Managers of Wealth Americas

US Federal Trade Commission Adopts Prescriptive Data Security Requirements and Other Updates to Its Gramm-Leach-Bliley Act Safeguards Rule

The Final Rule will take effect one year after its publication in the Federal Register

Wealth Management Update

November 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts

Credit Suisse to Suffer Tougher U.S. Stance?

These deals are struck to settle criminal charges in mutual agreement without a trial.

SEC Commissioner outlines DeFi risk and opportunities

DeFi presents a panoply of opportunities.

New Updates from Corporations Canada

These updates are part of CC’s plan to improve mechanisms for protecting the integrity of federal corporate information.

It's All A Lot Of Fun Until The Music Stops Playing

The Global Aggregate bond Index rose 0.7% on the week; major equity markets gained at least 2%.

Rochester Man Gets Seven Years in Prison for Role in Ponzi Scheme

John Piccarreto was convicted for his role in defrauding approximately 400 investors out of about $18 million, according to the DOJ.

OFAC Reaffirms Focus on Virtual Currency With Updated Sanctions Law Guidance

This update highlights the government’s continued movement toward subjecting the virtual currency industry to the same requirements, scrutiny and consequences in cases of noncompliance as applicable to traditional financial institutions.

U.S. regulators say issuers of 'stablecoins' should be policed like banks

Stablecoins are primarily used to facilitate trading in other cryptocurrencies

DOJ Further Ratchets Up Scrutiny in Corporate Investigations

The intent behind this policy change is to create parity between the way DOJ treats individual and corporate criminal histories.

Clear Rules on Crypto Assets Imminent, says FDIC’s McWilliams

Chair outlines various risks and opportunities for stable coins and other digital assets

FINRA Bars Another Broker Who Improperly Applied for COVID Disaster Loan

Unlike Pinazo, the former J.P. Morgan rep cooperated with FINRA’s investigation.

Ex-Wells Fargo Adviser Arrested in New Jersey on Client-Fraud Charges

“At Wells Fargo we hold our employees to the highest ethical standards,” the bank said in a statement.

Majority of publicly traded U.S. multinational firms use tax havens

Data suggests public scrutiny may influence whether firms disclose offshore subsidiaries

Five European nations, US agree transitional approach to DSTs as regards Pillar One

Pillar One of the solution would reallocate taxing rights in favor of market countries coordinated with the removal of all DSTs.

10 international fraudsters charged in the US

The Defendants Operated Boiler Rooms in Multiple Countries to Defraud Victims Around the World of Millions of Dollars by Impersonating Prominent Investment Firms and Individuals

Nubank file for IPO

This announcement is being issued in accordance with Rule 135 under the Securities Act of 1933, as amended ("Securities Act").

FATF publishes guidance for regulation of cryptocurrency industry

The guidance provides relevant examples and potential solutions to implementation obstacles.

US FSOC Report: Climate-Related Financial Risk an Emerging Threat

The Report details the information currently available with respect to banks, nonbank lenders, government-sponsored enterprises, insurance, and fund and asset managers, but notes that there is limited research and data on how climate risk translates into

The Anti-Money Laundering Act of 2020

Congress also increased penalties for violating the BSA.

Legal, Regulation & Compliance