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Investment manager who bilked $43 million from ex-Red Wings star Sergei Fedorov convicted
Breakfast with Benjamin: Investment manager Joseph Zada could face 20 years in prison after being convicted for bilking ex-Detroit Red Wings star Sergei Fedorov (pictured) out of $43 million.
With Congress back Tuesday, get ready for a fiduciary fight
A September hearing and possible riders attached to a spending bill could thwart DOL's efforts.
Finra arbitration panel orders UBS to pay for damages over Puerto Rico bond losses
Finra arbitration panel ruled in favor of three investors who claimed their accounts were over-concentrated in the bonds.
Pension giant CalSTRS ponders dumping $20B in stocks and bonds in favor of alt strategies
Breakfast with Benjamin: CalSTRS, the country's second-largest pension fund, considers moving $20 billion out of traditional investments and into alternatives.
UBS agrees to settle hedge fund’s lawsuit over asset-backed securities
Pursuit Partners sued the wirehouse in 2008, accusing it of selling it $40.5 million of collateralized debt obligations that some of the bank's employees referred to as “vomit” and “crap” in e-mails.
Broker-turned-congressman French Hill brings adviser skills to Capitol Hill
Background makes Arkansas legislator, no fan of DOL fiduciary proposal, a go-to source on financial services issues.
SEC commissioners push for bond transparency in wake of Edward Jones settlement
Regulator says Finra and MSRB should issue rules 'requiring the disclosure of mark-ups and mark-downs.'
Bipartisan backing to halt DOL fiduciary rule nowhere in sight
An attempt to get Democratic buy-in on legislation that would force the DOL to hold off on finalizing its rule until the SEC acts died on the vine at a House hearing.
Congresswoman hopes hearing will build momentum against DOL fiduciary rule
Two House subcommittees will hold a joint hearing Thursday focusing in part on a bill written by Rep. Ann Wagner to thwart efforts to raise investment advice standards for retirement accounts.
Regulator seeks to enlist advisers in war on money laundering
Compliance could be costly, especially for small advisory firms.
Broker groups step up political spending early in election cycle
Contributions from investment advisers, however, slow down.
BlackRock, Vanguard, Fidelity push back on DOL fiduciary
BlackRock says rule favors index funds, Vanguard finds 'serious problems' and Fidelity wants proposal simplified.
That awkward moment when the Fed realizes it can’t raise interest rates
Breakfast with Benjamin: William Dudley, president of the New York Fed, says delaying a rate hike until 2016 'will be awkward.'
Morgan Stanley hit with $20M whistleblower suit from ex-brokers
Married brokers claim they were retaliated against after reporting alleged illegal sales tactics at the firm's midtown Manhattan office.
Stockbroker pleads guilty to stealing $6 million in Ponzi scheme
Claimed funds were invested conservatively but he was pursuing risky day-trading strategy.
Wells Fargo fined $1.5 million for AML failures
The wirehouse failed to comply with anti-money-laundering requirements by not properly vetting some 220,000 new client accounts over a nine-year period, Finra charged.
Citadel, big stock trading firm, seeks bigger influence in Washington
Privately held firm run by hedge fund manager Ken Griffin is speaking up to regulators and sometimes disagreeing with other market players.
Gloom overshadows Wall Street, but some economists still see a September rate hike
Breakfast with Benjamin: Despite the mood on Wall Street getting downright gloomy, some economists still think the Fed will raise interest rates next month.
Finra sweep homes in on conflicts in broker pay
The regulator is examining a broad range of possible conflicts, from production incentives and mutual fund fees to recruiting bonuses.
As the Labor Department moves closer to a fiduciary standard, rhetoric reaches fever pitch
The department's recently completed four-day marathon of hearings featured the usual suspects trotting out the usual arguments — and self-funded studies — for or against the rule.
