08/19/2020
Vanguard Consolidates Taxable Money Market Fund Management on Charles River IMS
Charles River IMS also enables users to incorporate its proprietary data and configure workflows unique to their product offerings.
Legal, Regulation & Compliance
08/19/2020
Rethinking “CEO exceptionalism”
Fortune/Deloitte CEO Survey on how COVID-19 is redefining the CEO role
08/19/2020
Wells Fargo cost-cutting plan to reach asset management, analysts say
"Wells Fargo & Company is at the beginning of a multiyear effort to build a stronger, more efficient company for our customers, employees, shareholders and other stakeholders," the statement from Wells Fargo said.
08/18/2020
IRS Issues Reit-Favorable Ruling For Taxable Reit Subsidiary In Private Equity International Healthcare Acqquisition
TRS will not be involved in any facet of the day-to-day operations at the Facilities
08/18/2020
Wells Fargo consumer chief may testify of 'fear' her predecessor inspired
The case could expose internal rifts that would normally remain outside of public view, though most of the bankers who may be called to testify are no longer with Wells Fargo. A trial has been scheduled for next summer.
08/17/2020
U.S. regulators issue guidance on AML enforcement actions
The agencies also listed four pillars for an institution’s AML compliance program.
08/17/2020
AML, KYC and Sanctions Fines for Global Financial Institutions Reach $5.6 Billion Mid-Year
Repercussions from high profile scandals and compliance failings hit US, Israeli, Nordic and German banks hardest
08/17/2020
Envestnet, Inc. to Offer $450 Million of Convertible Notes
The Notes will be general unsecured obligations, subordinated in right of payment to the Company’s obligations under its revolving credit facility.
08/17/2020
Citi’s $900 Million ‘Clerical Error’ Is Worst Wall Street Bungle in a Long Time
The wayward transfer of nearly a billion dollars appears to be one of the biggest screw-ups on Wall Street in ages, and it’s set tongues wagging in financial markets.
08/14/2020
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.
08/14/2020
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.
08/14/2020
SEI drops shop from $4bn fund amid overhaul
SEI dropped Neuberger Berman in favor of JO Hambro Capital Management in July.
08/13/2020
What a senate investigation means for the art market
The Report noted that although private dealers and auction houses are not legally required to implement AML policies, they must comply—like everyone else
08/13/2020
PGIM Partners With iCapital To Enhance HNW Access To Alternatives
iCapital's platform will augment PGIM Investments’ distribution and servicing capabilities, supporting financial advisors and their high-net-worth clients by allowing them to more easily access PGIM’s real estate, private credit and other
08/12/2020
Ogier advises Kismet Acquisition One Corp on its US$ 250 Million IPO
The Ogier team was led by partner Michael Killourhy and included senior associate David Mathews.
08/12/2020
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.
08/12/2020
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.
08/12/2020
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
08/11/2020
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.
08/11/2020
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.