Leading law firm launches new Operational Intelligence Group

Operational Intelligence Group set up in anticipation of more global risk and regulatory changes

Legal, Regulation & Compliance