Reverse convertibles boomerang on unsuspecting clients; SEC examining brokers' fees
The Charles Schwab Corp. has been hit with another lawsuit claiming that its Total Bond Market Fund, which was represented as tracking the Lehman Brothers U.S. Aggregate Bond Index, loaded up with mortgage-backed securities prior to the financial crisis.
Modern Bank NA, a lender to the wealthy where former football quarterback Joe Montana is vice chairman, hired Citigroup Inc. veteran Damian Kozlowski to lead a turnaround after almost $30 million of losses in five years.
Citigroup Inc. Chief Executive Officer Vikram Pandit, who for the past two years has championed the U.S. bank's “globality,” may be getting a new mantra: locality.
TD Ameritrade Institutional has launched a unified managed account platform that is designed to give the firm's advisers a wider selection of money managers.
The Texas State Securities Board yesterday appointed Benette L. Zivley as the next Texas securities commissioner.
Instead of fighting with advisers over the estimated $1.5 trillion in 401(k) rollover assets, record keepers may want to work with them.
The prospect of Finra regulation for hedge funds and other money managers is scaring them enough that they are offering to open their wallets to help the SEC expand regulation of their industry.
Company says that it can be an advantage when it comes to recruiting
United Capital Financial Partners Inc., which has been deploying capital raised from Bessemer Venture Partners and Grail Partners LLC to build a nationwide fee-based advisory network, has purchased Dunn Hogerty Investment Consulting Inc., an independent-brokerage practice in Fort Collins, Colo.
Like many aspects of the financial-regulatory-reform legislation that became law July 21, the provision that increases the threshold for state regulation of investment advisers doesn't go into effect for another year.
Joseph Duran, the roll-up firm's CEO, thinks he has the right plan for extracting value from a disparate group of wealth managers
FPC disappointed that Senate Banking Committee chairman's revised legislation failed to extend fiduciary standard to brokers
Firm's technical analysis shows market headed for a tailspin; coming down from 'drug known as quantitative easing'
To avoid future panics in money market funds, the mutual fund industry is calling on federal regulators to force broker-dealers to disclose information about their money fund clients.
It's been slow in coming, but the mutual fund industry is finally beginning to offer specifics about the type of backstop it wants to set up for money market funds.
Once, big firms battled other big firms for the best advisory talent. Now, smaller firms are nipping at their heels as well.
Then: Brokerage commissions for trades were high with a client routinely paying more than $1,000 for a large equity transaction.
Some of the broker-dealers that sold allegedly fraudulent private placements appear to have allowed their net-capital positions to fall dangerously low, a situation that could threaten their existence if they have to pay large legal claims.
The liquidating trustee of Provident Royalties' private placements is hoping to recover $285 million in claims and commissions from B-Ds that sold the busted investments
