Bank of America to sell First Republic Bank to private equity investors for more than $1B
Bank of America Corp. said Wednesday it has agreed to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co., to a group of investors.
Finra bans rep over alleged insurance scam
David Steven Forman, a former rep with The Private Consulting Group Inc., has settled with Finra following allegations…
Insurers are upping VA withdrawal benefits
Generous withdrawal benefits for variable annuities — albeit with limits — continued their comeback in the third quarter, according to a report from Ernst & Young.
LPL Investment raises $470M in IPO
LPL Investment Holdings Inc., the brokerage and investment advisory firm owned by private equity firms TPG Capital and Hellman & Friedman LLC, raised $470 million in its initial public offering.
Goldman Sachs sued for alleged discrimination
The plaintiffs, H. Cristina Chen-Oster, a former vice president, Lisa Parisi, a former managing director, and Shanna Orlich, a former associate, seek class-action status to represent all female Goldman employees with those job titles.
Data theft puts LPL clients at risk
LPL Financial yet again has fallen prey to a technology blunder that placed private client information at risk.
Former fund executives stand to reap big payouts from LPL public offering
Two former chief executives of mutual fund companies that built their businesses on the direct-sold model are in the position to make money as a result of the pending LPL Investment Holdings Inc. initial public offering.
Proxy firms may feel pinch under DOL proposal
Institutional Shareholder Services Inc., the nation's largest proxy advisory firm, could be forced to revise its business plan if the Labor Department adopts a proposal to expand the definition of “fiduciary.”
Retirement agenda set to take a backseat in gridlocked Congress
The split in control of Congress means that legislative gridlock will shift the lead on pension issues to executive-branch agencies over next two years, pension industry lobbyists said.
Guidance expected on Roth rules
Federal regulators soon will issue eagerly sought guidance to aid employers that want to amend their 401(k) plans to allow participants to roll over account balances into a Roth 401(k) plan
