Wall Street executives said Wednesday they underestimated the severity of the 2008 financial crisis and made poor decisions, while also defending their bonus and compensation practices to a skeptical commission investigating what caused the collapse.
A senior House Democrat says the government didn't force Bank of America to take over Merrill Lynch and bank executives knew they had little chance of legally being able to back out of the deal.
A recent lawsuit concerning a failed investment in a life settlement has exposed a new area of regulatory uncertainty and potential liability for registered representatives and their firms.
Amid growing scrutiny of life settlements securitization, the Securities and Exchange Commission has created a task force to examine financial products, according to The Wall Street Journal.
Buzz is building among financial firms about arranging life settlement securitizations, but experts question the structured products' viability as an investment amid a lengthy list of risks and a limited track record of successful transactions.
The former operations director for Bernard Madoff Investment Securities was arrested Thursday to face conspiracy, securities fraud and tax charges.
After trimming the ranks of its brokerage force, Bank of America Corp. apparently wants to build up its force again — this time from the ground up.
MetLife Inc. on Monday projected fourth-quarter and 2010 operating earnings mostly above analyst estimates.
Three months after he joined the company, Andrew Sieg, head of retirement and philanthropic services at Bank of America/Merrill Lynch, has reorganized its retirement services group
Recruiters at competing firms are likely to reach out to bank brokers at Bank of America Investment Services Inc., according to industry observers.
Earnings outpacing market sentiment, analysis shows. Says one investment strategist: 'The recovery is real, it's V-shaped and it's got legs.'
Sizeable haul for the bank's CEO actually worked out to a 6% pay cut from the previous year
Naoki Matsuba set to take over the reins in the Japanese company's North American operations
Florida authorities have locked up Richard M. Incandela, on charges of selling insurance without a license and organized fraud exceeding $50,000, according to published reports.
With a nearly 30 percent jump in bank robberies last year when compared with 2008, banks in Colorado are being encouraged to report suspicious people entering their banks as a way to discourage would-be bank robbers.
The Labor Department is likely to issue new rules governing investment advice given to 401(k) plan participants by the end of this month, Assistant Labor Secretary Phyllis Borzi said today.
The father of modern portfolio theory plans to spend plenty of face time with advisers at 1st Global Capital
