Managers of Wealth Americas

New York Responds to TRansition from LIBOR

Given the risks associated with the termination of LIBOR, the Department requires that each regulated institution submits its transition plan to the Department by February 7, 2020.

New York Enacts Zombie Property Law

If foreclosure proceedings have already commenced, file the necessary motions and paperwork to move the case to judgment foreclosure within three months

Federal Reserve Publishes Fintech Risk Management Guidance

The guidance also provides several targeted risk management tips specific to online/mobile banking and fair lending risks

Final Rules Issued On Reviews Of Foreign Investments In The United States – CFIUS

The new rules clarify and revise proposed regulations issued by Treasury last September

Stifel Announces 2020 Partnership With Financial Women’s Association

The FWA partnership will bring even more opportunities for our female associates to collaborate, network, and expand their skillsets while also giving back to the community through mentoring.”

US doctor sentenced to jail over Jersey tax cheat

"The defendant is a highly educated man who knew that the law required him to report all the income"

New York state court rules that exercising an option to redeem a limited partners’ interests in a LIHTC partnership does not trigger a liquidation under the partnership agreement

Commercial Litigation Alert by Author(s): Louis E. Dolan, Jr. , Jamie Lee

Offshore firm hit with $244,000 fine for unregistered trading

The ASC gratefully acknowledges the assistance of the British Virgin Islands Financial Services Commission in this matter.

Nevis International Bank & Trust and Kroll Launch Global Collaboration on Best Practices Regulatory Compliance

The collaboration will allow NIB&T to leverage Kroll's expertise and augment NIB&T's footprint servicing a fast-growing private banking and corporate banking global clientele.

Wall Street Wants to Conquer China. Here’s What May Go Wrong

China is home to the world’s four largest banks by assets, the biggest global fintech company and other formidable competitors.

VitalityInvest and SEI launch new Global Multi-Manager fund range

The new Global Multi-Manager funds are available exclusively through VitalityInvest’s ISA, Junior ISA and Retirement Plan

Millions up in smoke in cannabis scam

SEC Files Charges Against Scheme to Sell Fictitious Interests in Marijuana Company

Global banks hit with £6.2bn in fines

This is double the amount, and nearly double the value, of penalties handed out in 2018, when 29 fines of $4.27bn (£3.2bn) were imposed.

SEC Charges Individual with Acting as an Unregistered Broker

The SEC's complaint, filed in federal court in Minnesota, charges Lundervold with violating the broker-dealer registration provisions

COLOMBIA: Amended tax reform legislation enacted

The legislation—which is effective as from that date—contains many of the provisions originally contained in the 2018 tax reform law

Delaware Chancery Court broadens stockholder’s rights to inspect a corporation’s books and records

Interpretation of this statutory provision is the subject of extensive court analysis in Delaware.

FINRA 2.0

FINRA will also continue to focus on the challenges that the increasingly broad array of digital communications

Delaware Courts lean towards market-based valuation approaches

The Judges recognised that legitimate debates over the inputs in a DCF valuation can undercut the reliability of that DCF model.

First Women's Bank gets green light from state to raise capital

The first bank startup in the Chicago area in over a decade has $3.5 million in seed money and expects to raise an additional $46.5 million, with a goal to open its doors in the second half of the year.

CBD regulatory uncertainty opens door for class action litigation

Companies with CBD products on the market should closely monitor pending class action litigation and recognize the risks associated with potentially being named a defendant therein.

Legal, Regulation & Compliance