The Securities and Exchange Commission has proposed eliminating the 12(b)-1 label, instead requiring fund firms to disclose 'marketing and service fees.' Those charges would be capped at 25 basis points.
On the heels of completing the reorganization of its fund group, Wells Fargo Funds Management LLC is setting its sights on product development and is looking specifically at retirement income products.
It seems these days that half the headlines in the financial media fear a double-dip recession, as do half the conversations on Wall Street.
The $550 million penalty may be a record, but some industry watchers say the firm got off light in its settlement with the SEC.
Review reveals internal marketing materials drew regulator's attention; this year, sales to seniors, private placements on the radar
The deal adds about 100 Ridge clients to Penson's base of 297 brokerage firms, making it the second largest correspondent clearing firm in the securities industry.
Bill Gross, who runs the world's biggest mutual fund, has a confession.
When it comes to controlling client assets, LPL Investment Holdings Inc.'s recent IPO registration offers clear proof that the remaining four wirehouse broker-dealers still dwarf the more diverse galaxy of independent broker-dealers.
LPL Investment Holdings Inc. today said it has sealed the deal with the executive who has overseen the company's growth and its march to an IPO.
Penson Worldwide Inc. said that it expects its U.S. securities-clearing subsidiary, Penson Financial Services Inc., to begin serving accounts of Ridge Clearing and Outsourcing Solutions Inc. on or about June 25.
Selling away is one area where Finra is likely to bring more cases, said Jim Shorris, executive director of enforcement at the regulator
How could a jury convict three ex-traders for selling, and three former executives of a day-trading firm for buying, real-time access to the firm's internal intercoms?
A former broker at Merrill Lynch & Co. and Citigroup Inc. convicted of selling access to his brokerages' internal “squawk boxes” asked a judge to throw out his conviction and others because prosecutors hid evidence of their innocence.
As a new crop of money managers and investment banks enters the hot market of exchange-traded funds, the challenge already has proved too much for some in a sector where scale is key.
Wells Fargo Private Bank said that it has expanded its Elder Services program to the East Coast through its acquisition of Wachovia Securities LLC.
The market pullback in the second quarter took its toll on the global wealth management sector of Morgan Stanley Smith Barney LLC, which today reported a 26% decline in pretax income from the first three months of the year to $207 million.
The Securities and Exchange Commission on Wednesday is expected to propose revamping the structure of 12(b)-1 fees, according to people familiar with the situation.
A full decade after first proposing to revamp form ADV Part 2, the Securities and Exchange Commission is set to approve revisions to this key disclosure document this week
'We expect to move forward quickly,' says Robert Cook, director of the division of trading and markets'; single standard of care ahead?
