UBS top brass sent out a blitzkrieg of reassurances to its prized financial advisors Monday to keep them in their seats and get them to reach out to potentially nervous clients. The effort follows the double whammy of...
Merrill Lynch’s John Thiel announced in an internal memo Wednesday plans to shake up leadership in the US wealth management and private banking divisions of the firm. The news comes just two weeks after Bank of...
The Department of Labor announced Monday that it would reproprose its rule on the application of the fiduciary standard to retirement accounts. The announcement came after House Financial Services Committee ranking...
SEC Chairman Mary Schapiro said Thursday that legislation introduced by Republicans to restructure the agency and its rulemaking process would threaten the agency’s ability to write and enforce rules effectively...
It’s impossible to know what the sum of the day’s testimonies, questions and comments will lead to, especially considering that whatever bill emerges would need to also pass a Democrat-controlled Senate...
The House proposed draft legislation Thursday that would allow one or more SROs to oversee all investment advisers. The bill was trotted out by House Financial Services Committee Chairman Spencer Bacchus in advance of...
Updated at 10:47 a.m. Bank of America gave the heave-ho to Sallie Krawcheck last night as part of a management shake-up. Rumors abound about why she was ousted, but most agree it means BofA has no plans to spin off...
