Just months before his now-infamous Ponzi scheme collapsed, Bernie Madoff snookered a Merrill Lynch adviser who was attempting to perform due diligence on him for a foundation that serves the elderly, according to a lawsuit filed in federal court in Florida last week.
Hong Kong regulators on Monday banned a former banker at one of Asia's top stock brokerages from the territory's financial industry for life after he was jailed for insider trading.
The Department of the Treasury sent the final piece of its financial regulatory reform legislation to Capitol Hill , a 115-page bill aimed at reforming regulation of over-the-counter derivatives.
LPL Investment Holdings Inc. saw an 8.9% increase in its second-quarter profits, mostly on the back of cost cutting and the recent improvements in market conditions.
The number of advisers moving from one wirehouse to another reached a nine-month low last month, according to data compiled by the Discovery-RR Database.
ING Groep NV, the Amsterdam, Netherlands, banking and insurance company, returned to profitability in the second quarter, earning £229 million ($325.8 million).
The Commerce Department says the deficit rose 4 percent to $27 billion, from May's $26 billion. The May imbalance had been the lowest deficit in nearly a decade.
As Sallie Krawcheck takes charge of Merrill Lynch's retail-brokerage firm, it is priming the pump to recruit reps of all stripes — not just the jumbo producers so coveted on Wall Street.
A more upbeat Federal Reserve reassured investors that they've been making the right bets.
The U.S. and Swiss governments have reached an out-of-court settlement in the tax evasion case involving the Internal Revenue Service's request that UBS AG turn over the identities of 52,000 Americans who have accounts with the bank that may have been used to avoid paying U.S. taxes.
Balances in health savings accounts increased slightly in the first quarter from fourth-quarter-2008 levels, according to data from Canopy Financial Inc.
The Labor Department says productivity, the amount of output per hour of work, rose at an annual rate of 6.4 percent in the April-June quarter.
The former chief financial officer for Bernard Madoff pleaded guilty Tuesday to conspiracy, admitting to helping Madoff carry out a massive fraud that cost thousands of people billions of dollars by lying to investors and testifying falsely when it seemed the fraud might be discovered.
The Securities and Exchange Commission has taken the unusual step of opposing what a court-appointed receiver is doing in the massive Ponzi case that involves companies owned by Robert Allen Stanford.
The Municipal Securities Rulemaking Board today proposed new rules aimed at ensuring that municipal bond underwriters honor issuers' wishes to preserve retail investors' access to new bond issues < http://www.msrb.org/msrb1/whatsnew/2009-47.asp>.
A retired Michigan couple has filed a securities arbitration claim against Merrill Lynch & Co. Inc. for sales practices that allegedly led to a loss of $650,000.
Insurance carriers and producer groups are balking at a regulatory proposal that would curb commissions for agents and increase the suitability duties of insurance companies.
A former member of the National Economic Council under President Bush has launched a boutique investment advisory firm, according to published reports.
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 was sued last month by the Securities and Exchange Commission for fraud.
