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Volatility coming for muni market
FIXED INCOME OCT 09, 2020
Volatility coming for muni market

BlackRock, Wells Fargo analysts see the election and a surge in muni sales shattering the market's calm

UBS chairman says bank isn't seeking partner
WIREHOUSES OCT 09, 2020
UBS chairman says bank isn't seeking partner

Axel Weber denies reports that UBS is planning to merge with a rival

Morgan Stanley fined $60 million over failed hardware oversight
WIREHOUSES OCT 08, 2020
Morgan Stanley fined $60 million over failed hardware oversight

The Office of the Comptroller of the Currency cited shortcomings related to the decommissioning of data centers for the firm's wealth management unit

New worry that ESG investing is bubble as bonds pass $1 trillion
RIA NEWS OCT 07, 2020
New worry that ESG investing is bubble as bonds pass $1 trillion

Another $450 billion green bonds expected for 2021 but one strategist contends ESG a passing investment fad

Wells Fargo chops more than 700 commercial banking jobs
PRACTICE MANAGEMENT OCT 07, 2020
Wells Fargo chops more than 700 commercial banking jobs

The bank is embarking on workforce reductions that could ultimately number in the tens of thousands

Bets mount on steeper Treasury yield curve
FIXED INCOME OCT 05, 2020
Bets mount on steeper Treasury yield curve

Steepener trades are often seen as bets on reflation; investors are also preparing for the possibility of bigger deficits if Democrats prevail in November

Fed approves Morgan Stanley acquisition of ETrade
REGULATION, LEGAL & COMPLIANCE OCT 01, 2020
Fed approves Morgan Stanley acquisition of ETrade

At the same time, Toronto-Dominion Bank’s acquisition of an ownership stake in the Charles Schwab Corp. was also approved

Schwab acquisition of TD to close Oct. 6
WIREHOUSES OCT 01, 2020
Schwab acquisition of TD to close Oct. 6

The Fed also signed off on Morgan Stanley's purchase of ETrade, which is expected to close Friday

JPMorgan pays $920 million to settle spoofing claims
REGULATION, LEGAL & COMPLIANCE SEP 29, 2020
JPMorgan pays $920 million to settle spoofing claims

Bank will pay the biggest monetary penalty ever imposed by the CFTC to settle claims it manipulated markets in metals futures and Treasuries

World needs better tools, data, standards for ESG investing
RIA NEWS SEP 29, 2020
World needs better tools, data, standards for ESG investing

OECD reports inconsistencies could undermine confidence in market