Managers of Wealth Americas

Billionaire Robert Smith to Pay $140 Million Over Tax Probe

Smith to cooperate, admit misconduct but won’t be prosecuted

OFAC Advisory Warns of Civil Penalties for Ransomware Payments

Ransomware has long been a concern for organizations, both in the United States and abroad, having crippled hospitals, municipalities, educational entities and private companies of all industries in recent years.

Use of Jersey and Guernsey Structures by US Managers Targeting European Capital

In the current politically driven regulatory climate, managers/promoters in the major US fund centres are increasingly looking for alternative ways to structure investment vehicles suitable for and acceptable to their European domiciled investor base.

China's central bank to cut FX risk reserve ratio to zero

The move came after the onshore spot yuan rate ended at a 17-month high on Friday against the dollar, its biggest one-day percentage gain since 2005.

OECD drafts principles for $100bn global corporate tax revolution

Technical blueprint would upend taxation of US tech groups but still needs political agreement

Carey Olsen advises Kavak as it becomes Mexico's first unicorn

This is a testament to what the team at Kavak has built and we are excited to see what the future holds.

Citigroup fined $400m over internal controls ‘deficiencies’

Federal regulators order US bank to upgrade processes and technology

14 States that don’t Tax Pensions AND Social Security

By the way, if you are invested in one of these companies you should send an email to your company's IR contacts and ask them why they are still practicing excessive salary practices.

FTC Fines: FTC Chairman Reminds Companies That Fines Are the FTC’s Strategic Tool To Deter Noncompliance

Aside from the settlement, the case is another important reminder that companies should be aware of what their vendors are doing because a vendor’s actions could cause the company to be noncompliant with privacy laws and subject to fines and penalti

Lugano bank ‘seriously breached anti-money laundering regulations’

The breach is in connection with the handling of Venezuelan client relationships.

HSBC’s role in the US lawsuit against Huawei called into question

Lawyers for Huawei argue HSBC improperly aided the US to indict CFO Meng Wanzhou

Wallis Bank Participates in ABA's #BanksNeverAskThat Anti-Phishing Campaign

The #BanksNeverAskThat campaign uses attention-grabbing content to empower consumers to identify bogus bank communications asking for sensitive information like their social security numbers.

Former client relationship manager at Bank of America pleads guilty to embezzling from client company

Defendant used embezzled funds to purchase Porsche SUV and luxury items

Securities America advisor charged with fraud in cherrypicking scheme: SEC

He generated $37,042 in first-day profits for himself and $141,642 in losses to clients from doing so, investigators say.

The PBGC’s Inconvenient Surplus

From a plan sponsor perspective, the premiums are essentially a tax — one that seems to provide no direct benefit to the payors unless they go bankrupt and leave their plans to the PBGC.

Swiss Bank Ensnared in Venezuelan Graft Probe

The activity has been carried out at the bank’s offices and has been having a significant impact on the overall costs for the year

Former Swiss bankers plead guilty in U.S. tax evasion case

The trio had been indicted in 2012 alongside the bank itself on allegations of shielding $1.2 billion from U.S. taxes, but prosecutors agreed to the lesser charge in March.

Dirty money has ‘metastasized’ within global banking system, top regulator says

New York’s financial regulator acknowledged that the financial system is “awash with trillions of dollars in dirty money,” and has called on banks to help fix it.

UBS and Banco do Brasil Launch UBS BB Investment Bank and Unveil the Firm’s Leadership Team

UBS BB will provide investment banking services in Brazil, Argentina, Chile, Peru, Paraguay and Uruguay and institutional securities brokerage in Brazil.

JP Morgan Chase admits to US market manipulation and agrees to pay $920m

‘Spoofing’ practice illegally affected futures and metals market

Legal, Regulation & Compliance