Industry lawyers are watching closely how New York’s highest court will settle a long - simmering battle over how much legal protection brokerage firms should have for statements made on so-called U-5 termination forms.
A former Wachovia Securities LLC branch manager in Toledo, Ohio, has been charged with stealing between $17 million and $40 million from about 45 investors by using a Ponzi-type scheme, according to the Department of Justice.
Fidelity Investments’ plan to subject more of its adviser-sold mutual funds to performance-fee adjustments got a chilly response last week from some financial advisers who said such incentives could encourage funds to take on too much risk.
Many insurers are providing incentives to their advisers to sell proprietary products, despite claiming to have “open architecture” platforms, according to industry observers.
WASHINGTON — The life insurance industry is concerned that a bill which would eliminate federal antitrust immunity for insurance could lead to unfavorable attention from the Federal Trade Commission.
IRVINE, Calif. — In response to complaints from brokers, Smith Barney has tweaked the final version of its new pay plan.
A newfangled model for helping independent investment advisory firms transition ownership to the next generation of employees has attracted two of the industry’s more established financial planning businesses.
After eight months of negotiations, LPL Financial Services Inc. last Thursday finalized the details of its acquisition of three broker-dealers owned by Pacific Life Insurance Co. of Newport Beach, Calif.
NEW YORK — The impending private-equity buyout of Texas’ largest electricity producer may give rise to more deals in which environmental lobbyists are invited to sit at the negotiation table.
PHILADELPHIA — WisdomTree Investments Inc. of New York is betting that when it comes to fundamental indexing — indexes weighted not by market capitalization but by other factors — the simpler, the better.
