Managers of Wealth Americas

UBS whistleblower awarded $104m

US tax authorities have awarded $104m (£65m) to Bradley Birkenfeld, the whistleblower in a major tax evasion case against UBS, the Swiss bank.

US files suit against UBS Securities

US regulators have filed a lawsuit against Swiss banking giant UBS, accusing it of misrepresenting the risk associated with mortgage-backed securities it sold to two federal credit unions.

U.S. Bars Ex-Credit Suisse Banker From Leaving

“Permitting the defendant to travel to his country of origin or residence would be an invitation to flee”

Bank of America Heist: Calif. bank manager kidnapped, strapped to bomb and used in robbery, police say

The bank manager told authorities she was held against her will since Tuesday night.

JPMorgan Said to Face Escalating Senate Probe of CIO Loss

The unit’s London staff lost at least $5.8 billion this year on the botched wagers, which were large enough to shift markets.

General Solicitations Permitted in Private Placement Offerings - SEC Proposes New Rules

The Proposed Rules, which are not yet final, would have the effect of increasing the flexibility for issuers, including hedge and other alternative investment funds, to solicit purchasers through general solicitation, but would also impose a more signific

SEC, CFTC charge manager who boasted success amid Madoff loss

"Reality seems to have finally caught up with him."

Herbert Smith takes on 15 further Chadbourne lawyers for US launch

The firm is still looking to recruit further fee earners for the anti-corruption and cross-border investigations piece of the practice, with a view to completing this by the end of the year.

Blow to RBS shareholders as US judge dismisses case

Royal Bank of Scotland shareholders who are threatening a £3.3bn lawsuit against the lender and its former directors have been dealt a blow after a US court dismissed similar allegations that the bank misled investors.

SocGen cooperating with U.S. in Libor probe

Oudea said he had not heard from French prosecutors about the case and declined to comment on developments in Switzerland, where authorities are also probing banks.

Libor probe claims Barclays executive and a trader

At least four former Barclays traders who worked under Pal in New York have drawn scrutiny from U.S. prosecutors and regulators in the investigation into the manipulation of the London interbank offered rate and related benchmark interest rates, according

Foreign banks in Iran face risk of US penalties

The drama played out last month between Standard Chartered and the New York state supervisor who threatened to strip the august British institution of its vital Wall Street banking licence was not entirely typical.

SEC Charges California Man for Illegal Tips to Hedge Fund Manager

The Securities and Exchange Commission today charged a California man with illegally tipping a hedge fund manager with inside information about Nvidia Corporation's quarterly earnings that he learned from his friend who worked at the company.

US Gift Tax - Overview

After December 31, 2012, unless Congress enacts new legislation, this opportunity will vanish and will be replaced by a $1 million exemption and a 55 percent federal transfer tax rate.

Tax agreements key to the future - confidence despite a difficult environment - SBA

Although the current situation for banks is characterised by falling margins, a large number of regulatory projects and constant pressure from abroad, Switzerland can continue to be a leading financial centre.

Ex-Dewey partner claims Citibank conspired to lure laterals

A former Dewey & LeBoeuf partner has filed a lawsuit claiming Citibank colluded with the now-defunct US firm to entice lateral hires in the run-up to the firm’s high-profile collapse this year.

Ex-UBS executives found guilty of fraud

While employed at UBS, the three men participated in separate fraud conspiracies and schemes with various financial institutions between 2001 and 2006, the United States Department of Justice said.

Mitt Romney buy-out firm said to be probed by New York attorney general

The agency claims to investigate “firms that rip-off government pension funds, contractors that over-bill taxpayers, and large-scale tax cheats”.

Wells Fargo Fires Employee Who Committed 10-Cent Fraud in 1963

A teenage prank has cost a customer service rep his job, thanks to new Federal regulations.

SEC weighs ending ban on hedge fund advertising

Securities regulations have barred hedge funds and other private investment vehicles from advertising and marketing to the general public for more than 30 years.

Legal, Regulation & Compliance