In the wake of last year's market meltdown and the ensuing spate of financial scandals, many advisory firms are taking a second look at their compliance technology.
In the wake of a decision last month by LPL to bring in-house the clearing function at three subsidiary broker-dealers, about 200 financial advisers at those firms have moved to other firms or are planning to do so.
Legitimate offshore banking by wealthy Americans may be the next casualty of the UBS AG tax evasion case.
Retirement account holders at the Principal Financial Group Inc. can now receive weekly text messages outlining their 401(k) balances.
Denver Nuggets basketball star Carmelo Anthony filed a lawsuit in federal court last week alleging that his former financial and business adviser transferred more than $2 million from his accounts without his knowledge or consent.
The registered investment advisory firm Curian Capital this week launched a platform that it is classifying as a unified-managed-household solution.
American International Group Inc. yesterday dismissed as “without merit” a lawsuit filed by two investors who claim the insurer should have covered the losses they suffered because they invested with Bernard L. Madoff.
A securities arbitration claim of $5 million has been filed against Merrill Lynch by a Freeport, Bahamas couple who say the preferred financial company stocks the company sold them were unsuitable, according to the law firm representing the couple.
Two law firms are investigating potential claims on behalf of retail investors who purchased leveraged, inverse and leveraged-inverse exchange traded funds and held them in their brokerage accounts for longer than one day.
Florida Atlantic University's College of Business yesterday stripped life insurance guru Barry Kaye's name from the school, according to published reports.
Hold onto your books. Because Management is not what is used to be--Or will be.
Boston's Fidelity Investments spent $940,000 — both directly and via third-party firms – during the second quarter to lobby Washington lawmakers on financial regulatory reform, retirement, taxes and other issues, according to recent filings with the Office of the Clerk of the House of Representatives.
Microsoft's latest operating system will become available to advisers and the rest of the world Oct. 22. The system will grace the shelves of retailers in all its shrink-wrapped glory, but most folks will be buying it pre-installed on new desktop or laptop PCs. Experts believe that the buy-it-installed route is the way most users,
The Financial Planning Association has urged the Securities and Exchange Commission to restrict the Financial Industry Regulatory Authority Inc.'s enforcement power.
A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which the Securities and Exchange Commission sued last month for fraud.
A retired Michigan couple has filed a securities arbitration claim against Merrill Lynch & Co. Inc. alleging that improper sales practices led to a loss of $650,000 — the latest example of what some securities lawyers see as a rising tide of claims involving the preferred stock of financial firms.
I like to read important proposed legislation. Actually, I don't so much like it — the text is often mind-numbing — but I make myself do it because I think that it is important.
History is rife with examples of adverse, unintended consequences resulting from well-intentioned lawmaking acting in the face of a crisis.
By definition, prudence involves the exercise of skill and good judgment in the use of resources. It is a core fiduciary duty.
The Department of the Treasury last Tuesday sent to Capitol Hill the final piece of its financial regulatory reform legislation, a 115-page bill aimed at reforming regulation of over-the-counter derivatives.
