The Department of Labor is considering extending an exemption that would allow Deutsche Bank to continue to manage U.S. retirement assets for at least another three years, according to a report by Bloomberg Law.
Because a unit of the bank was convicted of wire fraud in the U.K. in connection with a Libor-rigging scheme that also involved other major banks, Deutsche is prohibited from serving as a qualified professional asset manager, or QPAM, a designation essential to manage 401(k) and pension plans. It currently enjoys an exemption from that ban.
The exemption requires Deutsche Bank to adopt more stringent compliance procedures and submit to periodic audits of its activities by an independent auditor.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
