Managers of Wealth Americas

Cayman Law Society opposes payroll tax

Those two industries generate the vast majority of our economic activity.

UBS Whistle-Blower Released From U.S. Prison

He began serving a 40-month sentence in January 2010 at Schuylkill Federal Correctional Institution, and received good-time credit that reduced his term, said his attorney, Stephen M. Kohn. His brother, Douglas, drove him to a halfway house i

Ex-Morgan Stanley Risk Officer Sues Bank for reporting securities “flipping” by one of the firm’s wealth managers

A former risk officer for Morgan Stanley (MS) (MS) Smith Barney LLC sued the firm over claims he was unfairly fired for reporting securities “flipping” by one of the firm’s wealth managers.

US cancels reverse FACTA laws for non-residents

The move has stirred considerable opposition in Washington and from wealthy non-residents living in the US – and lawmakers buckled under the pressure in the fear that bringing in the rule would see a massive outflow of foreign investment.

Fatca deadline looms for international banks

The tales of how difficult the bank found it to recover account files from branches around Mexico when law enforcement agencies requested them, and the details of minimal documentation on thousands of accounts opened in a virtual branch in the Cayman Isla

Ex-UBS bankers cheated cities by rigging bond bids -U.S.

The probe has focused on rooting out schemes to fix prices and rig bids on bond transactions, and has ensnared some of the world's largest banks.

U.S. probe into Chinese client deals fresh challenge to Deloitte

The Securities and Exchange Commission (SEC) is investigating New Oriental Education & Technology Group Inc for possible accounting irregularities, the Beijing-based firm said on July 17.

Hedge Fund Portfolio Manager Sentenced to 78 Months for Operating a Multi-Million-Dollar Ponzi Scheme

A hedge fund manager has been sentenced in Brooklyn federal court to serve 78 months in prison for running a Ponzi scheme.

FATCA IGA announcements - Full-fat FATCA still applies for most global firms

For many asset managers the EU5 territories represents a relatively small proportion of their business.

Ex-UBS Executives Go to Trial in Bond Bid-Rigging Case

The trial, in front of U.S. District Judge Kimba Wood in Manhattan, is the result of a nationwide probe of bid-rigging involving banks and brokers including CDR Financial Products Inc.

Berkshire Bank Sues Barclays, Citigroup Over Alleged Libor Fraud

The lender claims in the suit that Libor fraud lowered interest payments it received.

New York Fed did not condone misreporting of Libor: Geithner

Geithner, Fed Chairman Ben Bernanke and U.K. banking authorities have come under fire for not doing enough to fix problems with Libor, a rate which is used for $550 trillion of interest rate derivatives contracts and influences rates on a wide array of co

G5 FATCA agreement strengthens UK ability to tackle tax evasion

This is a key step towards delivering on the commitment to an intergovernmental approach to implementing the US Foreign Account Tax Compliance Act (FATCA) made by the same countries in their joint statement published on 8 February 2012.

Fidelity Joins BlackRock in Weighing Libor Action Against Banks

Global regulators are reviewing the rate-setting mechanism and contemplating criminal charges against bank traders who manipulated Libor

Systemic Risk Research Consortium Launched to Address Risk in the Financial Markets

The consortium has attracted interest from an array of academic, industry and regulatory researchers and two conferences have been held at which institutional investors, academics and industry experts presented new research and discussed how to better qua

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