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UBS could get hit with hefty fines over Credit Suisse’s dealings with Archegos
The Federal Reserve’s fine over Archegos may be as high as $300 million, while the UK’s Prudential Regulation Authority could impose a penalty of up to $128 million.
UBS completes Credit Suisse takeover, creating wealth management titan
The closing of the deal allows UBS to move forward with the integration of its former rival, a process that's likely to involve thousands of job cuts.
Credit Suisse fears fail to rattle US wealth management market, for now
The Swiss bank pulled out of the US financial advisory business in 2015 when it shuttered its private banking unit here.
Credit Suisse weighs new round of job cuts
The head count reductions would be part of a renewed push to cut costs after the bank warned of a second-quarter loss.
Family offices face scrutiny as CFTC boss vows no Archegos redux
The collapse of Archegos Capital Management shows a need to rethink some of the agency’s rules, Rostin Behnam says.
Archegos founder Bill Hwang hit with criminal charges
Hwang and CFO Patrick Halligan were arrested early Wednesday and charged with fraud.
House committee approves bill to increase family office oversight
Legislation written by Rep. Alexandria Ocasio-Cortez, D-N.Y., would require some advisory firms that manage wealthy families' finances to register with the Securities and Exchange Commission.
SEC chief signals new rules that could threaten Robinhood, Citadel
In remarks prepared for a House hearing Thursday, Gary Gensler shines a spotlight on online brokerages and market makers that dominate the business of executing retail investors' equity orders.
Rockefeller’s Fleming sees corporate tax hike as ‘honeypot’
U.S. companies are the group most likely to see a tax increase given the amount of revenue that could bring in, the CEO of Rockefeller Capital said.
Archegos is a wake-up call for family offices
Family offices traditionally were set up by wealthy families to manage their assets, along with handling taxes, estate planning and other chores. As the ranks of the rich expanded, so did the number of family offices.
