Managers of Wealth Americas

Canoe Intelligence and SS&C team up

Canoe leverages a combination of industry expertise and advanced AI and machine learning techniques to eliminate the operational inefficiencies associated with alternative investment workflows.

Deutsche Bank Fined $150 Million For Relationship With Jeffrey Epstein, Other Lapses

First Enforcement Action by a Regulator Against a Financial Institution for Dealings with Jeffrey Epstein

Sequoia Financial Group Partners With Kudu Investment Management To Buttress Continued Growth

The firm is majority-owned by employees and continues to be led by Tom Haught, founder, president and CEO.

FNZ and State Street Collaborate On New Wealth Management Servicing Venture

State Street will serve as sub custodian to the custody assets belonging to Wealth Manager Services clients.

Sequoia Financial Group Partners With Kudu Investment Management

Founded in 2015, Kudu now has 13 partner firms that collectively invest $57 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies, as of March 31, 2020.

OCC Expands FFIEC Statement, Provides Guidance to Banks on Managing LIBOR Transition

Interestingly, the OCC Bulletin states that “[t]he OCC does not endorse a specific Libor replacement rate” and adds a “Risk Management” section that includes important new guidance for regulated banks.

Banks are ditching London offices and not just because of Covid-19

The pandemic has given banks further impetus to downsize and preserve cash after already spending a decade quietly offloading space as jobs vanished in the wake of the financial crisis.

Nigerian fraudster ‘Hushpuppi’ given St. Kitts-Nevis passport in February 2020 nabbed by FBI

Relying on data carefully analysed from several iPhones belonging to Hushpuppi, the FBI was able to discover loads of communications between the suspect and his collaborators

BankThink Repealing brokered deposit law would be a costly mistake

Legislation was recently introduced in Congress to implement such a repeal.

US FFIEC Issues Joint Statement on Managing the LIBOR Transition

The FFIEC Statement highlights the financial, legal, operational and consumer protection risks that will result from the transition from LIBOR

IFC and Citi partner on Covid-19 risk-sharing support deal

The signing marks the extension of an existing facility, the IFC’s global trade liquidity programme (GTLP), initially set up in 2009, bringing the size of the facility to US$2bn.

Legal Job Gains Double in June, Sector Looks to Regain Footing

Legal sector adds 7,500 jobs despite worsening pandemic

New U.S. visa restrictions curb foreign hiring

It’s possible that the tightening of visa restrictions could lead to more offshore outsourcing in India and other countries, particularly since U.S. companies have grown more comfortable with remote work during the pandemic.

World Economic Outlook Update, June 2020

A Crisis Like No Other, An Uncertain Recovery

From the Tax Law Offices of David W. Klasing - Do You Need to File for Voluntary Disclosure if You Failed to Disclose Money Made Abroad?

Most foreign banks are complying with FACTA and voluntarily reporting U.S. taxpayers that have offshore bank accounts and annually supply such information to the IRS.

Legal, Regulation & Compliance