Legal http://wealthmanagement.com/taxonomy/term/23641/more en Panama Papers Firm to Shutter Wealth Management Unit http://wealthmanagement.com/blog/panama-papers-firm-shutter-wealth-management-unit <div class="node-body blog-body">Mossack Fonseca ordered to shutter wealth management business, institutional investors advocate an end to shell company secrecy and the common traits of high-net-worth investors.</div> <p><a href="http://wealthmanagement.com/blog/panama-papers-firm-shutter-wealth-management-unit" target="_blank">read more</a></p> http://wealthmanagement.com/blog/panama-papers-firm-shutter-wealth-management-unit#comments Legal Markets Blogs High Net Worth The Daily Brief Tue, 24 May 2016 10:00:00 +0000 1190761 at http://wealthmanagement.com In Mickelson Approach, SEC Claims No Wrongdoing but Wants Cash http://wealthmanagement.com/legal/mickelson-approach-sec-claims-no-wrongdoing-wants-cash <div class="field-byline"> Matt Robinson, Erik Larson and Patricia Hurtado </div> <div class="node-body article-body">Even as Phil Mickelson agreed to surrender almost $1 million in what the government called ill-gotten stock market gains, his legal team claimed a victory.</div> <p><a href="http://wealthmanagement.com/legal/mickelson-approach-sec-claims-no-wrongdoing-wants-cash" target="_blank">read more</a></p> http://wealthmanagement.com/legal/mickelson-approach-sec-claims-no-wrongdoing-wants-cash#comments Legal People Fri, 20 May 2016 13:21:00 +0000 1188811 at http://wealthmanagement.com <p>Phil Mickelson brought the Claret Jug to the floor of the New York Stock Exchange after winning the British Open in 2013.</p> Copyright John Moore, Getty Images Five Banks Sued in U.S. For Rigging $9 Trillion Agency Bond Market http://wealthmanagement.com/fixed-income/five-banks-sued-us-rigging-9-trillion-agency-bond-market <div class="field-byline"> Jonathan Stempel </div> <div class="node-body article-body">Five major banks and four traders were sued on Wednesday in a private U.S. lawsuit claiming they conspired to rig prices worldwide in a more than $9 trillion market for bonds issued by government-linked organizations and agencies.</div> <p><a href="http://wealthmanagement.com/fixed-income/five-banks-sued-us-rigging-9-trillion-agency-bond-market" target="_blank">read more</a></p> http://wealthmanagement.com/fixed-income/five-banks-sued-us-rigging-9-trillion-agency-bond-market#comments Legal Fixed Income Thu, 19 May 2016 10:54:00 +0000 1187351 at http://wealthmanagement.com Copyright Davis Turner, Getty Images More Than 25,000 Madoff Victims Now Eligible for $4 Billion Fund http://wealthmanagement.com/legal/more-25000-madoff-victims-now-eligible-4-billion-fund <div class="field-byline"> Jonathan Stempel </div> <div class="node-body article-body">The overseer of a $4 billion U.S. Department of Justice fund for victims of Bernard Madoff's Ponzi scheme said he expected to recommend payouts for at least 25,280 claimants with nearly $4 billion in fraud losses.</div> <p><a href="http://wealthmanagement.com/legal/more-25000-madoff-victims-now-eligible-4-billion-fund" target="_blank">read more</a></p> http://wealthmanagement.com/legal/more-25000-madoff-victims-now-eligible-4-billion-fund#comments News Legal High Net Worth Wed, 18 May 2016 20:04:00 +0000 1187191 at http://wealthmanagement.com <p>Bernie&nbsp;<span data-scayt-lang="en_US" data-scayt-word="Madoff's">Madoff&#39;s</span>&nbsp;fraud was uncovered in December 2008. Victims have been waiting 7 1/2 years to recover some of their losses.</p> Copyright Mario Tama, Getty Images Raymond James Fined for Failing to Follow Anti-Money Laundering Rules http://wealthmanagement.com/legal/raymond-james-fined-failing-follow-anti-money-laundering-rules <div class="node-body article-body">Wall Street's industry-funded watchdog has fined Raymond James Financial Inc $17 million for widespread failures in anti-money laundering compliance, the regulator said on Wednesday.</div> <p><a href="http://wealthmanagement.com/legal/raymond-james-fined-failing-follow-anti-money-laundering-rules" target="_blank">read more</a></p> http://wealthmanagement.com/legal/raymond-james-fined-failing-follow-anti-money-laundering-rules#comments Legal Regulation & Compliance Wed, 18 May 2016 14:31:00 +0000 1186681 at http://wealthmanagement.com BofA Targeted By Top Female Banker in 'Bro's Club' Lawsuit http://wealthmanagement.com/legal/bofa-targeted-top-female-banker-bros-club-lawsuit <div class="field-byline"> Jonathan Stempel </div> <div class="node-body article-body">A senior female fixed-income banker at Bank of America Corp filed a lawsuit accusing the bank of underpaying women, and retaliating against her for complaining about illegal or unethical business practices by her colleagues.</div> <p><a href="http://wealthmanagement.com/legal/bofa-targeted-top-female-banker-bros-club-lawsuit" target="_blank">read more</a></p> http://wealthmanagement.com/legal/bofa-targeted-top-female-banker-bros-club-lawsuit#comments Legal People Tue, 17 May 2016 16:16:00 +0000 1185581 at http://wealthmanagement.com Copyright Justin Sullivan, Getty Images SEC, Treasury Ask Wall Street Dealers to Report Bond Trade Data http://wealthmanagement.com/fixed-income/sec-treasury-ask-wall-street-dealers-report-bond-trade-data <div class="field-byline"> Alexandra Scaggs </div> <div class="node-body article-body">Two government agencies are seeking the help of Wall Street’s self-regulator as they team up to survey about $500 billion of daily transactions in the U.S. Treasuries market.</div> <p><a href="http://wealthmanagement.com/fixed-income/sec-treasury-ask-wall-street-dealers-report-bond-trade-data" target="_blank">read more</a></p> http://wealthmanagement.com/fixed-income/sec-treasury-ask-wall-street-dealers-report-bond-trade-data#comments Legal Fixed Income Regulation & Compliance Tue, 17 May 2016 15:10:00 +0000 1185361 at http://wealthmanagement.com State Street Likely to Pay Over $500 Million to Settle Lawsuits - WSJ http://wealthmanagement.com/legal/state-street-likely-pay-over-500-million-settle-lawsuits-wsj <div class="node-body article-body">State Street Corp is nearing a deal to pay more than $500 million to end long-running investigations over allegations that the custody bank dishonestly overcharged clients on currency transactions, the Wall Street Journal reported.</div> <p><a href="http://wealthmanagement.com/legal/state-street-likely-pay-over-500-million-settle-lawsuits-wsj" target="_blank">read more</a></p> http://wealthmanagement.com/legal/state-street-likely-pay-over-500-million-settle-lawsuits-wsj#comments Legal Mon, 16 May 2016 17:27:00 +0000 1184451 at http://wealthmanagement.com Copyright Chip Somodevilla, Getty Images IRS “Rolls Over” Where Beneficiary Designation Overlooked http://wealthmanagement.com/retirement-planning/irs-rolls-over-where-beneficiary-designation-overlooked <div class="field-deck"> Surviving spouse receives taxpayer-friendly ruling in IRA case </div> <div class="node-body article-body">Without professional assistance, it’s easy for an individual to forego updating an essential element of their estate plan: beneficiary designations. </div> <p><a href="http://wealthmanagement.com/retirement-planning/irs-rolls-over-where-beneficiary-designation-overlooked" target="_blank">read more</a></p> http://wealthmanagement.com/retirement-planning/irs-rolls-over-where-beneficiary-designation-overlooked#comments Legal Retirement Planning Public Thu, 12 May 2016 19:43:00 +0000 1182191 at http://wealthmanagement.com Copyright Joe Raedle, Getty Images NY Regulator Wants Info From Goldman, Banks on Panama Firm Dealings - Source http://wealthmanagement.com/legal/ny-regulator-wants-info-goldman-banks-panama-firm-dealings-source <div class="field-byline"> Suzanne Barlyn </div> <div class="node-body article-body">New York State's financial regulator has asked Goldman Sachs and three foreign banks for information about shell companies set up through a Panamanian law firm, a person familiar with the matter said on Wednesday.</div> <p><a href="http://wealthmanagement.com/legal/ny-regulator-wants-info-goldman-banks-panama-firm-dealings-source" target="_blank">read more</a></p> http://wealthmanagement.com/legal/ny-regulator-wants-info-goldman-banks-panama-firm-dealings-source#comments Legal Taxes Thu, 12 May 2016 13:02:00 +0000 1181281 at http://wealthmanagement.com Copyright Joe Raedle, Getty Images