Managers of Wealth Americas

SEC Proposes Rules on Insider Trading, Rule 10b5-1 and Share Repurchases

Notably, these proposals only have a 45-day comment period, which is shorter than the more customary 60- or 90-day comment periods.

Goldman Sachs Will Require U.S. Employees to Get Booster Shots

Goldman's new policies, communicated to staff on Monday, follow a week of rising COVID infections across the United States.

Goldman Sachs will require U.S. employees to get booster shots

Goldman was among the Wall Street banks that have pushed hardest to bring staff back into offices.

Trends in Delaware Litigation that will have an Impact in 2022 and Beyond

Delaware Supreme Court establishes a streamlined demand futility test in derivative cases For years, the Delaware Courts used two different tests to analyze demand futility.

Investors get preliminary approval for $60M settlement over alleged JPMorgan 'spoofing'

If approved, the deal would build on a $920M settlement with the federal government over the investment bank's use of an outlawed trading practice.

Brazil central bank puts brakes on tougher rules for fintechs, sources say

It is unclear why the central bank chose to delay the passing of the regulatory changes but it has left a multi-billion-dollar sector on tenterhooks.

Merrill Fined $950K After Flawed Supervision Allowed Two Brokers to Steal $6M

Although the industry’s self-regulator in 2013 had warned Merrill about problems with its monitoring of customer fund transfers

Ex-Merrill FA Who Sought $7M in Damages Ordered to Pay the Firm $1.4M

Palombo requested $2 million in compensatory damages, $5 million in punitive damages and lawyers’ fees and costs, as well as the nullification of the CTP agreement, according to the award document.

SEC demands US$52.9 million from ex-Vancouver lawyer Fred Sharp after default

U.S. authorities have yet to locate the former lawyer connected to the Panama Papers offshore shell and tax haven leak

Top UK court partly rules in favour of Guaido in Venezuela gold case

The court said a decision last year by the English Court of Appeal to overturn an earlier High Court ruling was "misplaced" as the British government's recognition of Guaido as Venezuela's interim president was "clear and unequivo

SEC charges Russians in $80m hacking and trading scheme

The U.S. Attorney’s Office for the District of Massachusetts today announced criminal charges against the five defendants named in the SEC’s action and that defendant Vladislav Kliushin was extradited from Switzerland.

10b5-1 trading plans and share repurchases in the spotlight

The same day, the SEC also proposed requiring issuers to make next-day disclosures of any repurchases they make of their equity securities.

SEC Sets the Table for Stricter Rule 1085-1 Insider Trading Plans and Enhanced Disclosures for Company Repurchases

The public will have an opportunity to submit comments within 45 days after the proposed stock repurchase disclosure rules are published in the Federal Register.

JPMorgan Admits to Widespread Recordkeeping Failures and Agrees to Pay $125 Million Penalty to Resolve SEC Charges

Firm also agrees to implement significant improvements to its compliance controls

JPMorgan Chase Fined $200 Million For Communicating With Customers Via WhatsApp And Private Devices

These actions are a violation of federal law, which requires all financial institutions to keep records of customer communications so that regulators can check whether companies are violating anti-fraud or antitrust laws.

New AML regulations governing antiquities trade are on the way

These regulations will represent a sea change in law enforcement’s efforts to shed light on an otherwise opaque market.

FinCEN Issues Proposed Rules Requiring Certain US and Non-US Legal Entities to Report Beneficial Ownership Information

The registration and disclosure requirements may be particularly relevant to banks and investment fund structures that establish legal entities in connection with financings and corporate acquisitions.

Fed urges big banks to heed risk assessment following Archegos

US central bank’s review into the collapse of the hedge fudge could lead to further action, Fed warns

Son of Panama ex-president pleads guilty to money laundering

The company pleaded guilty in 2016 to conspiracy to violate anti-bribery provisions of the U.S. Foreign Corrupt Practices Act.

HSBC and Wells Fargo achieve PvP settlement finality with DLT

As part of the implementation for settlement in US dollar, Canadian dollar, GBP and euro transaction, both banks have agreed to the Baton Rulebook, a framework designed to provide legal certainty around settlement finality.

Legal, Regulation & Compliance