An NASD arbitration panel ordered Merrill Lynch to pay a former employee $1.6 million after he was fired because of his ethnicity.
Morgan Stanley’s retail brokerage unit ranked dead last in customer satisfaction for the second year in a row, according to a survey.
The American Benefits Council supports fee disclosures related to 401(k) plans—as long as it's pertinent.
The Nasdaq Stock Market Inc. will make a wide range of its data tools available via the Web.
In wake of the BoNY-Mellon merger, third-party trading technology has been made available to assist customers of Pershing.
The recent fallout in the market for subprime mortgages caused one prominent hedge fund index to revise some of its performance returns last week. Last Monday, the Credit Suisse/Tremont Hedge Fund Index reported that its index for fixed-income arbitrage gained 0.21% in June and 3.7% year-to-date.
After building businesses through fee-based brokerage accounts and mutual fund trail fees, many brokers are anxious about looming changes to these sources of revenue.
The Department of Labor has rejected a proposal by the insurance industry to include stable-value funds as a default option for 401(k) plans, according to industry sources.
NEW YORK — An increasing number of independent-contractor broker-dealers are doing business with more than one clearing partner, adding to the stiff competition among some clearing firms.
NEW YORK — Despite continued consolidation, the clearing industry in some ways is becoming more crowded, with increased competition for the clearing business of top independent-contractor broker-dealers.
WASHINGTON — Washington early this month became the third state to move toward regulating adviser designations when it issued two concept releases asking for public comments on the issue.
NEW YORK — Most clients’ collections are a labor of love and not a quest for investment returns, according to financial advisers with collector clients.
SAN FRANCISCO — After achieving success in pilot cities, Fidelity Investments is taking its revamped referral program to Los Angeles, Manhattan and the New York suburbs, but with changes.
CHICAGO — While the Department of Labor has yet to issue final regulations on default options for 401(k) plans, many companies are jumping ahead and incorporating a qualified default investment alternative into their retirement plans.
401(k) participants should get concise annual summaries of expenses—preferably online, according to a trade group.
Aperto Networks has been named as the Top WiMAX Company in India by VOICE&DATA magazine in its latest annual survey of multiple technology sectors in India.
Another partnership has been formed in preparation for impending boomer retirement rush.
The Department of Labor has proposed that investments be allowed as default options in 401(k) plans.
