Managers of Wealth Americas

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

SEC Issues $1.8 Million Whistleblower Award to a Company Outsider

Marks 100th Individual Awarded Under Whistleblower Program

Managing the evolving compliance landscape facing multinationals

We take a closer look at the findings of the Global Business Complexity Index 2020

As bank giant's shares sink to new low, HSBC to face class action over money laundering claims

Class action lawsuits allow multiple claims against a single defendant.

The window for "easy" partnership amended returns for CARES Act benefits is closing

Real estate partnerships are probably most impacted, though others as well.

How the FinCen Papers provide an opportunity to improve the Suspicious Activity Report (SARs) regime

Buzzfeed has had these SARs for over a year.

EU-US Privacy Shield declared invalid – what's next?

To ensure transatlantic data flows between the EU and the US following this annulment, the EU Commission and the US government reached a new political agreement on the subject, following which the Privacy Shield decision was adopted in July 2016.

Saudi-based Islamic investment firm acquires West Michigan properties in joint venture

The portfolio includes a mix of tenants in the automotive, manufacturing and the telecommunications industries.

Secret documents reveal potential dark side of prepaid debit cards

In 2014, for example, Bank of America characterized Choice Bank as “an issuer of prepaid cards for program managers with inherently high risk.”

Anonymous SEC Whistleblower Earns $2.4 Million Award For Prompting Commission to Open Investigation

The SEC Whistleblower Program protects the identity of whistleblowers who submit reward claims with the Commission.

Legal, Regulation & Compliance