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brokerage
Latest Headlines
Latest Headlines
MF Global faces mounting questions
While lawyers for MF Global were in bankruptcy court tying to assure a judge that all assets had been accounted for, more issues kept cropping up.
The CME, the main SRO regulating the brokerage, issued a damning statement about the firm's recent activity.
"With respect to the apparent shor
Banks already rethinking debit card fees
If Bank of America thought that imposing a hefty debit card fee on retail customers might spark a rush by other banks to do the same, it has been proven wrong. While there were some regional banks that piled onto the bandwagon--such as Regions and SunTrust-we're now seeing other national banks mov
Merrill Lynch departures suggest lack of bank-brokerage synergies
Will the Bank of America Merrill Lynch combination ever truly work? That's been a huge question in the industry ever since the deal was announced, and so far few people are willing to respond with a resounding yes. The jury is still out. And it could be deliberating for a long time. But there are
Citigroup loses big in arbitration
Citigroup's ( NYSE: C ) Smith Barney has suffered the biggest loss ever in a FINRA securities arbitration case. Two investors, apparently neighbors, were awarded a total of $54.1 million, the New York Times reports.
What could a broker possibly do to merit that kind of an award? The two
Fee-based advisors still on the rise
In not much of a surprise, more than half of all financial advisors are now fee-based, concludes a new report by Cerulli. I would have guessed that milestone had been passed years ago.
The number of fee-based advisors rose to 52 percent last year. For comparison, 22 percent of advisors have a
Brokers keep fighting fiduciary standard
Even before the passage of Dodd-Frank, the battle to move Series 7 brokers to a fiduciary standard from the suitability standard has raged. Brokers pressed their point at the SIFMA conference that the move would be horrible on several grounds. They argue it would curtail choice among end investors
Will the Merrill Lynch deal ultimately pay off for Bank of America
Bank of America's (NYSE: BAC ) deal for Merrill Lynch strikes many as star-crossed at best. It ended the career of then-CEO Ken Lewis and embroiled the company in investigations and litigation. The PR damage was palpable. But in the end, will the deal pay off?
It seems that way. It was the
Fidelity reorganizes; Abby Johnson named to new post
Did Edward "Ned" Johnson III, 79, the CEO of Fidelity Investments ( Fidelity news), just set up a horse race to run the massive mutual fund, brokerage and service giant? Fidelity announced it will create two entities to run the empire, one to manage assets, the other to distribute products and
The new market makers
Here's one way to look at high-frequency trading: The new market makers.
Joseph Mecane, Executive Vice President at NYSE Euronext, puts it this way to Advanced Trading : "Once spreads shrank to a penny and technology was being deployed, the former market maker model wasn't really profi
Rogue broker causes oil spike
The top financial firms have been actively taking steps to prevent rogue brokers from gaming their systems. But there will always be rogues, it seems.
The latest: An oil trader at PVM Oil Associates, the world's largest OTC oil brokerage, said a rogue had placed a massive bet in the Brent oil
