Results for "clearing firms"
Displaying 91 results
October 7, 2009
Officials for Penson Financial Services Inc. said that a video circulating on the Internet of one of its traders engaging in an apparent naked short sale is a fraud that unfairly accuses the firm of violating Securities and Exchange Commission...
September 27, 2009
Fidelity Investments said this morning it is expanding its clearing business into Canada, with the intention of serving U.S. broker-dealers looking for a toehold in the market, while also targeting Canadian broker-dealers. U.S. clearing firms...
August 23, 2009
In the wake of a decision last month by LPL to bring in-house the clearing function at three subsidiary broker-dealers, about 200 financial advisers at those firms have moved to other firms or are planning to do so. Some 1,700 advisers at the...
August 11, 2009
A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which was sued last month by the Securities and Exchange Commission for fraud....
July 12, 2009
S THEIR BROKER-DEALER CLIENTS STRUGGLE and their own revenue drops, big clearing firms are targeting new albeit less profitable lines of business and reassuring clients of their financial strength by leveraging the brand names of their...
July 12, 2009
When Ben Marks set up shop as an independent registered investment adviser in November, he wasn't ready to give up the commissions that helped support him for more than a quarter century at large brokerage firms. Even though nearly 70% of his...
July 12, 2009
Like businesses across the financial services industry, clearing firms are feeling the pressure and the strain from the historic market downturn. It is a difficult and competitive business environment for the firms, which are key partners to...
July 2, 2009
Another clearing firm bites the dust. Emmet A. Larkin Co. Inc. last month quietly shut down its back-office and clearing operations. Larkin, which is based in San Francisco, had a “last trade date” of June 16, according to a notice published...
June 25, 2009
In a move that could create a price war among custodians of registered investment advisers assets, Charles Schwab Corp. said today it will waive commissions on electronic equity trades and reimburse account-transfer fees to new clients of...
June 14, 2009
Executives of Pershing, the largest provider of clearing services to broker-dealers, spent much of their energy at the firm's annual Insite conference trying to persuade clients to open their brokerage doors to fee-based registered investment...
March 12, 2009
The Charles Schwab Corp., under fire from some investment advisers for abruptly ending custody of most alternative assets, said it is modifying the policy but not abandoning it. After talking to advisers since the policy was announced less than...
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