SEC Talks Crowdfunding, Grapples With Accredited Investor Rules
More than 60 offerings have been held since the crowdfunding rule took effect in May, said SEC chief Mary Jo White.
TD Ameritrade Earns $240M in Quarter; Says Retail Robo Is Coming
Advisor business was particularly strong in the quarter ended June 30, say outgoing CEO Tomczyk and incoming CEO Hockey.
Don’t Waste the ‘Summer of DOL’ as Fiduciary Compliance Clock Ticks
From analyzing your client base to tech updates, there's a lot to get done before April, John Gebaur of NRS says.
SEC Proposes Making Brokers Reveal Where Client Orders Go
Regulator seeks comment on ramped-up broker disclosure rules; institutions would get more information on how orders filled.
Goldman Sachs Profit Jumps 74% on Bond Trading: Q2 Earnings
Fixed-income revenue rises 33%, equities revenue drops 11%; firm’s compensation costs decline 13% to $3.3 billion.
Sell Oppenheimer Muni Funds on Puerto Rico Risk, Ameriprise Says
Oppenheimer funds held $3.5 billion worth of Puerto Rico securities as of March 31, the most of an mutual fund group, according to Morningstar.
Saving Early No Longer Enough for Retirement Success: Survey
Pre-retirees need to save an additional seven years compared with current retirees, according to a survey from HSBC.
Schwab Q2 Profits Jump 28% on Record Revenue
Robo platform tops $8 billion in assets; total client assets in Schwab Advisor Services at $1.206 trillion; profit margins at 39.4%, best since record 2008.
Stock Market Rally Won’t Last, Goldman Warns
Goldman strategists caution investors that the “risk-on” mantra that has prevailed since immediately after the Brexit vote can reverse quickly.
BofA Q2 Profit Drops 18%
Revenue for the wealth group continues to drop, along with fees and commissions at Merrill and elsewhere.