Managers of Wealth Americas

Banks Brace Ahead of Vote on Volcker Rule

Regulators from five different agencies have come to agreement on the terms of the Volcker Rule, and they will each formally vote to adopt the once-thought-to-be-dead rule by Dec. 10.

Regulators still struggling to balance protection with growth, according to financial service firms

Overall, 49% thought that no regulator had succeeded in this respect, with a majority of respondents in the US and the UK holding this view.

KKR, Castleton to Pursue Bid for J.P. Morgan Commodities Business

The duo of Castleton Commodities International LLC, of Stamford, Conn., and KKR is one of several groups in the running for the assets, which the New York bank is selling as regulators push banks to exit physical-commodity trading.

Fifth Third Bank Settles SEC Accounting Charges for $6.5M

The Securities and Exchange Commission today charged the holding company of Cincinnati-based Fifth Third Bank and its former chief financial officer with improper accounting of commercial real estate loans in the midst of the financial crisis.

SEC proposes rules for crowd funding registration exemption - Withers

The JOBS Act crowd funding provisions provide an exemption from registration for securities offerings under certain conditions. The recent proposed rules are not final, and the SEC is accepting comments on the proposed rules until 3 February 2014.

BNY Mellon Wealth Management And Its Chief Fiduciary Officer Accused Of Campaign Against Famed Sculptor's Heirs

The new suit accuses BNY and Newman of violating the 2009 settlement agreement, as well as of Breach of Fiduciary Duty.

Financial institutions specialty law firms merge

The combined firm will have acted as counsel to both issuers and underwriters in over 1,000 securities offerings raising more than $40 billion, and acted as counsel for both buyers and sellers in over 800 merger and acquisition transactions totaling in ex

Wells Fargo: U.S. targeting executive as defendant may be retaliation

Wells Fargo & Co said Monday that a U.S. government request to add one of its executives as a defendant in a fraud case may be in retaliation for the bank's decision to cut off settlement talks.

Bank of America Reaches Settlement With Freddie Mac

Freddie Mac, the mortgage finance giant that nearly failed five years ago.

Swiss regulator urges banks to come clean on U.S. tax offences

Both the U.S. and Switzerland are eager to draw a line under a probe into undeclared money wealthy Americans have stowed in tax havens.

Canaccord to pay over $1-million to settle claims of inadequate supervision of retail accounts

From 2005 through 2010 Canaccord failed to ensure that certain of its branch managers properly carried out their responsibility to supervise retail account activity

Ex-Banker to Answer Charges in U.S.

The legal case is the latest turn in the U.S. probe of American tax evasion in Switzerland.

Lehman Brothers Sues Wellmont, Americredit Over Soured Swaps

The surviving remnants of Lehman Brothers Holdings Inc. are suing two former swaps counterparties over soured swaps

Tom Mulcair: Jim Love Should Be Fired Over Offshore Tax Scheme

Tom Mulcair is calling on the Harper government to fire the chairman of the Royal Canadian Mint over his role in a tax avoidance scheme.

Under Investigation, Hedge Fund Manager Resigns As Pension Adviser

A hedge fund manager facing a Securities and Exchange Commission fraud probe has resigned as adviser to the New Haven, Conn., Police and Fire Pension Fund Retirement Board.

Barclays Capital Ordered to pay $2.1 mln to NY Trader

Barclays Capital Inc has been ordered to pay $2.1 million to a New York-based trader it fired last year in connection with the alleged rigging of the London interbank offered rate, or Libor

Citigroup can't block Abu Dhabi arbitration over $7.5 billion stake

The case arose from one of Citigroup's earlier efforts to shore up its capital base, in the wake of billions of dollars of writedowns tied to subprime mortgages.

Puerto Rico Leads The Way In Investor Protection

We have been blogging about Puerto Rican municipal bonds over the last several weeks.

RBC Urges SEC to Test Overhaul of Stock-Exchange Business Models

The practice among stock exchanges of paying rebates to some traders puts long-term investors at a disadvantage and the Securities and Exchange Commission should consider eliminating the system

Ex-Credit Suisse Trader Gets 30 Months in Jail

A former top Credit Suisse trader was sentenced to two and a half years of prison.

Legal, Regulation & Compliance