Managers of Wealth Americas

Ex-Bank of America executive indicted in bid-rigging scheme

The scheme involved bidding for contracts for the investment of municipal bond proceeds and other municipal finance contracts.

Wall Street Is Too Big to Regulate

Simons was skeptical of enormity.

Insider trading turncoat spared prison as reward for testimony against hedge fund, Goldman Sachs

Kumar pleaded guilty in 2010 to securities fraud and faced up to 25 years in prison, but U.S. Circuit Court Judge Denny Chin credited his cooperation in refusing to mete out any prison time.

Global Investment Management Industry Continues To Face A Regulatory Avalanche Of Disparate Rules: KPMG Report

Observers, however, are beginning to see some consistency regarding the implementation of new regulations across the globe, with the U.S. and Europe setting the bar and Asia catching up.

In the JPMorgan scandal, a rush to hire lawyers

Kristin Lemkau, a JPMorgan spokeswoman, said that Goldman asked to leave the company and that during his tenure he "behaved with integrity and we wish him well."

Swiss Regulator Questions UBS Ability To Comply With Dodd-Frank

The Swiss Financial Market Supervisory Authority said it has “serious doubts” about the extraterritorial effects of registration required under the Dodd-Frank Act in a letter dated July 5 and received by the CFTC on July 16.

Wife of Convicted Ex-Credit Suisse Broker Seeks Assets

Elizabeth Butler objected today to a recommendation that the proceeds of joint accounts go to the government to satisfy a $5 million fine and $250,000 forfeiture order.

HSBC faces £640m fine for allegedly allowing drug gangs launder millions

A top executive at the bank sensationally quit yesterday in front of a US Senate hearing that exposed the scale of the scandal.

California court fines Gordon Driver and Axcess USD41m for commodity pool Ponzi scheme

Axcess Fund is registered with the CFTC as a commodity pool operator, and Driver is registered as an associated person of Axcess Fund.

Thousands Of Small Banks Could Sue Wall Street Giants Over LIBOR

The Community Bank & Trust of Sheboygan -- a town on the shores of Lake Michigan about 60 miles north of Milwaukee -- is claiming manipulation of the benchmark London interbank offered rate, commonly known as Libor, has kept its interest margins artif

HSBC faces probe on money laundering claims

The multiyear probe into HSBC by the Senate permanent subcommittee on investigations is expected to reveal activities similar to those that led Wachovia Bank to reach a $160m agreement with the Department of Justice in 2010 to settle allegations that it l

German bank under fire in Florida and at home

Deutsche Bank was a heavyweight financial player during the American mortgage meltdown and its aftermath: empty and neglected properties that blight local neighborhoods.

JPMorgan Claim of Possible Trader Intent May Help U.S., Bank

The U.S. Department of Justice and the Federal Bureau of Investigation in New York in May began a probe of the bank’s trading losses, a person familiar with the matter said.

CFTC’s Division of Swap Dealer and Intermediary Oversight Issues Time-Limited No-Action Relief

On February 9, 2012, the CFTC issued a final rule regarding changes to Part 4 of the Commission’s regulations involving registration and compliance obligations for CPOs and CTAs.

UBS in line of fire over Libor moves

The US Justice Department, meanwhile, has identified potential criminal wrongdoing by big banks and individuals at the centre of the scandal.

German State buys Swiss bank data to track tax evaders

Swiss bank accounts are often used by tax evaders.

Libor scandal ripples across the Atlantic

Both have been called to testify before the Senate Banking Committee on the scandal surrounding Libor, a measure of the cost of money that is used as the basis for more than £200 trillion in loans.

Diamond to be grilled by US politicians

UK newspaper the Guardian says it has been told by sources that Diamond is likely to be called to Washington to answer questions about the Libor-fixing scandal.

Dodd-Frank sees rise in virtual family offices

Those were among the findings reported by the Advanced Planning and Family Office Practice Group at US law firm Handler Thayer LLP in their 2012 outlook.

US banking giant to apologise over lax money laundering controls

In the note sent to employees on Tuesday, the London-based lender's chief executive Stuart Gulliver said the Permanent Subcommittee on Investigations would expose weaknesses in the bank's money laundering controls.

Legal, Regulation & Compliance