Managers of Wealth Americas

COVID-19 Layoffs Can Mean PBGC Reporting Obligations

PBGC monitors workforce reductions, so plan sponsors must be vigilant.

Art market enforcement during the pandemic

Art market participants who are engaged in pending or projected transactions that are otherwise subject to regulatory oversight but that have been interrupted by the health crisis must take care not to run afoul of these regulations in the absence of any

Reporting with accuracy in the midst of the coronavirus

Graver consequences indeed would be faced by anyone foolish enough to ingest detergent, surely.

All Bark, No Bite: How US Bungled Case of ‘Major’ Money Launderer

The investigation into the Waked family’s alleged criminal enterprise started with an anonymous tip 10 years before Nidal was arrested in May 2016 at the international airport in Colombia’s capital, Bogotá.

Keith Robinson elected as Fellow of the American College of Trust and Estate Counsel

Keith is one of only two Bermuda lawyers who have been elected as international fellows of ACTEC

SEC transaction halt highlights unique issues for issuers and investors alike

Concerns include companies claiming the ability to prevent or cure COVID-19 which may result in dramatic increases in value.

SEC’s Suspension of 23 Companies Demonstrates That Whistleblowers Will be the Key to Holding Coronavirus Fraudsters Accountable

This new wave of whistleblowers incentivized by successful reward laws will play a critical role in combatting coronavirus fraudsters.

Shearman & Sterling offers lawyers huge holidays on 30% pay

But given the sizeable wedge earned by Shearman lawyers, it would seem more surprising if there were no takers for six months off work on 33% pay. They will just need no school fees, a small mortgage and a vast library of box sets.

After Slashing Partner Compensation, Biglaw Firm Moves To Stage 2 Of COVID-19 Austerity Measures: Attorney Layoffs (And More)

More cuts at this Am Law 200 firm.

How Project Libra And COVID-19 Drove Digital Dollar Idea In Congress

Facebook became a focal point in the hearing with respect to how much money is made off of individual’s data.

Proxy Advisors Issue Guidance on Executive Pay and Governance Changes Due to COVID-19

ISS policies related to private placement issuances are unchanged.

Old and new rules suggest coronavirus initiatives for private foundations

Discussed below are some situations where existing law creates opportunities for foundations fighting COVID-19.

IRS Issues Relief to Foreigners Stranded in the United States due to Coronavirus

US tax resident status brings with it taxation and reporting of worldwide income, as well as the risk of a potential US tax bill for (otherwise non-US) employer earnings or for foreign, non-US companies controlled by these potential “accidental&

California Pension Fund Board Slams CIO for Selling Off Hedges ahead of Coronavirus Market Downturn

Board members told the Journal that they had not been aware of the shift in investment strategy

Kentucky Teachers’ Fund Suspends Requirement for Notary Signatures

A patchwork of states allows remote witnesses, since in-person regulations have been made inconvenient by social distancing measures.

State Pension 2020: All the changes coming into force next month explained

State Pensions are set to increase by 3.9 per cent - the biggest boost since 2012

Large Korean bank to pay $35 mln fine for violating anti-money laundering law -NY state

Linda Lacewell, superintendent of New York’s Department of Financial Services, said the settlement resolved charges that IBK violated New York’s Bank Secrecy Act and anti-money laundering laws.

Facebook Seals Biggest Deal Since WhatsApp With India’s Ambani

Separately, Facebook said the deal would bring together JioMart, an ecommerce venture of Mukesh Ambani and its WhatsApp platform to enable people to connect with businesses.

No Gain, Lots of Pain

The stock market downturn portends big losses for government pension funds—and billions in new obligations for taxpayers.

CS sued for price rigging worth billions in corporate bonds, report says

The banks are accused of inflating spreads between the prices where they bought and sold odd-lot bonds

Legal, Regulation & Compliance