The industry-sponsored group that oversees stock brokers fined Merrill Lynch $500,000 Wednesday for failing to provide sales charge discounts to eligible customers on certain investments.
A New York financial adviser pleaded guilty to rigging bids for investments sold to local governments, the fifth person to admit participating in an industrywide conspiracy to profit at taxpayers' expense.
Tool will help ETF providers to focus their marketing and educational materials on the needs of advisers.
My colleagues in the business press lavish an extraordinary amount of space on the world's richest people,which is altogether fitting and proper, considering how much they can teach us about the important matters of life.
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said Wall Street is like a church that benefits society, then falters by operating a gambling venture on the side.
Morgan Stanley, owner of the world's largest brokerage, will pay $800,000 to settle regulatory claims that it didn't disclose research analysts' conflicts of interest to investors.
Just days after the financial-regulatory-reform law was signed, the Securities and Exchange Commission issued a request for public comment on a provision addressing the standard of care for investment advice.
UBS AG, the largest Swiss bank, will seek to reverse a ruling requiring it to pay a U.S. company for business lost when its funds were tied up during the collapse of the auction-rate securities market two years ago.
Citi Private Bank, the private-banking unit of Citigroup Inc., continues its aggressive recruiting from U.S. Trust and has now lured a total of 10 bankers from the Bank of America unit since the end of April.
U.S. Trust Corp., the private banking unit of Bank of America Corp., has hired five senior-level wealth management experts as part of the firm's bid to hire more than 200 advisers and bankers this year.
Federal regulators say it was too good to be true: A Detroit-area woman is accused of collecting more than $1 million from investors who were told they would earn at least 10 percent a month.
At least one group of financial advisers is hoping that the landmark financial-reform legislation will lead to more government oversight of the advice business.
Finra, whose rules-based approach to oversight of brokers is anathema to many financial advisers, could expand its jurisdiction as a result of the new Dodd-Frank Wall Street Reform and Consumer Protection Act
Groups argue the Harkin amendment would undermine the goal of strengthening the standard of care for investors.
It's usually very quiet in Washington in August. But over at the SEC, the late-summer calm has given way to a loud din as lobbyists battle over the standard of care for investors.
The second quarter opened up with high hopes and generally positive expectations for the remainder of the year.
Whether they admit to it or not, lots of fellow independent broker-dealers and probably thousands of registered reps are going to monitor how a new social media pilot progresses at Cambridge Investment Research Inc.
Berkshire Hathaway Inc., the company run by billionaire Warren Buffett, may have to set aside $8 billion in collateral for derivatives under proposed changes to U.S. financial regulations, a Barclays Capital analyst said.
In his latest letter to Berkshire Hathaway shareholders, Warren Buffett says directors and officers -- and not shareholders -- should take the hit for reckless investments.
Defined-contribution plans are adding self-directed brokerage accounts as a way of giving participants more choices even as some plans reduce the number of core investment options.
