Managers of Wealth Americas

Investors seeking action from Powell on yields disappointed

Yields on Treasury debt rose after Powell signaled the central bank would make no immediate move to cap the recent increase in yields.

Former Greenbush, Minn.-based bank CEO sentenced for involvement in 'African diamond and gold' scam

Robert John Hager, 71, was sentenced to 18 months in federal prison for abusing his position as the CEO of Border State Bank to buy into a fraudulent "get-rich-quick" scheme.

Outsourcing for banks improves compliance with regulations

Many of these organizations may not realize that there are outsourcing solutions specifically tailored to their regulatory compliance needs.

Citi’s $900 Million Mistake Prompts Banks to Seek New Safeguards

At least four leveraged loan issuers came to market with deals that included “Revlon clawback language” in credit documents in recent weeks.

SEC Examinations Division Issues Risk Alert Regarding Digital Assets

The Division warned that their review of policies, procedures and practices of investment advisers investing client assets in Digital Asset Securities

Delaware Supreme Court Adopts ABRY Partners Framework Permitting Limitations of Liability for Fraud Except for Intentional Fraud

The issue before the Court was whether the trial court had erred by instructing the jury that the state of mind requirement necessary

Huawei Lawyers on HSBC Exec: «Far More Than a Gopher»

U.S. prosecutors claim that Meng misrepresented the Skycom relationship, allegedly making statements that suggested that the firm was sold to an arms-length third party when it was in fact sold to a parent company Huawei controlled.

Prosecutors ordered to give ex-Merrill traders information in spoofing case

U.S. District Judge John Lee on Wednesday rejected prosecutors’ argument that their probe into the manipulative trading tactic was independent from the CFTC’s.

SEC Bars Advisor Imprisoned for $13 Million Ponzi Scheme

Steven Pagartanis was sentenced to more than 14 years in prison for his role in the scheme, according to the Justice Department. FINRA had previously barred the Long Island–based advisor from the industry.

Morgan Stanley Faces $5 Million Claim from NBA Star Chandler Parsons

Parsons, who is listed as the claimant along with related entities as well as his one-time roommate and fellow National Basketball Association player Courtney Lee, alleged that between 2017 and 2019 “payments were made without prior approval”

This Gigantic Biglaw Firm Wants To Get Even Bigger In 2021 And Beyond

This firm is willing to go harder, better, faster, and stronger to build revenue. Is yours?

Wells Fargo Enters Agreement with GTCR and Reverence Capital Partners to Sell Wells Fargo Asset Management

GTCR and Reverence Capital are two respected private equity firms with deep experience investing in the asset management space.

FINRA Bars Former Wells Fargo Broker for Private Securities Transactions

The regulatory agency claimed Scott Wayne Reed failed to get approval from Wells Fargo when soliciting clients to invest in a software company he himself was invested in.

SEC Obtains Final Judgment Against Advisor Who Defrauded Investors of Millions

Last November, James Booth was sentenced to 42 months in prison for conducting a Ponzi-like scheme on investors and was ordered to pay nearly $5 million.

Much Ado About Transparency

Until then, pensions must contend with significant variation with incoming reporting and differences in statutory reporting requirements for their disclosures – differences that potentially create additional burdens on pensions.

JP Morgan issues first non-QM credit risk transfer notes

JPMWM originates prime jumbo loans and offers fixed-rate, adjustable-rate, interest-only mortgages, and Home Equity Line of Credits (HELOCs).

Wells Fargo's Proposal for Overhaul Wins Approval of Fed

In December, the company had said that it still has to work on improving its control systems in order to have the cap lifted.

Proposed Legislation Would Add Biometric Privacy Requirements to New York Law

The proposed legislation, entitled the “Biometric Privacy Act,” would apply to private entities and regulate the collection, storage, retention, and use of biometric information of individual persons and customers.

Mawer Investment Management Ltd. Announces Termination of Mawer Global Bond Fund

Unitholders may redeem or switch their units of the Fund prior to the Termination Date.

J.P. Morgan Chases Another Bank Broker Who Joined LPL

Browne had been working with 323 clients who kept $145 million at JPMorgan, it said.

Legal, Regulation & Compliance