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Biggest U.S. banks cut municipal-bond holdings

May 31, 2018

More than a half dozen of the biggest U.S. banks reduced their holdings of state and local government bonds by billions of dollars after the federal government slashed corporate tax rates, making the securities less valuable to one of the market's...

Why Schwab's CEO bets you won't be trading stocks on Amazon

April 25, 2018

Walt Bettinger, the CEO at Charles Schwab Corp., has some friendly advice for Amazon.com Inc.'s Jeff Bezos: Think twice before getting into the investment business. "If you're a FAANG-type company and you decide you want to come into our space...

JPMorgan Chase sued for charging 'sky-high' fees for crypto purchases

April 12, 2018

JPMorgan Chase & Co. has been sued for charging "sky-high" interest rates and fees to customers who used their credit cards to buy cryptocurrencies such as bitcoin. Brady Tucker, a Chase credit card customer in Idaho, claims the bank in January...

Volatility is back. Should investors stay or go?

April 5, 2018

It's the eternal debate. Stocks are teetering. Volatility's back. Do you ride it out, or take the money and run? The question is obvious, the answer is not. Like now. Is it the end? Facebook and Amazon are in free fall, the yield curve is flat...

Digital investment firm launches new fund for women

March 27, 2018

Ellevest, the digital investment startup founded by Wall Street veteran Sallie Krawcheck, is launching a new fund to invest in offerings that help advance women. "What we're hearing from women is that they want to take positive action," Ms....

Bank of America $42 million fine renews push for more info on where orders go

March 26, 2018

Bank of America Corp.'s $42 million fine for misleading clients prompted fresh calls for better insight into where investor orders go in the U.S. stock market. It settled with New York Attorney General Eric Schneiderman over accusations of bad...

Bank of America to pay $42 million to NY over electronic trading probe

March 23, 2018

Bank of America Corp.'s corporate and investment banking division agreed to pay $42 million to settle a New York state probe into a so-called masking scheme in which it misled clients about who was seeing and filling their orders and who was...

What to make of Morgan Stanley's new robo

March 22, 2018

Morgan Stanley is testing how an old-school gang of brokers and advisers and a newfangled, algorithm-driven robo-adviser can work together. When Morgan Stanley said last May that it was cutting back on recruiting and would focus on building...

UBS to pay New York state $230 million to resolve probe

March 21, 2018

UBS AG agreed to pay $230 million to resolve a New York state probe into its marketing of residential mortgage-backed securities before the financial crisis, boosting the state's recoveries in the investigation to almost $4 billion. The settlement...

Merrill insiders to receive $83 million in SEC whistleblower awards

March 19, 2018

Three Merrill Lynch insiders will get more than $83 million from the U.S. Securities and Exchange Commission — the biggest-ever payouts — for providing information that helped the agency bring a 2016 case against Bank of America Corp., their...

Stocks of brokerages, insurers rally after DOL rule struck down

March 16, 2018

Morgan Stanley and Principal Financial Group Inc. were among banks and insurers that rallied after a U.S. appeals court struck down a sweeping Obama-era rule that aimed to protect millions of Americans from conflicted investment advice. The...

Wall Street doesn't get much relief in Dodd-Frank reboot

March 5, 2018

The U.S. Senate is expected to approve a sweeping revamp of financial rules this week. Of all the surprises that entails — about a dozen Democrats signing on, Republicans leaving a lot of the much-maligned Dodd-Frank legislation intact —...

Muted sanctions remove spotlight from Wall Street misconduct

February 15, 2018

Under President Donald J. Trump, a top financial regulator isn't embarrassing Wall Street as much as it used to. Take TPG Capital LP — the private equity behemoth co-founded by billionaire David Bonderman. For years, the U.S. Securities and...

Treasury market pummeled in its worst January since 2009

February 1, 2018

The U.S. Treasury market is delivering investors a loss of historic proportions to start 2018. The Bloomberg Barclays U.S. Treasury Index was down 1.42% through Jan. 30. It's on track for the worst start to a year since January 2009, when traders...

Stock fervor abounds as equities continue to rally

January 10, 2018

The sound of euphoria just got a bit louder. The new year isn't even two weeks old, and already $2.1 trillion has been added to the market capitalization of global equities. The market is verging on such overbought levels that not even reliably...

Brokerage stocks still have room to run: analyst

January 8, 2018

The stocks of smaller, mid-cap brokers, most notably LPL Financial Holdings Inc., and electronic trading firms have the greatest potential valuation upside in 2018. Various policy tailwinds and economic drivers appear poised to give a shot to...

Wall Street aims to protect 401(k)s from hacking nightmare

January 4, 2018

U.S. financial firms plan to expand a secretive project protecting bank accounts against crippling cyberattacks so that it will also guard trillions of dollars in investment funds. The industry-led project, called Sheltered Harbor, already is...

Morgan Stanley fires former Congressman Harold Ford for misconduct

December 7, 2017

Morgan Stanley fired former Congressman Harold Ford Jr. after conducting an investigation into harassment, making him the most prominent Wall Street figure to lose his job after an accusation of misconduct. He denies the claims. "He has been...

BlackRock, Vanguard on track to manage $20 trillion within a decade

December 4, 2017

Imagine a world in which two asset managers call the shots, in which their wealth exceeds current U.S. GDP and where almost every hedge fund, government and retiree is a customer. It's closer than you think. BlackRock Inc. and Vanguard Group...

Merrill Lynch fined $45.5 million for failing to report trades

October 23, 2017

Bank of America Corp.'s Merrill Lynch was fined 34.5 million pounds ($45.5 million) for failing to report two years' worth of exchange-traded derivatives transactions, making the bank the first in the U.K. to pay a penalty on that type of trades...

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