Managers of Wealth Americas

Money laundering: US applies to seize US$1 million from Cayman company

The Turks and Caicos police determined that since 2006, $100 million had been transferred by Company-2 and Maydaisy to the foreign exchange dealer, Company-1.

Launching our new resources on financial crime risks in the art market

Regulators in Europe have already taken notice

Top US Treasury official urges UAE bankers over vital 'open communication' on illicit activities

"Participants shared their views about the banking sector's role in the global economic recovery, risks facing the financial sector in the region, and cybersecurity.

Commitments fulfilled: The USA terminates the deferred prosecution agreement with the bank

The responsible US court in New York has approved this application.

USA terminates ZKB’s deferred prosecution agreement

The agreement started in 2018, following a seven-year tax dispute.

US Financial Regulators Release Much-Anticipated Report on Stablecoins

The Report signals the Biden administration’s concerns about the rapidly developing digital asset markets and their lack of appropriate federal regulation.

DLA Piper launches global, dedicated end-to-end Investment Management and Funds practice

DLA Piper has one of the largest investment management and investment funds practices in the world, with more than 250 lawyers with relevant experience and offices in all key global jurisdictions.

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.

Legal, Regulation & Compliance