Managers of Wealth Americas

Ex-Jefferies Trader Accused of Fraud

Federal prosecutors in Connecticut have accused Jesse C. Litvak, 38 years old, of misleading investors

Private Client Group transfers more than $1.2 billion in assets

Under the laws in place in 2012, an individual could transfer up to $5.12 million free of estate and gift tax

Credit Suisse could owe $2 billion in National Century fraud: judge

Credit Suisse Group Inc faces a potential $2 billion of exposure over fraud that occurred a decade ago at National Century Financial Enterprises, a result of a federal judge's determination on how to apportion responsibility.

Former Global Wealth Management Firm Employee Arrested on Insider Trading Charges

Kevin Dowd, 37, of Boca Raton, Florida, is charged by criminal complaint with conspiracy to commit securities fraud.

The Noose is Tightening on Offshore Tax Evasion

"For those US Taxpayers using foreign bank accounts, the noose is tightening," says FBAR Tax Attorney, Anthony Verni.

Fenergo’s FATCA solutions profiled in Datamonitor’s latest research

The financial services industry is facing a dilemma

Foreign Banks Rejoice: Overreaching U.S. Tax Law in Trouble

The penalty of not complying with FATCA will be that the institutions need to impose a 30% tax on non-compliant transfers or payments.

The Boom Years Are Not Coming Back, Get Used to It

Firms "can no longer rely on a rising tide that lifts all boats," the co-authors write. "In fact, the tide is out."

Morgan Stanley Seeks $10 Million From Convicted Ex-Trader

Serving five years in prison, he was a hedge fund manager at Morgan Stanley’s FrontPoint Partners LLC.

The case of Patricia Cornwell’s missing millions

The notoriously private author Patricia Cornwell, a titan of crime fiction, watched in court on Monday as her luxurious lifestyle was laid bare like the resolution to one of her plots.

UK court orders extradition of Credit Suisse exec

Officials at Westminster Magistrates Court said the extradition order was approved Monday, and now goes to Home Secretary Theresa May for final approval.

Former Silicon Valley hedge fund manager gets 12 years in prison for fraud

He also faces a civil lawsuit by the U.S. Securities and Exchange Commission.

JPMorgan Chase gets double slap from regulators

Federal regulators unleashed a rare double slap on JPMorgan Chase & Co. Monday with a pair of enforcement actions.

Brodsky & Smith announces investigation of Duff & Phelps

Duff & Phelps shareholders will receive only $15.55 in cash for each Duff & Phelps stock they own

Raymond James Wrongful Discharge Case Is A Minefield For Stockbroker

The FINRA Arbitration Panel dismissed Claimant Pavlovich’s claims.

Canadian version of Libor has ‘potential for manipulation’: IIROC

Canada’s investment industry self-regulatory organization has found that the process for setting Cdor, the Canadian version of Libor, is murky, complex and could be manipulated, but stopped short of making concrete recommendations on how to fix it.

The FATCA Model 2 Intergovernmental Agreement

The Model 2 IGA calls for direct foreign financial institution (FFI) reporting to the IRS but with aggregate disclosure of "recalcitrant" account holder data, subject to exchange of information requests by the IRS.

Former Hedge-Fund Consultant Avoids Prison Time After Aiding Insider Probe

A former hedge-fund consultant who worked for an SAC Capital Advisors affiliate avoided prison Wednesday, after prosecutors said he cooperated and "contributed substantially" in the U.S. government's crackdown on insider trading.

UBS Client Pleads Guilty in U.S. Tax Case in Florida

Mary Estelle Curran, 79, admitted yesterday in federal court in West Palm Beach, Florida, to two counts of filing false tax returns.

HSBC N.J. Client Admits Conspiracy in Offshore Tax Case

HSBC’s Geneva-based private bank is one of at least 11 Swiss firms under investigation by U.S. prosecutors investigating offshore tax evasion.

Legal, Regulation & Compliance