Managers of Wealth Americas

SEC Charges Investment Adviser for Failing to Disclose Conflicts

Securities and Exchange Commission v. Donald H. Hunter, Civil Action No. 3:20-cv-00391-RNC (D. Conn, filed March 24, 2020)

Focus Financial Sues Executive Who Jumped to Hightower

Holsopple, who the suit says falsely represented that he was not joining a direct competitor when he unexpectedly resigned and who was subsequently sent a cease-and-desist letter, did not respond to a request for comment.

Tax in the time of COVID-19

The goal is to ensure that households and businesses are able to keep their heads above water until the health crisis can be contained, so that the economy is ready to rebound once the worst of the pandemic has passed.

Acting selfishly has consequences right now – why ethical decision making is imperative in the coronavirus crisis

In fluid situations, these conditions are hard to meet.

Law Firms Conduct Layoffs, Slash Salaries In Response To Pandemic

We sympathize with anyone who has to deal with the anxiety of a global health crisis AND financial insecurity.

Coronavirus Job Listings and Money Laundering Schemes

Scammers posing as a legitimate charity foundation are hiring online customer service representatives that are required to do some groundwork in an initial stage.

IRS Clarifies Tax Filing and Payment Deadline Extensions

The Internal Revenue Service released a Q&A on Notice 2020-18 to clarify the relief available to taxpayers during the Coronavirus (COVID-19) pandemic.

Employers can immediately recover the cost of mandatory COVID 19 related leave through reducing payrolltaxes

The Families First Coronavirus Response Act requires employers with less than 500 employees to provide 10 days paid sick leave plus paid FMLA leave for COVID-19-related reasons. We outline the ways employers can immediately take advantage of this change.

Statute of Limitations Suspended in New York

New York extends statutes of limitations and deadlines in New York State litigations in unprecedented move.

EU, US, UK Authorities Grant Relief on Call Recording Rules

Also last week, the UK FCA (Financial Conduct Authority) signalled it will give temporary relief on rules requiring bankers and traders working from home to record calls with clients.

CSA issues guidance as banks, insurers get court order to hold online AGMs

The guidance relates to all business done at annual meetings, including election of directors and amendments to equity incentive plans.

US Federal Coronavirus Update Administration Blueprint for Third Economic Relief Package

To that end, Leader McConnell announced the formation of three republican task forces to examine major aspects of any economic relief legislation and draft a bill that can then be negotiated with Senate democrats and the House.

NYDFS Seeks Assurances from Regulated Entities in the Wake of COVID-19

The four Industry Letters issued by the NYDFS are directed to various regulated entities and require responses regarding the entities’ prospective responses to COVID-19.

4 key coronavirus crash personal finance questions answered

We haven’t heard anything definitive yet on providing an exception to these IRS rules as part of any relief program during the coronavirus pandemic.

SEC Fines HSBC $725K For Allegedly Misleading Advisory Clients

However, HSBC allegedly did consider several financial factors in determining the representatives’ compensation, including how much clients paid in advisory fees for HSBC Spectrum and Managed Portfolio Account.

Institutional investors give thumbs down to federal response on outbreak

The survey results from 69 partner-level investors found that 38% have no confidence in the federal government’s ability to contain the outbreak

Even with $1 trillion stimulus, hit to economy and employment from virus will be big

The Federal Reserve announced facilities for commercial paper and primary dealers on Tuesday, as well as another big repo facility, but the Fed is also expected to do more to stave off a financial crisis.

Obscure Hedge Fund Behind Morgan Stanley Probe Also Roiled Citi

Losses stem from derivative bets by China-owned Pandion fund

SEC Charges Three Ex-Advisory Firm Employees In Ponzi Scheme

Criminal charges also were brought against him by the U.S. Attorney's Office for the Eastern District of North Carolina based on the same misconduct, as well as Peters' providing false information to SEC staff.

Sophisticated professionals flood into Miami with hedge funds

This will attract a substantial number of sophisticated financial professionals into the South Florida business community, and will substantially increase economic activity here.

Legal, Regulation & Compliance