Managers of Wealth Americas

U.S. Alongside China in Roll Call of Basel Bank-Rule Laggards

The group also called today for regulators to “keep up their efforts” to ensure that they meet a January 2013 deadline to adopt further requirements, known as Basel III.

Merrill Lynch Can't Stop Class of Black Bankers

A class of Merrill Lynch financial advisers who claim the firm denied them pay and promotions because they are black won another legal victory when the 7th Circuit declined to review its earlier order to certify the class.

SEC hits Pentagon with biggest fine on foreign group‎

The hedge fund of a Conservative Party donor has been fined $98 million for market abuse.

Merrill advisers win round in court

The class could include up to 700 advisers and trainees who worked at the firm since 2001.

Genworth Closes the Sale of Its Tax and Accounting Advisor Unit to Cetera Financial Group

Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, financial protection coverages, and independent advi

BofA’s Merrill Sued by Dexia Over Mortgage Securities

Dexia said in its suit that Merrill Lynch made similar misrepresentations concerning the securities the Belgian bank invested in.

SEC Registration Captures More Hedge Fund Advisers

That is about a 70 percent increase from the 750 advisers the agency said as recently as July that it expected to register.

Wells Fargo faces investors' class-action suit

The lawsuit, filed in 2010 by the City of Farmington Hills Employees Retirement System, a Michigan pension fund, on behalf of more than 100 other institutional investors, claimed breach of fiduciary duty and fraud. The investors sought to be allowed to pu

Six partners quit Dewey for NY's Sutherland Asbill & Brennan

Mace led Dewey’s Lloyd’s of London and Lloyd’s Market practices while at the US firm.

Gibson Dunn Nominated for Six Chambers USA Awards for Excellence

Gibson, Dunn & Crutcher has announced that the firm was nominated by Chambers and Partners for its USA Awards for Excellence in six categories.

Kai Herbert Sues JPMorgan Chase Over $3 Million Typo

The contract that Herbert agreed to said he would be paid 24 million rand or $3.1 million, but JPMorgan officials said they meant to put a decimal point between the two and the four, making his actual pay 2.4 million rand.

Lehman Brothers broker avoids prison time after NY cooperation aids prosecution of 4 others

U.S. District Judge William Pauley cited the extraordinary cooperation by 38-year-old Matthew Devlin when he said prison time was unnecessary and placed him on probation for three years.

Feds say Wells Fargo won't turn over documents

The Securities and Exchange Commission said in a statement Friday that Wells Fargo agreed to produce the documents under subpoenas dating to September of 2011, but the bank has failed to hand over much of the requested material.

Leading offshore law firm advises WNS on NY Stock Exchange Offering

WNS is a leading global business process outsourcing company incorporated in Jersey, with its principal executive office located in India.

Baker & McKenzie pulls plug on San Diego base

Baker & McKenzie is to close its San Diego office at the end of the month with all fee-earners and staff losing their jobs.

Deutsche Avoids Dodd-Frank Rule

Deutsche Bank AG changed the legal structure of its huge U.S. subsidiary to shield it from new regulations that would have required the German bank to pump new capital into the U.S. arm.

How Facebook Billionaires Dodge Mega-Millions In Taxes

Moreover, Securities & Exchange Commission filings show Levchin still has 3.9 million shares of Yelp, now trading near $22, in his Roth. So it appears his tax-free “retirement” kitty is worth at least $95 million—and maybe a lot more

Top US bank wins dismissal of Ponzi scheme accusations

The 9th U.S. Circuit Court of Appeals said on Tuesday that investors who bought fraudulent certificates of deposit from Millennium did not pursue all remedies with the Federal Deposit Insurance Corporation (FDIC) as required by federal law or show that JP

Risks are increasing in quantity and severity - PwC

While concerns about further economic uncertainty continue to be top of mind for business leaders, issues such as fraud and ethics, mergers and acquisitions, large programs, new product introductions, and business continuity were identified among the top

Vatican Bank Image Hurt as JP Morgan Closes Account

The move is a blow to the Vatican's drive to have its bank included in Europe's "white list" of states that comply with international standards against tax fraud and money-laundering.

Legal, Regulation & Compliance