Managers of Wealth Americas

Brazilian Bank Slapped With Record Money Laundering Fine in Paraguay

This was the largest fine related to money laundering in Paraguayan history.

What the US election result could mean for markets

There were and are bigger forces at work, driving the underperformance of those assets, than the vagaries of politicians indulging in rhetorical flourishes.

Julius Baer reaches agreement to resolve FIFA matter in the US

Julius Baer has reached an agreement in principle with the U.S. Department of Justice to settle an investigation in the FIFA matter.

Ex-Financial Advisor Who Stole $30 million From Pro Athletes Sentenced to Prison

Ash Narayan, 55, of Irvine received the 37-month sentence and was ordered to pay $18.8 million in restitution, the U.S. attorney's office said in a statement.

Apple must face shareholder lawsuit over CEO Cook's China sales comments

The lowered revenue forecast was the first by Cupertino, California-based Apple since the iPhone’s launch in 2007.

The Impact of SARs Disclosures on Financial Institutions

The surprising releases of information from Suspicious Activity Reports (SARs) that were filed with the Financial Crimes Enforcement Network have sent shockwaves through the financial industry

United States: Retirement bill introduced as sequel to SECURE Act

In unveiling their legislation—dubbed the Securing a Strong Retirement Act of 2020—Neal and Brady stressed that strengthening Americans’ retirement security is a goal shared by both parties and that enactment of the long-stalled SECURE A

Sound Practices for Operational Resilience Released by US Banking Regulators

Disruptions may come from any type of internal or external operational risk and include technology-based failures, cyber incidents, pandemic outbreaks, and natural disasters.

UBS Sued for $500 Million by Chinese Tycoon Over Deal Gone Awry

It’s not the first time Guo has brought such a lawsuit, after failing to get the claim heard in New York.

OFAC advisory notice highlighting potential sanctions risks stemming from dealing in high-value artwork

The Government usually takes this step—issuing a warning—as a precursor to embarking on some sort of action so that a target cannot later complain that it was not put on notice of the risks associated with violating a sanction.

JP Morgan agrees to pay at least $800,000 in back wages to settle a lawsuit that accused the bank of underpaying at least 93 women

The lawsuit also alleged the company did not ensure there was a path to fair pay.

Florida wealth adviser 'Dr. Cash' hit with fraud charges

According to charges here unveiled by the Department of Justice's Manhattan office, Chalk used the "Cash" name to hide a decade-old conviction for fraud-related offenses in New York.

JPMorgan Faces Possible Fine Related to Internal Controls

A JPMorgan spokeswoman declined to comment. An OCC spokesman also declined to comment on the bank’s disclosure.

Wells Fargo Lifts Hiring Bonuses for Advisors Hitting Asset-Transfer Targets

It will pay an additional 50% of T-12 to brokers who transfer 70% of their assets by the end of their sixth month, and another 30% at the end of each of their first, second and third years for hitting further asset-growth targets.

Government Revises Base Difference Rules in New Foreign Tax Credit Regulations

In particular, these regulations limit the situations in which taxpayers are prevented from claiming foreign tax credits attributable to base difference items.

Focus Financial Partners Announced that Oak Asset Management Will Join Partner Firm Vestor Capital

This transaction will help expand our local presence with a partner that represents an ideal strategic and cultural fit for our firm.

How Will Increased Privacy Regulation Affect Bank Marketing?

Ron van Wezel, senior analyst for the Aite Group, says privacy and data protection are becoming central to bank policies.

Wake-Up Call? SEC Enforcement Action Against Trust Company for Unregistered Collective Trust Funds

This Legal Update provides further detail on this development, which banks and advisers involved in the operation or maintenance of collective or common trust funds would be wise to carefully consider.

Crypto Crime Enforcement Trends: The US Department of Justice steps up

The Framework examines the DOJ’s role in prosecuting related misconduct, including applicable federal statutes, key partnerships, and enforcement challenges.

Hogan Lovells makes over 40 business services staff redundant

Like many other firms, it's a bit of a rollercoaster of ups and downs for staff due to the pandemic.

Legal, Regulation & Compliance