At regulator's conference, Herstein criticizes move to take oversight away from states; 'sovereign obligation'
Wells Fargo B-D aims to reward reps who bring in new business; no longer 'recruit or die'
Morgan Stanley (MS) defended its role in Facebook Inc. (FB)'s initial public offering after a Massachusetts regulator subpoenaed the bank over talks between an analyst and investors about the social media company's revenue outlook.
