NEW YORK — Sick and tired of complying with an increasingly complex regulatory framework, many financial advisers knowingly sidestep their firms’ compliance policies and sometimes show little regard for rules and regulations, according to a new survey of advisers and other financial services professionals.
Merrill Lynch & Co. has trimmed employees’ sick days from 40 to 10, according to an internal memo.
Ben Weston, chief of hedge fund development at Merrill Lynch & Co. Inc., has left the company.
Eaton Vance Corp. reported a 42% fall in profits for the<br>second quarter today.
Aon Corporation announced today that chief financial officer David P. Bolger will leave the Chicago-based insurance broker after the appointment of his successor.
JPMorgan Chase & Co. has launched 12 indexes comprising exchange-listed American Depositary Receipts and Global Depositary Receipts.
Euronext NV today reported a 4.4% profit loss during the first quarter, due to a reclassification of the company’s stake in LCH.Clearnet.
Merrill Lynch & Co. Inc. plans to reshuffle the leadership structure of its markets and investment banking operations, according to a Financial Times report.
Merrill Lynch & Co. Inc. is purchasing a 20% minority stake in a hedge fund with $8 billion in assets under management.
Other banks may follow Bank of America Corp.’s decision this month to cut mortgage clients’ borrowing costs drastically, including waiving the requirement for private mortgage insurance, industry observers say.
PHILADELPHIA — Distressed debt can be risky, but that hasn’t stopped investors from turning to it in search of extra yield, industry observers say.
Charles “Ed” Haldeman Jr. said that it’s “fine” with him if his soon-to-be bosses at Canada’s Power Financial Corp. want to replace him as chief executive of Putnam Investments.
Despite its pending acquisition by a unit of Power Financial Corp., Putnam Investments continues to face an uphill battle in its bid to regain the trust and confidence of financial advisers.
State-level budget pressures are fueling an investment bonanza for those firms with the resources and wherewithal to tap into a fast-developing market of infrastructure investments.
Now that the Financial Planning Association’s victory over fee-based brokerage accounts is cemented, some in the securities industry are wondering whether the group will take aim at other brokerage transactions that hinge upon a registered representative giving clients advice.
LOS ANGELES — Fueled by a flood of money from private-equity firms buying local businesses as well as a spectacular appreciation of real estate values, California’s Orange County has emerged from the shadows of neighboring Los Angeles as a wealth management powerhouse in its own right.
Bank of America Corp. has been sued for race discrimination by allegedly steering wealthy clients to white co-workers.
Bank of America appoints Moynihan and Sevilla-Sacasa to head a wealth team that incorporates U.S. Trust Corp.
John C. Whitehead said he is outraged by the excessive compensation given to Wall Street top execs.
Russia's customs service is suing the Bank of New York for $22 billion over alleged misdeeds dating from the 1990s, according to Russian news agencies.
