Broker-dealer agrees to pay $200K to settle Finra allegations it sold unsuitable private placements; SEC charges still pending
The following is an edited version of testimony given July 26 by Phyllis C. Borzi, assistant secretary of labor in charge of the Employee Benefits Security Administration, before the House Education and the Workforce Subcommittee on Health, Employment, Labor and Pensions
A U.S. Treasury Department watchdog said 2.1 million taxpayers may have received “erroneous” education-related tax credits totaling about $3.2 billion.
Utah Senator Orrin Hatch is urging the Obama administration to back away from a proposal to cap itemized deductions at 28%.
Management keen to boost productivity by thinning ranks; market share of four giants also dwindling
Bank settles allegations that its B-D sold pool of mortgages to clients — then bet against them
The National Association of Personal Financial Advisors is worried that its reputation will be tarnished in light of a second high-profile investigation involving one of its former executives
One unintended consequence of the long-awaited Volcker rule, which was mandated by Dodd-Frank and finally issued by U.S. regulators last week, may be increased pressure on the retail-wealth-management businesses of wirehouses to contribute more to overall profitability
Occupy Wall Street protesters are lashing out against what they see as a financial industry luxuriating in wealth created at the expense of the middle class. Wall Street, however, has its own grievances against Washington, which were on display last week.
Bob Reynolds, chief executive of Putnam Investments, last week called for the establishment of a regulatory body to approve lifetime-income products
The Supreme Court has refused to revive a bid to sue Bank of America Corp.'s Merrill Lynch unit for allegedly paying 700 black financial advisers less than their white counterparts
Protesters in the Occupy Wall Street movement are giving financial advisers something else to worry about: a generation of leery, cynical investors
Levy would fund jobs bill; given GOP opposition, 5% rate also likely probability of passage
Bank of America Corp.'s Merrill Lynch unit will pay $1 million to resolve claims that supervisory failures enabled a Texas-based representative to operate a Ponzi scheme using a company account.
Economic uncertainty and volatile markets are helping scam artists exploit the fear and greed of unsophisticated and often financially vulnerable investors.
Rumors have been swirling for months about who would acquire Securities America, the embattled broker-dealer. On Wednesday, the guessing-game ended, as parent Ameriprise sold the B-D to Ladenburg Thalmann.
