Legal http://wealthmanagement.com/taxonomy/term/23641/more en U.S. SEC Targets Asset Manager Conflicts of Interest - Investigator http://wealthmanagement.com/industry/us-sec-targets-asset-manager-conflicts-interest-investigator <div class="field-byline"> Reuters </div> <div class="node-body article-body">The U.S. Securities and Exchange Commission is unearthing numerous examples of hidden conflicts of interest at asset management firms, and plans to file a series of cases to combat the problem, a top SEC investigator said Thursday.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/us-sec-targets-asset-manager-conflicts-interest-investigator" target="_blank">read more</a></p> http://wealthmanagement.com/industry/us-sec-targets-asset-manager-conflicts-interest-investigator#comments Industry Legal Regulation & Compliance Fri, 27 Feb 2015 14:13:00 +0000 794761 at http://wealthmanagement.com Copyright Chip Somodevilla, Getty Images Morgan Stanley to Pay $2.6 Billion to Settle Mortgage-Bond Claims http://wealthmanagement.com/wirehouse/morgan-stanley-pay-26-billion-settle-mortgage-bond-claims <div class="field-byline"> Reuters </div> <div class="node-body article-body">Morgan Stanley said it will pay $2.6 billion to the U.S. government to resolve potential claims stemming from the sale of mortgage bonds before the financial crisis, reducing its 2014 profit by more than half.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/wirehouse/morgan-stanley-pay-26-billion-settle-mortgage-bond-claims" target="_blank">read more</a></p> http://wealthmanagement.com/wirehouse/morgan-stanley-pay-26-billion-settle-mortgage-bond-claims#comments Legal Wirehouse Thu, 26 Feb 2015 14:10:00 +0000 793421 at http://wealthmanagement.com Ex-Barclays Brokers Can Keep Nearly $4 Million in Bonus Money - Panel http://wealthmanagement.com/industry/ex-barclays-brokers-can-keep-nearly-4-million-bonus-money-panel <div class="field-byline"> Reuters </div> <div class="node-body article-body">Two former Barclays stockbrokers can keep nearly $4 million in signing bonuses, an arbitration panel has ruled, handing down a rare rebuke of a controversial recruiting practice common among brokerage firms.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/ex-barclays-brokers-can-keep-nearly-4-million-bonus-money-panel" target="_blank">read more</a></p> http://wealthmanagement.com/industry/ex-barclays-brokers-can-keep-nearly-4-million-bonus-money-panel#comments Industry Legal Mon, 23 Feb 2015 13:45:00 +0000 788961 at http://wealthmanagement.com <p>Firms often offer generous signing bonuses to woo talent from rivals, but structure the bonuses as loans that are forgiven over time to discourage them from leaving too soon.</p> Copyright Spencer Platt, Getty Images Bank of America Chips Away at Brokerage Industry Truce http://wealthmanagement.com/wirehouse/bank-america-chips-away-brokerage-industry-truce <div class="field-byline"> Reuters </div> <div class="node-body article-body">For the last decade, Wall Street brokerages have had a pact not to sue brokers that leave their firms and try to take clients with them. Now Bank of America Merrill Lynch, one of the founding signers of the truce, is taking steps to erode the agreement, industry lawyers say.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/wirehouse/bank-america-chips-away-brokerage-industry-truce" target="_blank">read more</a></p> http://wealthmanagement.com/wirehouse/bank-america-chips-away-brokerage-industry-truce#comments Industry Legal Wirehouse Mon, 23 Feb 2015 12:00:00 +0000 790001 at http://wealthmanagement.com US SEC's Gallagher Takes Aim at White House Memo on Fiduciary Rule http://wealthmanagement.com/industry/us-secs-gallagher-takes-aim-white-house-memo-fiduciary-rule <div class="field-byline"> Reuters </div> <div class="node-body article-body">A top U.S. securities regulator accused the White House on Friday of circulating baseless "propaganda" to rally support for a proposed rule he said would unnecessarily tighten limits on investment advice that Wall Street brokers can offer on retirement plans.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/us-secs-gallagher-takes-aim-white-house-memo-fiduciary-rule" target="_blank">read more</a></p> http://wealthmanagement.com/industry/us-secs-gallagher-takes-aim-white-house-memo-fiduciary-rule#comments Industry Legal Fri, 20 Feb 2015 18:03:00 +0000 788721 at http://wealthmanagement.com <p>Securities and Exchange Commission Republican member Daniel Gallagher</p> U.S. SEC Investor Advocate Raps Congress Over Financial Data Bill http://wealthmanagement.com/legal/us-sec-investor-advocate-raps-congress-over-financial-data-bill <div class="field-byline"> Reuters </div> <div class="node-body article-body">The U.S. Securities and Exchange Commission's top investor watchdog blasted Congress on Friday over a bill that would exempt a broad swath of companies from rules requiring them to file their financial statements in a machine-readable format.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/us-sec-investor-advocate-raps-congress-over-financial-data-bill" target="_blank">read more</a></p> http://wealthmanagement.com/legal/us-sec-investor-advocate-raps-congress-over-financial-data-bill#comments Legal Fri, 20 Feb 2015 14:50:00 +0000 788461 at http://wealthmanagement.com Morgan Stanley Breach Probe Shifts to Hacker from Fired Employee - WSJ http://wealthmanagement.com/wirehouse/morgan-stanley-breach-probe-shifts-hacker-fired-employee-wsj <div class="field-byline"> Reuters </div> <div class="node-body article-body">U.S. authorities are investigating whether a hacker is behind the online publication of a cache of Morgan Stanley's client data and not the financial adviser who was fired in connection with the breach, the Wall Street Journal reported, citing people familiar with the matter.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/wirehouse/morgan-stanley-breach-probe-shifts-hacker-fired-employee-wsj" target="_blank">read more</a></p> http://wealthmanagement.com/wirehouse/morgan-stanley-breach-probe-shifts-hacker-fired-employee-wsj#comments Legal Wirehouse Thu, 19 Feb 2015 14:46:00 +0000 786631 at http://wealthmanagement.com <p>A data breach last month led to the account information of 350,000 Morgan Stanley clients to be stolen.</p> Copyright Spencer Platt, Getty Images Interactive Brokers Must Pay $667,000 for Portfolio Selloff Mishap - Panel http://wealthmanagement.com/legal/interactive-brokers-must-pay-667000-portfolio-selloff-mishap-panel <div class="field-byline"> Reuters </div> <div class="node-body article-body">Interactive Brokers LLC must pay $667,000 to a hedge fund after an arbitration panel found the discount brokerage firm's system for selling securities from clients' accounts to pay margin debt had backfired leaving the fund with hefty losses.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/interactive-brokers-must-pay-667000-portfolio-selloff-mishap-panel" target="_blank">read more</a></p> http://wealthmanagement.com/legal/interactive-brokers-must-pay-667000-portfolio-selloff-mishap-panel#comments Legal Wed, 18 Feb 2015 20:14:00 +0000 786351 at http://wealthmanagement.com Charles Schwab Settles NY Lawsuit Over Auction-Rate Debt http://wealthmanagement.com/legal/charles-schwab-settles-ny-lawsuit-over-auction-rate-debt <div class="field-byline"> Reuters </div> <div class="node-body article-body">Charles Schwab Corp has agreed to settle a 2009 lawsuit in which New York's attorney general accused the discount brokerage of fraud in the sale and marketing to investors of auction-rate securities that became illiquid.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/charles-schwab-settles-ny-lawsuit-over-auction-rate-debt" target="_blank">read more</a></p> http://wealthmanagement.com/legal/charles-schwab-settles-ny-lawsuit-over-auction-rate-debt#comments Legal RIAs Charles Schwab Wed, 18 Feb 2015 14:09:00 +0000 784941 at http://wealthmanagement.com <p>The lawsuit against Charles Schwab, (founder Chuck Schwab shown above) was originally filed by Andrew Cuomo when he was New York State Attorney General.</p> Copyright Justin Sullivan, Getty Images Pardon the Disruption http://wealthmanagement.com/blog/pardon-disruption <div class="node-body blog-body">A new study by TD Ameritrade found that two-thirds of U.S. adults have experienced an event that seriously disrupted their long-term saving and retirement plans. Most common: losing a job. </div> <div class="field-content-focus"> <span>Content Classification:&nbsp;</span> Curated </div> <div class="og_rss_groups"><ul class="links"><li class="og_links first last"><a href="/blog/daily-brief">The Daily Brief</a></li> </ul></div><p><a href="http://wealthmanagement.com/blog/pardon-disruption" target="_blank">read more</a></p> http://wealthmanagement.com/blog/pardon-disruption#comments Legal Blogs ETFs Retirement Planning The Daily Brief Wed, 18 Feb 2015 10:00:00 +0000 784741 at http://wealthmanagement.com <p><em>Aleksandr Frolov/iStock/Thinkstock</em></p>