Managers of Wealth Americas

UBS Sues Billionaire Olenicoff for Filing Failed Tax Suit

Olenicoff, who built his fortune as the chief executive officer of Newport Beach, California-based Olen Properties Corp., pleaded guilty in 2007 to filing a false tax return.

Apologetic Swiss banks sweat it out as US, Europe mull redress

Washington, however, must factor forthcoming elections into its thinking, and Germany is delaying ratification of a tax deal key to Switzerland's efforts to strike similar agreements elsewhere in Europe.

N.Y. Regulator Scrutiny Extends From Banks to Carnival Games

The event attracts local luminaries such as musician Paul Simon and hedge- fund managers and their families from nearby Greenwich.

Porsche fails to halt US hedge fund lawsuit

Porsche SE, a holding company, whose carmaking business in now owned by Volkswagen, said late on Wednesday it continued to believe the damage claims were without factual and legal merit, adding it would appeal against the decision.

UBS denies report it abets German tax evasion

The bank doesn't provide tax services to clients, UBS spokesman Dominique Gerster told Dow Jones Newswires.

Former Barclays trader "has cooperated" with Libor probe

The hedge fund, WCG Management, sent an email to its investors on Sunday informing them that the $3.4 billion fund is not under investigation in the Libor probe, but confirmed that portfolio manager Ryan Reich has drawn scrutiny from U.S. prosecutors.

JPMorgan Sued by Israel’s second-biggest bank

Jennifer Zuccarelli, a spokeswoman for JPMorgan, didn’t immediately respond to an e-mail seeking comment on the suit.

Drafts of FATCA Model Intergovernmental Agreements Released

The US, UK, France, Germany, Italy, and Spain have jointly issued drafts of two versions of model agreements implementing FATCA through a process of intergovernmental information exchange (the “Model Agreements”).

Star money manager Perez-Coutts says AGF defection allegations ‘offensive’

Patricia Perez-Coutts said in a statement Thursday that she and her new employer, Westwood Management Corp., will fight the allegations of breach of contract in court.

CISI and FINRA announce cooperation on exams and membership

The FINRA/CISI MoU will ensure that relevant FINRA members holding the Series 7 – General Securities Representative Examination -- will be able to maintain or achieve authorisation as Retail Investment Advisers in Securities and/or Derivatives from

Swiss banks face slow death as taxman chases undeclared assets

#Western Europeans may pull as much as $139 billion, or 15 percent of their holdings, from Swiss banks, said Herbert Hensle of Cap Gemini. Bank Sarasin & Cie. AG reported last week that private clients withdrew 3 billion francs from Swiss locations in

UBS staff 'offered protection from prosecution in Libor probe'

US prosecutors have offered several former junior UBS employees protection from criminal charges in exchange for their cooperation with their expanding probe into alleged Libor manipulation, according to reports.

Private Equity Chief Outran Bank Before Death, Suit Says

The bank also said he may have lied on credit agreements when he portrayed $33 million in real estate and $65 million of antiques and artwork as his property alone.

N.J. officials charge Jersey City hedge fund, executives with fraud

Among those charged were the firm’s chairman, Peter Zuck, 62, of Middletown, whom the state said also was a three-time convicted criminal.

Standard Chartered US claims puts auditors back in dock

Auditor Deloitte has rejected claims it helped Standard Chartered hide $250bn (£161bn) of illegal Iranian transactions in the latest scandal to embroil the industry.

Standard Chartered rejects Iranian 'scheming' claims: statement in full

Standard Chartered has firmly rejected claims that it “schemed” with Iran to conduct secret transactions worth $250bn (£160bn). Here is its statement in full.

Ex-UBS Executive Told Colleague to Forget Rigged Deal

Heinz and Welty are charged along with Peter Ghavami, the former head of UBS’s municipal-derivatives group, with conspiracy to defraud municipal-bond issuers and U.S. tax authorities by fixing the prices on the investing agreements.

Witness For Whitman Prosecution Tells Of Her Hedge Fund Insider Trading Involvement

The insider-trading case against Galleon Group co-founder Raj Rajaratnam was sparked by information from Khan.

Swiss seek U.S. tax deal by year-end, but not at any price

It also wants a deal to shield the remainder of its 300 or so banks from U.S. prosecution.

US Makes New Request to Swiss for Information on Alleged Tax Cheats

A spokesman for the Swiss Federal Tax Administration confirmed that a request for administrative assistance had been made by the fiscal authorities in the U.S. last month.

Legal, Regulation & Compliance