Managers of Wealth Americas

Bank of America’s Merrill Lynch to Ban Trainee Brokers From Making Cold Calls

In shift for program that dates back to 1945, recruits will now be directed to use internal referrals and LinkedIn messages to prospect for new clients

Credit Suisse Faces Class Action Lawsuit in the U.S.

In April, the City of St. Clair Shores Police & Fire Retirement System filed a class action lawsuit against the bank in a Manhattan-based federal court for allegedly misleading investors and mismanaging exposure to high risk clients.

Latin American Investor Files Six-Figure Northstar (Bermuda) Fraud Claim Against Truist Investment Services

The claimant invested mostly in bank products and checking and savings accounts with SunTrust.

CORRECTING and REPLACING Wells Fargo to Liquidate Central Fidelity Capital Trust I and Wachovia Capital Trust II Resulting in the Cancellation of Capital Securities and Distribution of Underlying Debentures to Holders

The following table sets forth information concerning the Capital Securities that will be canceled, and the corresponding Debentures that will be exchanged for those Capital Securities, on the Liquidation Date.

IQ-EQ receives regulatory approval to acquire Concord Trust Company

This strategic transaction is the first for IQ-EQ in the U.S. Private Wealth trust space, and a signifier of IQ-EQ’s future intent within the U.S. Private Wealth market.

Global life insurer admits it helped US citizens hide $1.45bn

Swiss Life Holding AG, Swiss Life (Liechtenstein) AG, Swiss Life (Singapore) Pte. Ltd., and Swiss Life (Luxembourg) S.A. Enter into Deferred Prosecution Agreement for Criminal Misconduct; Agree to Collectively Pay More than $77 Million

Broadridge Announces Closing of $1.0 Billion Senior Notes Offering

Broadridge intends to use the net proceeds of this offering to repay a portion of the outstanding indebtedness under its Term Credit Agreement and for general corporate purposes.

Carey Olsen advises Genius Sports on New York Stock Exchange listing

The Carey Olsen team advising Genius Sports on the Guernsey legal and regulatory aspects of its NYSE listing comprised Christopher Anderson, Rachel de la Haye, John Scanlan, Alexandra Hehir and Nickie Pickernell.

Rogue branch lawsuit prompts Morgans payout offer

The settlement offer, revealed by The Australian Financial Review, follows Morgans’ own internal investigations having raised alarms about the branch.

Road to Recover Class Action Proceeds Grows More Complex for Investors, Broadridge 2021 Global Class Action Annual Report Highlights

The Broadridge Global Class Action Annual Report offers an in-depth analysis of the 10 most complex class action recovery opportunities from 2020 involving financial instruments.

Ogier in Guernsey assists Schiehallion with US$700 million secondary fundraise

Guernsey has a strong stable of listed funds and the secondaries market in Guernsey has been increasingly active this year.

US Federal Reserve Proposes Guidelines for Access to FRB Services for Non-Traditional Federal and State Charters

The comment period for the Proposed Guidelines will run until July 12, 2021.

Latham & Watkins Advises Goldman Sachs and Owl Rock in US$275 Million Financing for Quva Pharma

Interdisciplinary team advised on the financing for the 503B outsourcing services company to healthcare facilities.

“Enough is Enough”

The phrase is not yet the operative phrase for fiscal policy in the current recovery

Carey Olsen advises Nuvemshop on funding round to drive LatAm expansion

The Carey Olsen team advising Nuvemshop on the Cayman law aspects of the funding round was led by corporate partner Alistair Russell, assisted by associate Emily Cornhill.

Carey Olsen advises TriSpan on latest mid-market fund launch

It will typically seek majority investments in proprietary buy and build opportunities alongside strong founders and management teams with a focus on multi-unit health care, business services or specialty manufacturing with limited use of leverage.

New York Department of Financial Services Issues Proposed Guidance on Managing the Financial Risks from Climate Change

On March 25, 2021, the NYDFS released for public comment proposed guidance for New York domestic insurers relating to managing the financial risks from climate change.

Clyde & Co continues US expansion with opening of three new offices in the Southwest

The opening of the offices continues Clyde & Co’s long term strategy to create a truly national US insurance practice

Finding John Doe, Part II: IRS Secures Another Victory to "Root Out" Virtual Currency Tax Noncompliance

The court’s order approving the summons significantly reinforces the strength of the IRS’ crypto pursuit.

MPs urged to demand the names of Canadians behind offshore tax shelters

Finance committee is re-starting probe into shell companies that was shut down five years ago

Legal, Regulation & Compliance