Managers of Wealth Americas

Advisor’s dilemma: To travel or not in the age of coronavirus?

They are still taking in-person client meetings, but skipping conferences.

A near record year for money laundering: Banks hit with $10 billion in fines

One remarkable finding in the report is that, despite a spate of new data privacy laws, they resulted in almost no fines.

Feds hit ex-U.S. Bancorp exec with $450,000 money-laundering fine

La Fontaine admitted responsibility in failing to make sure the bank was properly staffed to meet regulations, according to a filing from FinCEN, a unit of the U.S. Department of the Treasury.

J.P. Morgan Releases 2020 Guide to Retirement

Guide Analyzes Key Issues Impacting Retirement Planning

Why Customers Won’t Set Foot In Banks In The Future

Customers now have the options to take care of almost all of their banking outside the branch, making the locations that were once hubs of financial activity nearly obsolete.

US charges Russian billionaire Tinkov with tax fraud

Tinkov paid a £20m bail to be allowed to stay in a apartment owned by his wife in central London so long as he respects a 7pm to 7am curfew.

Barclays, Merrill Resurface in Third German Tax Indictment

The transactions took advantage of how Germany taxed dividends, abusing the system to claim multiple refunds on a tax paid only once, according to investigators.

Former Risk Officer at U.S. Bank Fined for Weak Anti-Money Laundering Oversight

U.S. Bank noted the enforcement action is specific to Mr. LaFontaine and not against the bank.

Ex-Brokerage Chief Loses Claims Against Merrill

LaMothe also claimed violations of various Finra rules related to stocks and options he allegedly earned while working for the company, according to an award document published by Finra.

AMB Sports and Entertainment and Gallagher Announce Multi-Year Strategic Partnership

This partnership will benefit not only fans from around the world who visit Mercedes-Benz Stadium, but also the Atlanta community through involvement in The Home Depot Backyard and their commitment to improvement initiatives for the Westside of Atlanta.&a

Wells Fargo Fined By SEC

One of the biggest concerns was the fact that according to SEC’s findings, Wells Fargo does not protect or detect improper recommendations of single-inverse ETFs.

How Advisors Can Guard Against Data, Identity Theft This Tax Season

According to the Federal Trade Commission, your client may not know the theft happened until the IRS sends a letter saying they’ve received a suspicious tax return with your client’s SSN

Money & the Law: Wells Fargo settlement includes admissions of guilt

Employees were very creative in finding ways to meet unrealistic sales goals. Eventually, their strategies became known within the company as “gaming.”

75-year old U.S. man pleads guilty in Panama Papers probe

Gaffey was the first American arrested over the Panama Papers

SEC fines Wells Fargo $35 million for unsuitable sales of complex products

Firm recommended that clients buy, hold single-inverse ETFs in retirement accounts despite previous Finra penalty

US legal giant Latham & Watkins boosts revenue to record $3.7bn

Latham said its 514 equity partners were paid an average of $3.78m last year, up 9.5 per cent on the previous year.

Ashurst opens Los Angeles office

International law firm Ashurst today announces the official opening of an office in Los Angeles, in order to further build on its capacity to deliver on major projects in the US.

Long Island bank director is ousted amid lawsuit against rival

According to one source familiar with vote, the elder Sapanski fell out of favor with Puorro and his team after his son’s defection and Pun’s move against the bank last month.

Corporate Crime update - Herbert Smith Freehills

Our update now covers a number of jurisdictions.

Oil Is Now More Volatile Than Bitcoin

Bitcoin and most cryptocurrencies are synonymous with extreme bouts of volatility.

Legal, Regulation & Compliance