Results for "bank of new york mellon corp"

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New annuities starting to address RMDs

April 1, 2019

Allianz Life Insurance Co. of North America is launching an indexed annuity geared toward clients 70½ and older who don't need the money that the government requires they withdraw each year from retirement accounts in the form of required minimum...

Wells Fargo CEO Tim Sloan could be hard to oust — here's why

February 22, 2019

Wells Fargo & Co.'s top critic makes it sound so easy. Sen. Elizabeth Warren has made her view clear — again and again — that the bank can't resolve its scandals until it names an untainted replacement for Chief Executive Officer Tim Sloan....

Muni-bond funds return to Puerto Rico

January 31, 2019

Traditional bond buyers are going back to Puerto Rico. After shunning the U.S. territory for much of the past six years, municipal-bond mutual funds are again buying the government's debt as it recovers from the 2017 hurricane and inches closer...

Fidelity to launch bitcoin custody service in March

January 29, 2019

Fidelity Investments is targeting a March launch date for its bitcoin custody service, according to three people with knowledge of the matter, as the mutual-fund giant moves forward with a plan that could help ease fears of trading cryptocurrencies....

Wall Street could be facing fewer fines in 2019 as lone SEC Democrat leaves

December 19, 2018

For Wall Street banks and other companies accused of malfeasance, the risk of getting slapped with a big fine by the U.S. Securities and Exchange Commission will soon drop significantly. That's because Kara Stein, the SEC's lone Democratic commissioner,...

Vestwell and BNY Mellon partner on 401(k) plans, auto-IRAs

December 5, 2018

Bank of New York Mellon Corp. and robo-adviser Vestwell Holdings Inc. have inked a deal to partner on workplace retirement programs such as 401(k) plans and auto-IRAs. Under the partnership, Vestwell will serve as the technology backbone underpinning...

U.S. banks continue to slash exposure to muni-bonds made less valuable by tax cuts

August 27, 2018

Some of the biggest U.S. banks have continued to slash their exposure to state and city debt since the federal government cut corporate tax rates, leaving the securities less attractive to the companies. JPMorgan Chase & Co., State Street Corp.,...

Court ruling may limit New York's powerful anti-fraud weapon

June 13, 2018

New York's powerful anti-fraud weapon known as the Martin Act was crimped by the state's highest court, which scaled back what was an $11 billion lawsuit against Credit Suisse Group AG over mortgage-securities practices in the run-up to the...

Blackstone woos wealthy with tax-free hedge fund

May 29, 2018

Blackstone Group has an enticing pitch for the ultra wealthy: Invest in hedge funds and avoid paying taxes forever. The private-equity firm's Lombard International is leading the charge to promote exclusive insurance vehicles that can contain...

Senate votes to roll back parts of Dodd-Frank

March 15, 2018

The U.S. Senate passed legislation that would ease constraints on regional and community banks while mostly snubbing Wall Street, giving the finance industry its best chance in years of rolling back rules adopted in the wake of the 2008 crisis....

Wall Street doesn't get much relief in Dodd-Frank reboot

March 5, 2018

The U.S. Senate is expected to approve a sweeping revamp of financial rules this week. Of all the surprises that entails — about a dozen Democrats signing on, Republicans leaving a lot of the much-maligned Dodd-Frank legislation intact —...

DOL fiduciary rule, along with two other regs, could be a boon for ETFs

October 12, 2017

Three rules will make exchange-traded funds more accessible to new types of investors. In the U.S., the fiduciary duty and new insurance guidelines will enable retirement savers and insurers to raise their exposure to ETFs. In Europe, the Markets...

Custodians help advisers navigate DOL fiduciary rule

August 7, 2016

Custodians have morphed into consultants for registered investment advisory firms, navigating them through an increasingly complex regulatory landscape. Chief among new regulations financial advisers have to conform to is the Labor Department's...

After record year, Pershing Advisor Solutions expects to add up to $15B in new assets in 2016

June 9, 2016

Pershing Advisor Solutions attracted $19 billion in assets under management in 2015, as the custodian for advisers and family offices posted its best year since its founding nearly 10 years ago. While 2016 is likely to fall short of that high...

Pershing expands its digital advice with NextCapital partnership

February 23, 2016

Pershing LLC has partnered with NextCapital, an adviser-facing robo platform, to be its first custodian. This time, however, the robo has chosen Pershing as the custodian in what Rob Foregger, co-founder of NextCapital, said is the company's...

Pershing names Hardwick COO as Dolly steps into CEO role

February 10, 2016

Pershing has named Lori Hardwick chief operating officer of the Bank of New York Mellon Corp.-owned brokerage and custody services business. Ms. Hardwick is joining Pershing from Envestnet Inc., a wealth management technology company, and will...

LPL's Casady could be on the hot seat

October 1, 2015

Now that activist hedge fund investor Marcato Capital Management has taken a 6.3% equity stake in LPL Financial Holdings Inc., chairman and chief executive Mark Casady is facing a challenge few executives would relish. Marcato could push for...

LPL faces reckoning from activist investor

September 25, 2015

LPL Financial Holdings Inc. could be in for a fight as it finds itself the target of an activist investor with a history of pushing for major reforms. Marcato Capital Management, led by Richard McGuire, disclosed this week that it had accumulated...

Massachusetts' Galvin investigates fund pricing glitches

September 4, 2015

Massachusetts' top securities cop is investigating the failure of an accounting platform that he said has delayed correct pricing for billions of dollars in mutual funds and ETFs. Secretary of the Commonwealth William F. Galvin on Friday said...

Custodians try to entice breakaways with substantial perks

August 9, 2015

As larger teams move into the registered investment adviser channel, the major custodians are getting more creative and adding some sweeteners to entice big breakaway outfits. Looking to differentiate themselves by more than just their ability...

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