Managers of Wealth Americas

UBS Exposes Its Frivolous Briefs In $21 Million FINRA Customer Arbitration

Claimants sought $7,000,000.00 in compensatory damages, $14,000,000 in punitive damages, interest, attorneys’ fees; costs; and expenses.

JPMorgan has $2 billion trading loss, reputation hit

JPMorgan Chase, the largest bank in the United States, said yesterday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.

Legislation would cut taxes for companies that move jobs to US

The bill, introduced by Congressman Bill Pascrell, D-N.J., and Sen. Debbie Stabenow, D-Mich., would provide a 20 percent tax credit to U.S. companies that bring jobs and business operations back to America, while ending tax breaks for companies that send

Florida foreclosure case could slam banks

The court is deciding whether banks who used fraudulent documents to file foreclosure lawsuits can dismiss the cases and refile them later with different paperwork.

Internal Emails From Lehman Execs: "The Bros Always Wins!!"

William Cohan at Bloomberg found one exchange between Fuld and David Goldfarb, the bank's CFO, concerning a possible injection of capital by Chinese investment bank Citic Group, capital the bank desperately needed.

Goldman CEO cited by NY lawyers in wiretap flap

Attorneys for a former Goldman Sachs board member accused of insider trading say recent testimony by Goldman's chief executive supports their bid to eliminate the only wiretap recording of their client that relates to claims that he shared secrets wi

Madoff Sons’ Wives Sued by Trustee for $57.5 Million

The trustee liquidating Bernard L. Madoff Investment Securities Inc. revised a lawsuit to add the spouses of Bernard Madoff’s two sons as defendants on $57.5 million in claims.

Proskauer Expands Real Estate Capital Markets Capabilities

Proskauer has expanded its Real Estate Capital Markets Group with the addition of Leslie H. Loffman as a Tax Partner in the firm's New York office.

Dominique Strauss-Kahn could face gang rape charges after US hotel orgy

Dominique Strauss-Kahn could face gang rape charges after an escort girl said the former International Monetary Fund chief and three others held her down and forced her to have anal sex.

Puerto Rico Is No Paradise for UBS Customers

When Congress passed the Investment Company Act of 1940 to prevent abuses of mutual-fund shareholders, it exempted Puerto Rico.

Swiss bank Pictet gave data to U.S. in tax probe

Pictet said in a statement the data handover took place in November 2010 via the Swiss tax office, which had received a request for assistance from its U.S. counterparts.

Vernon Healy Files Another $800,000 in Claims Against UBS

The promised principal protection constituted a gross deception because the Lehman notes represented nothing more than unsecured loans by the investors to a financially faltering Lehman, according to the claims.

HSBC Bank USA is suspected of giving free rein to money launderers

The extent of that failure is laid out in confidential documents reviewed by Reuters that originate from investigations of HSBC's U.S. operations by two U.S. Attorneys' offices.

RBC to Pay Massachusetts Up to $3.2 Million in ETF Claims

Finra warned brokers in June 2009 that leveraged and inverse ETFs were difficult to understand and not a good fit for long- term investors.

HSBC’s Swiss Wealth Unit May Face ‘Significant’ U.S. Fine

HSBC Holdings Plc’s Swiss private bank said fines and penalties relating to a tax-evasion probe by the U.S.as it published figures showing clients outflows in the second half of last year.

Morgan Stanley sued by asset management fund over securities

Allegations against the bank include fraud, fraudulent inducement and negligent misrepresentation over the sale of the securities, according to documents filed in New York State Supreme Court yesterday.

Goodwin Procter expands private equity practice

Nissan and Nugent have represented clients across a broad spectrum of sectors, including the manufacturing; entertainment; Internet; technology and software; consulting; and product distribution industries.

Law firm Dewey & LeBoeuf loses seven more partners

Dewey removed the partners' names from its website between Friday and Monday.

Bank of America directors fight back over $20 million settlement

The accord would resolve a New York lawsuit claiming the bank's board, including former Chief Executive Officer Kenneth Lewis, had hidden how Merrill was headed toward an eventual $15.84 billion quarterly loss, even as it was paying $3.6 billion of b

HSBC’s Geneva Bank Gave Employee Names to U.S., Le Temps Reports

The firm notified staff and created a telephone hotline for client advisers to check whether they are on the list, the Swiss newspaper said.

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