Managers of Wealth Americas

Executive responsible for making sure Wells Fargo follows regulations is departing

NBC News reported that Wells Fargo had placed customers into a program, without their permission, that suspended payments on federally backed mortgages.

Global Anti-Money-Laundering Fine Amounts Released

For years the U.S. has led the way in imposing major anti-money laundering (AML) fines, but regulators in Europe have recently started taking a much tougher line.

SEI drops shop from $4bn fund amid overhaul

SEI dropped Neuberger Berman in favor of JO Hambro Capital Management in July.

What a senate investigation means for the art market

The Report noted that although private dealers and auction houses are not legally required to implement AML policies, they must comply—like everyone else

PGIM Partners With iCapital To Enhance HNW Access To Alternatives

iCapital's platform will augment PGIM Investments’ distribution and servicing capabilities, supporting financial advisors and their high-net-worth clients by allowing them to more easily access PGIM’s real estate, private credit and other

Ogier advises Kismet Acquisition One Corp on its US$ 250 Million IPO

The Ogier team was led by partner Michael Killourhy and included senior associate David Mathews.

HashCash Partners with UAE Bank to Help with Blockchain Digital Identity

HashCash Consultants is helping a UAE based global bank to integrate blockchain-based digital identity verification processes, to streamline the essential banking operations for the management as well as the customers.

Ameriprise advisor sued by JPMorgan — then rapidly hit with TRO — fights back

Approximately $25 million of the $146 million in client assets Riley oversaw at JPMorgan have transferred to his new employer thus far, according to the bank’s lawsuit.

PGIM Investments and iCapital Network Announce Partnership

Trillion-dollar asset manager will integrate iCapital Network technology to power seamless alts experience for HNW advisor channel

Canaccord Genuity deal may hinge on US$34B U.K. wealth unit

A potential sale of Canaccord outright is low, as there may be a limited pool of potential buyers interested in Canaccord’s globally distributed and diverse assets.

US Office of Foreign Assets Control imposes sanctions against 11 designated individuals in Hong Kong

Over the weekend, both the Hong Kong Monetary Authority and Securities & Futures Commission have issued notices in response to these designations.

Lower US weekly jobless claims; BoE on hold

While cautiousness looks justified on ongoing fragile recovery, the 2021 BoE's scenario looks too optimistic without any further support from the economic policy.

Schroders’ experts preview the 2020 US presidential election

Schroders’ experts share their views on the 2020 US presidential race; from what the polls are telling us, to the potential impact on markets and policy.

Glia Fuses Digital Customer Service with Alkami Online Banking Platform

Alkami brings Glia's digital-first customer support platform to clients within an integrated cloud-based product suite

CFIUS’s 2019 Annual Report Shows Increased Reviews of Foreign Investment as Jurisdiction Expands

With the new FIRRMA regulations now implemented, which allow Declarations to be filed for all transactions, investors should closely monitor these trends and CFIUS’s execution of its expanded jurisdiction.

Goldman Sachs cuts quarterly earnings citing legal provisions

The bank said it set aside $2.96 billion in the second quarter for legal and regulatory costs, up from the $945-million Goldman said it set aside on July 15 during its second quarter earnings announcement.

Beyond the FCPA Resource Guide Redlines: What's New and Why It Matters

This Mayer Brown Legal Update includes a quick update on what's new in the second edition

“Comparable” Alternative Reference Rates to LIBOR: The Low Bar for Official Designation, the Much Higher Hurdle of “Fit for Use” and Implementation for Market Participants

While there are a little over 500 days before LIBOR’s likely permanent cessation on December 31, 2021

Absa ARO Completes Fully Virtual Implementation as It Moves to Fiserv for Card Management and Processing Across Nine African Nations

This timely implementation of FirstVision was achieved using a virtual team model based on proven Fiserv conversion methodologies, as the ongoing pandemic required remote operations.

CI Financial to acquire US$4.5-billion RIA

The acquisition vaults CI's U.S. wealth management business past the US$10 billion mark to approximately US$11 billion (C$14.7 billion) in assets.

Legal, Regulation & Compliance