Broker-Dealers

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Topic

Brokerage platforms falter during GameStop surge

The brokers with outages or problems include the most prominent names in the discount and online brokerage industry, including Fidelity, the Charles Schwab Corp., TD Ameritrade, ETrade Financial Corp. and Robinhood.

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Advisers ponder systemic risks to markets as GameStop stock spins out of control

A social media platform and ready access to mobile trading apps have helped push an otherwise obscure, money-losing videogame retail business to a $21 billion market cap.

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It’s not just GameStop – trading frenzy spreads to many other shorted stocks

Since the GameStop stock options frenzy that quietly began early this month and exploded over the past week, some traders have followed by investing in other shorted stocks, with prices surging far past the returns seen in the indexes that include them.

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UBS adviser count dips as wealth management results roar

Record profitability in wealth management in the Americas was driven by growth in loans, separately managed accounts and adviser productivity, the company said.

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UBS team managing $245 million goes indie with LPL

Brendan Biruk and Dan Rattigan form Washington Crossing Financial Group in Washington Crossing, Pennsylvania.

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Finra bars former Merrill rep accused of churning

Charles Kenahan had already been barred by the state of New Hampshire in December.

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National Securities received $5.5 million PPP loan last year

The loan program was aimed at buoying businesses with less than 500 employees; while National Securities surpassed that number of reps and advisers, those were not employees, but rather independent contractors.

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Duo managing $473 million at Morgan Stanley joins Janney

Scott Phelan, Kevin Myers and an assistant switch firms in Atlanta.

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Morgan Stanley’s Gorman now best-paid bank CEO, topping Dimon

Morgan Stanley boosted its chief executive’s pay 22% to $33 million for 2020, when the Wall Street bank posted its third consecutive year of record earnings and announced two large deals.

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Finra examines reps taking PPP loans for potential violations

Finra is concerned that some reps are receiving federal financial support connected to work they’re doing outside of their brokerage jobs. Its exams are not part of a sweep; they target individual reps who received loans.