Managers of Wealth Americas

Monzo moves out of beta in the US

Monzo, which has around five million customers in its home market of the UK, has long planned to enter the American market.

Citi whistle blower wants share of US$400 million penalty

Blowing the whistle on corporate misdeeds has become lucrative in recent years, with government watchdogs routinely awarding informants millions of dollars for their help with cases.

Peltz wins Janus board seats, gives up position at Invesco

Peltz and Trian CIO Ed Garden have now joined Janus’s board.

Central Bankers - Tigers Still with no Teeth

Last week, the markets saw the Fed meeting as hawkish, but what did investors expect?

Much-Anticipated Federal Reserve Report Signals That a CBDC Is a Long Way Off

The Report requests comments on a series of questions to help the Federal Reserve improve its understanding of the potential benefits and risks of a CBDC.

UK Home Purchases for US Individuals

The examples below highlight why US persons should always take US tax advice before buying property in the UK.

Ex-Merrill FA Barred Over Alleged Misuse of Client Funds

Finra alleges that in May 2020, Nicholas “induced” the customers in question to enter into a promissory note with an entity where he was the sole owner

Former UBS investment adviser charged with stealing $5.8m from client

The SEC’s complaint, filed in the U.S. District Court for the Southern District of Florida, charges Nino with violations of the antifraud provisions of the federal securities laws

US Corporate Transparency Act proposed regulations published

A reporting company must file a corrected report within 14 calendar days of such reporting company becoming aware or having reason to know of the inaccuracy.

Banks back plan to share SARs with foreign units. For now.

Under current law, such units are treated the same as foreign banks and are ineligible for sharing.

US regulators must provide more clarity on crypto rules, says BNY Mellon CFO

Portney's comments highlight growing frustration among banking industry executives as U.S. President Joe Biden's regulators have taken a cautious approach to digital assets.

Central Banks, Not Covid, Will Drive Global Economies in 2022

From 2023 onward, most agree, growth will return to its long-term norm of around 3.5%, as if Covid never happened.

Theorem Fund Services selects Mourant

Theorem Fund Services, LLC announces its hedge fund clients will now have access to a full suite of Cayman services via a first-of-its-kind strategic collaboration with Mourant and its affiliate, Mourant Governance Services.

Harneys advises on US$130 million secured term loan financing for Adium Ltd

The Harneys team was led by Partner Josh Mangeot, with support from Associate Ed Lacey. Mitrani, Caballero & Ruiz Moreno acted as instructing law firm.

Top North American banks form consortium to address climate risks

The Consortium will advance practices for member banks and the broader industry by assessing current efforts and developing consistent taxonomy, frameworks, and standards for climate risk management.

Being on top of Ultimate Beneficial Ownership Compliance

While for lawmakers it is still a field for further discussion, companies in different jurisdictions are required to be compliant with the UBO laws already set out.

FinCEN Seeks Guidance on Applying Corporate Transparency Act Reporting Obligations to Trusts and Estates

In response, FinCEN recently released proposed regulations governing the CTA and has requested comments on how to apply the proposed regulations to certain kinds of trusts.

SEC Issues Awards Totaling More Than $4 Million to Whistleblowers

"These awards highlight the importance of the SEC’s whistleblower program to the agency’s enforcement efforts and to its ability to maximize staff resources."

US and Malta agree joint crackdown on pension plan abuse

This came to light after both authorities found that US taxpayers with no connection to Malta were misconstruing the pension provisions of the Treaty to avoid income tax on the earnings of, and distributions from, personal retirement schemes established i

Delaware Chancery Court Allows SPAC Merger Challenge to Proceed

The Court analogized the alleged interference with the SPAC shareholders’ redemption rights to the shareholders’ right to vote.

Legal, Regulation & Compliance