UBS Hit With Second $18M Ruling Over Puerto Rican Munis
The ruling includes $4 million in punitive damages, while the prior award is being challenged in court.
Mercer Adds New York RIA; 2 Groups Rejoin SII Investments: Recruiting Roundup
The RIA in the Big Apple has $100 million in assets, while the California and New Jersey advisor groups have a total of $220 million.
SEC Whacks Citadel for $22M Over Misleading Trade Prices: Enforcement
In other news, the Port Authority of New York and New Jersey is the first municipal issuer to admit wrongdoing in an SEC enforcement action.
College Degree Doubles the Odds of Getting a Job
The unemployment rate of recent college graduates is less than half the rate for all young workers, according to the New York Fed.
Trump’s Border Tax Threat May Weaponize the Dollar
Things may even out in the U.S., but emerging markets will suffer.
Morningstar Adds 2 to C-Suite
Tricia Rothschild is now chief product officer; Danny Dunn has joined from IBM to be the firm's first chief revenue officer.
5 Trends in How Advisors Construct Portfolios
A new Practical Perspectives report explores growing reliance on passive management and other changes.
DOL Fiduciary Rule Could Be Halted ‘Within Days’ of Inauguration
While a bill to delay the rule is pending, there are faster routes, U.S. Chamber of Commerce exec David Hirschmann says.
Gundlach, Ribbing ‘Second-Tier’ Managers, Says 3% Is Rate to Watch
The DoubleLine CEO took an apparent shot at Bill Gross while discussing his yearly outlook, which also predicted a stock selloff around Trump’s inauguration.
CFPB’s Cordray Shouldn’t Be Fired, He Should Quit: Senate Banking Chair
Earlier GOP calls to fire Richard Cordray were met with warnings about the potential for a costly lawsuit.