Industry News

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Musk charged with $7.5M insider trading on Tesla stock
NEWS INDUSTRY NEWS MAY 31, 2024
Musk charged with $7.5M insider trading on Tesla stock

The CEO of the electric vehicle "breached his fiduciary duties" by trading on non-public company information, suit alleges.

By Bloomberg
SEC bars former advisor, crypto trader
NEWS ALTERNATIVES MAY 31, 2024
SEC bars former advisor, crypto trader

'Brokerage firms must broaden their horizons about what’s under scrutiny by regulators and what isn’t,' one compliance executive says.

By Bruce Kelly
Advisors adjust to higher-for-longer rate environment
NEWS INDUSTRY NEWS MAY 31, 2024
Advisors adjust to higher-for-longer rate environment

Wall Street has found its hit song for the summer of 2024. It’s called higher-for-longer.

By Gregg Greenberg
Association of African American Financial Advisors chairman ‘involuntarily removed’
NEWS INDUSTRY NEWS MAY 31, 2024
Association of African American Financial Advisors chairman ‘involuntarily removed’

Christian Nwasike responds to decision, saying they had 'divergent views on the future direction' of the organization.

By Josh Welsh
Mortgage delinquency rate up slightly, but is it cause for concern?
NEWS INDUSTRY NEWS MAY 31, 2024
Mortgage delinquency rate up slightly, but is it cause for concern?

There should have been a dip in March due to tax refunds, but this didn't happen.

By Steve Randall
Most parents have made a financial sacrifice to help their adult children
NEWS INDUSTRY NEWS MAY 31, 2024
Most parents have made a financial sacrifice to help their adult children

Emergency savings, debt payments, even retirement savings are at risk.

By Steve Randall
Global bonds fall again amid stubborn inflation outlook
NEWS INDUSTRY NEWS MAY 31, 2024
Global bonds fall again amid stubborn inflation outlook

Traders expect to be dealing with the challenge for some time yet.

By Bloomberg
Wall Street is prepping for Trump-Biden bumpy ride
NEWS INDUSTRY NEWS MAY 31, 2024
Wall Street is prepping for Trump-Biden bumpy ride

What will be the likely market impacts of the election?

By Bloomberg
Big banks are allocating more to private credit
NEWS INDUSTRY NEWS MAY 31, 2024
Big banks are allocating more to private credit

Goldman, Citi, Wells Fargo among those increasing allocations.

By Bloomberg
Trump guilty on all counts, finds jury at hush-money trial
NEWS INDUSTRY NEWS MAY 30, 2024
Trump guilty on all counts, finds jury at hush-money trial

The former US president faces up to four years in prison, creating a challenging path for his reelection campaign.

By Bloomberg
High-risk alts burn client in $1.2 million arbitration
NEWS ALTERNATIVES MAY 30, 2024
High-risk alts burn client in $1.2 million arbitration

'The positive thing about this award is that it is roughly 10 times the net out of pocket losses to the client,' says the client's attorney.

By Bruce Kelly
Realta Wealth taps industry vet John Barragan to COO role
NEWS INDUSTRY NEWS MAY 30, 2024
Realta Wealth taps industry vet John Barragan to COO role

The independent wealth platform’s newest leadership hire brings extensive experience from Kestra, Goldman Sachs, and Cetera.

By Leo Almazora
Morgan Stanley helped Musk conceal Twitter stock buying, suit says
NEWS INDUSTRY NEWS MAY 30, 2024
Morgan Stanley helped Musk conceal Twitter stock buying, suit says

Oklahoma pension fund alleges the "secret" scheme to consolidate ownership stakes led to almost $1.5M in commissions.

By Bloomberg
Graduates want a career in finance industry, happy to work with AI
NEWS INDUSTRY NEWS MAY 30, 2024
Graduates want a career in finance industry, happy to work with AI

CFA Institute study highlights attractiveness of working with wealth.

By Steve Randall
Investor who lost $1.5M uses AI platform to recover $100M for others
NEWS INDUSTRY NEWS MAY 30, 2024
Investor who lost $1.5M uses AI platform to recover $100M for others

Platform gets backing of experienced investors in $2M seed round.

By Steve Randall
Outsourced trading boosts investment performance for asset managers: State Street
NEWS INDUSTRY NEWS MAY 30, 2024
Outsourced trading boosts investment performance for asset managers: State Street

Report found widespread performance gains across North America, globally.

By Steve Randall
Record-breaking summer heat set to spark commodities volatility
NEWS INDUSTRY NEWS MAY 30, 2024
Record-breaking summer heat set to spark commodities volatility

From natural gas to soy, prices are already rising globally.

By Bloomberg
UBS appoints new US business leader, joint head of wealth
NEWS INDUSTRY NEWS MAY 30, 2024
UBS appoints new US business leader, joint head of wealth

Management shakeup sets up CEO succession plan.

By Bloomberg
Are US banks too exposed to CRE when REITs are considered?
NEWS INDUSTRY NEWS MAY 30, 2024
Are US banks too exposed to CRE when REITs are considered?

Study suggests regulators may not appreciate the risk.

By Bloomberg
Awaiting a verdict on Trump, market likely to say 'meh'
NEWS INDUSTRY NEWS MAY 29, 2024
Awaiting a verdict on Trump, market likely to say 'meh'

'Absent Trump being in jail, none of this stuff is going to matter,' says one advisor.

By Emile Hallez