SEC Enforcement: Wells Fargo to Pay $1.2B on Mortgage Fraud
In another action, a Miami brokerage will pay $1 million to settle anti-money laundering charges.
Recruiting Roundup: RBC Adds $4M Team in New York
Meanwhile, Wells Fargo, Raymond James and LPL Financial announce their latest new advisors.
Enforcement: Hedge Fund to Repay Nearly $3M for Hiding Losses From Investors
Goldman Sachs was censured and fined $15M by the SEC for violating Regulation SHO.
Recruiting Roundup: 3 Advisors Leave Merrill for LPL Affiliate
Meanwhile, Southern California-based EP Wealth Advisors merged with Ballou Plum Wealth Advisors.
Top Portfolio Products: Vanguard Reopens Fund, Shifts Managers
Forethought Life Insurance launches retirement business development department.
Enforcement: SEC Awards Company Outsider $700,000 Whistleblower Award
Meanwhile, FINRA fines Capital Securities Management and orders firm to pay restitution over sales of reverse-convertible notes to seniors.
Recruiting Roundup: Raymond James Grabs $2M Team from Wells Fargo, Davenport
Meanwhile, Merrill Lynch adds a wealth strategist in Miami; Focus Financial draws large RIA in New York.
Top Portfolio Products: DoubleLine Rolls Out Global Bond Fund
Plus, there are new ETFs from Van Eck & State Street, as well as news of a new advisory platform from Oppenheimer.
SEC, FINRA Enforcement: State Street to Pay $12M Over Pay-to-Play Violations
The SEC also charged 11 former executives and board members of a now-defunct bank with fraud for hiding loan losses during the financial crisis.
Recruiting Roundup: LPL Adds 25-Branch Bank to Platform
The $750 million group is based in Pennsylvania and recently added a $120 million rep to its wealth operations.