U.S. authorities in Puerto Rico investigating allegations over advice to borrow money to make investments.
Firm looks to deepen its reach in the ultrahigh-net-worth market segment with plans to double head count in Washington by year's end.
With improvements in technology and compensation models, independent firms are narrowing the gap in the competition for the biggest talent on Wall Street.
Some branch managers are telling prospects that they should consider moving now before Finra's looming bonus disclosure rule goes into effect.
After several months of deliberations, Finra has expanded its pool of arbitrators and is ready to move forward with the hundreds of complaints related to collapses in Puerto Rico bond funds. That doesn't necessarily mean smooth sailing.
In confidential meeting, firms' attorneys oppose allowing arbitration cases to be heard in Southeast venues.
Finra fines Merrill Lynch $8 million for failing to waive mutual fund sales charges to certain charities and retirement accounts and requires the wirehouse to pay back $89 million in restitution.
Brokerage seeks payback of more than $3.6 million, claiming ex-broker Darin DeMizio “intentionally defrauded Morgan Stanley and concealed his fraud” while working at the firm.
Wells Fargo is testing new models that would pay on a salary plus commission basis in effort to attract Millennials
At its board meeting, Finra approved background checks for brokers and plans to consider requiring new information such as exam scores on BrokerCheck.
The team, who previously managed $285 million in assets, join Merrill in New York.
N.Y. Supreme Court justice dismisses a complaint from three former trainees who claimed they were given a book called “Seducing the Boys' Club” and ultimately fired out of bias.
The rich are getting richer, and that's good news for banks' wealth management units. But for how long?
<i>Breakfast with Benjamin:</i> Brokers pouncing on 401(k) biz. Plus: The Clintons dodge the estate taxes they support. The Fed wants to add exit fees to bond funds, U.S. banks on the edge of new funding rules, Congress mulls investor confidence on your dime, El-Erian sides with the IMF, and merger mania is alive and well.
Nick Schorsch has been snapping up B-Ds with the fervor of Carrie Bradshaw from “Sex and the City” chasing down her next pair of Manolo Blahniks. But with J.P. Turner, is the firm's stock-jockey history a problem or did Nick buy a gem at downtown prices?
Both SIFMA and FSI cautious about Finra proposal to strengthen its database.
Asset management fees hit a record $1.5 billion, up 21% from the first quarter last year; assets on Merrill One surge.
Comment letters show independent B-Ds want no part of it, while wirehouses are all for it.
