Wealth Management industry news covering the financial markets, trends and wealth professionals.
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Congress is moving forward on adding an amendment to the three-decade-old Employee Retirement Income Security Act (ERISA) that could have a significant impact on the way registered representatives do business.
A federal judge barred for life a former Prudential Securities broker for failing to respond to an order instituting proceedings (OIP) issued by the SEC over fraud charges.
In his first step as head of retail brokerage at Morgan Stanley, James Gorman has streamlined the firm’s regional office structure -- reducing regional offices to four from eight and cutting out one layer of management. To head up the new...
The SEC hit Bear Stearns with a $250 million penalty for securities fraud for facilitating market-timing and late trading for certain institutional customers to the detriment of others.
Merrill Lynch agreed Monday to pay an SEC fine of $2.5 million to settle charges that it had impeded a government investigation into its business practices by dragging its feet on turning over email records.
The market for insurance protection against kidnapping and wildfires is limited. Yet, when you throw in coverage against employee lawsuits, identity theft and other high-end risks advisors may have something different to offer their affluent...
Dumont has been reversed, but the appellate court's holding is so narrow that fiduciaries should not take heart. In fact, they should stay afraid -- very afraid. Stock concentrations are still dangerous and fiduciaries may get slammed for them...
File this one under, damned if you do, damned if you don’t. Over the past few months, Merrill Lynch executives have met with African-Americans financial advisors to settle a class-action lawsuit alleging systemic racism on the part of the firm.
