Managers of Wealth Americas

Ex-UBS Banker Weil Heads Back to Court as He Prepares Defense

He is the highest-ranking banker charged in a U.S. crackdown on offshore tax evasion

J.P. Morgan Officials Excluded from Penalties in Madoff Deal

The decision contrasts with the approach taken last year in the case of J.P. Morgan's "London whale" trading debacle, where two former traders were charged with hiding losses on runaway bad bets that cost the bank more than $6 billion.

Profits Interests in Partnerships - Withers

It has been long settled in US tax law that the grant of a profits interest in a partnership is not a taxable event to the party receiving the interest.

Royal Bank of Scotland hit with $50m fine

The subsidiary pleaded guilty last April to wire fraud and admitted its role in manipulating the Japanese Yen London interbank offered rate, or LIBOR.

97% of Financial Firms Don’t Think Enough Has Been Done to Prevent Future Crash

Furthermore, just 12 per cent of respondents believe that regulators fully understand how the financial crisis happened in the first place.

US: EU members must share risks, costs in banking union

EU leaders and the European Parliament are at odds over how to wind down troubled banks. Bank resolution procedures are one pillar of the planned eurozone banking union.

JPMorgan on Brink of $2bn Bernie Madoff Fed Fine

JPMorgan is set to stump up $2bn to resolve a case with the Federal Reserve over suspicions that the bank ignored signs of Bernard 'Bernie' Madoff's Ponzi scheme.

50 Percent Of Executives Surveyed Say Companies Have Limited Or No Protocols For Cross Border Investigations - KPMG

This revelation comes at a time when data and employee privacy issues, often triggered by investigations, are dominating the headlines and major corporations are facing increased regulatory scrutiny around anti-bribery and corruption legislation

US fines Barclays $3.75m over e-record failures

Regualtor fines British bank Barclays for failure to preserve order trade data, emails and instant messages

SEC Examinations Find Compliance Progress at Credit Rating Agencies

The Dodd-Frank Act requires the SEC to examine NRSRO at least annually

Russia accuses USA of violating bank secrecy

The U.S. authorities have violated several provisions of the Vienna Convention

U.S. Bank Group Threatens Lawsuit Over Volcker Rule

The American bankers Association on Monday said it would mount a legal challenge to the "Volcker rule" unless U.S. banking regulators softened a provision of the rule that restricts bank ownership of certain investments.

Deutsche Bank to Pay $6.5M in FINRA Civil Charges

A unit of Deutsche Bank AG will pay $6.5 million to settle civil charges stemming from "serious and operational deficiencies" uncovered by regulators in its enhanced lending program

New NAMA revelations from US courts

THREE more businessmen have come forward with serious allegations about the leaking of information at NAMA, as controversy surrounding the bad bank deepens.

Credit Suisse Fraud Exceeded $1 Billion: N.J.’s Hoffman

Credit Suisse Group AG defrauded investors of more than $1 billion by misrepresenting the risks of its residential mortgage-backed securities

U.S. Preparing civil charges against Citigroup, Merrill Lynch

Civil investigators have compiled evidence that allegedly shows that investors lost tens of billions of dollars after purchasing securities Citigroup had marketed as safe even though the bank had reason to believe otherwise, one person said.

Appleby Reports Offshore Incorporation Activity For The First Half Of 2013

The number of new incorporations across the whole offshore region has fallen slightly compared with the previous six-month period but as the number of firms ceasing to trade has also dropped, this has allowed most registries to continue to grow. Many are

Legal, Regulation & Compliance