The massive money moves led to breathless coverage of these names on financial and mass media, and gave me flashbacks to 1999-2000, as market pundits waved their arms over these small names. It was energizing — but it misses the point.
The free-trading app faces renewed accusations that its platform is manipulative amid a decision to halt certain trades just a month after Massachusetts regulators accused it of ‘gamification.’
Market volatility related to a surge in trading of shorted stocks has drawn the attention of regulators and lawmakers. But it’s not clear whether there's a role for them to play.
Across age, income and education levels, people who are still paying down college debt on average had much smaller defined-contribution plan balances and in some cases were less likely to own a home, according to a study from the Employee Benefit Research Group.
The real fun is just getting started, now that everybody and their mother knows what a short squeeze is.
Moody's Investors Service this month gave a shot in the arm to the parents of Advisor Group and Cetera Financial Group when it raised its credit outlook from negative to stable for both. Advisor Group is home to 10,500 reps and advisers and Cetera has about 7,500 under its roof.
While users of the trading platforms claim in court filings that they suffered losses from the restrictions, legal experts say brokerages have broad powers to block or restrict transactions — all of which is spelled out as part of customer agreements everyone signs to gain access to the services.
Trading platforms issued restrictions on GameStop, AMC and other shorted stocks that surged to unprecedented highs this week. Lawmakers like Rep. Alexandria Ocasio-Cortez, D-N.Y., and Sen. Ted Cruz, R-Texas, expressed deep concern.
The company was far from being the first to register with the Department of Labor as a pooled plan provider. But its fully bundled service, which includes administration, fiduciary oversight and the plan’s investments, indicates that Fidelity is confident that it will not run afoul of the regulator.
In addition changing Reg BI's nomenclature, the Institute for the Fiduciary Standard called for eliminating some broker conflicts of interest, such as compensation incentives for product sales, revising the disclosure Form CRS and clarifying that investment advisers must avoid conflicts of interest rather than just disclosing them.
The deal for Florida-based Fulcrum Partners will expand the footprint of the giant insurance broker’s registered investment adviser.
The deal will reinforce MassMutual’s focus on its retail annuities business. Last year, the company sold its defined-contribution record-keeping business to Empower Retirement via a reinsurance transaction with a ceding commission of $2.35 billion.
Atlanta-based broker Tyler Delahunt had been discharged by the wirehouse over alleged outside investments.
As President Joe Biden’s pick to lead the Securities and Exchange Commission, he will be faced with a run-up in share prices with few parallels.
Clients can still call their advisers to initiate trades in those stocks, a bank spokesperson said. Both companies' shares have surged amid a push from retail traders.
The market frenzy was spurred by social media posts from prominent CEOs and internet influencers. The tweets and threads created internet mayhem and ultimately pushed the video game retail business to a $24 billion market cap.
The big news, announcements and underlying trends emerging in the world of technology solutions for financial advisers!
The agency is likely parsing the activity to see if there’s deliberate manipulation or collateral effects more broadly on stock prices. Shares of the video game and consumer electronics retailer soared 93% on Tuesday and are up more than eightfold for the month.
The brokers with outages or problems include the most prominent names in the discount and online brokerage industry, including Fidelity, the Charles Schwab Corp., TD Ameritrade, ETrade Financial Corp. and Robinhood.
A social media platform and ready access to mobile trading apps have helped push an otherwise obscure, money-losing videogame retail business to a $21 billion market cap.
