BofA to Pay $16.65 Billion to End U.S. Mortgage Probes
The settlement, which includes $7 billion in consumer relief and a $5 billion penalty, is the harshest penalty yet related to the 2008 financial crisis.
SEC Using Hedge Fund Data on $8 Trillion in Assets in Exams, Enforcement
SEC tells Congress it is using compiled data from Form PF, now required of private fund advisors, to support its own regulatory programs.
Morgan Stanley to Pay $275M to SEC in Mortgage Case
Morgan Stanley units understated the number of delinquent loans in two mortgage-backed securities, the SEC says.
Schorsch to Step Down as American Realty Capital CEO
An analyst says the new CEO, David Kay, "will be more proactive in talking to investors and improve the company’s financial transparency."
SEC, FINRA Enforcement: Advisors Get $3.6M Arb Award After Boss Faked Client Complaints
In other actions, Massachusetts has charged Boston-based Cabot Investment Properties with fraudulent sales of real estate investments to seniors.
More Than 1,000 Advisors Attending Morningstar Conference; Gross, Asness Highlight Speakers
Also, Rick Ferri will dialogue with Chris Brightman of Research Affiliates—beehive of smart beta—on alternative indexing: desirable for honey or dangerous for its sting?
10 Best & Worst States for Small Businesses
Thumbtack.com asked more than 12,000 small-business owners, which include advisors, to rate issues vital to them, like the burden of compliance.
World’s 30 Best Cities to Work and Live: PWC
PWC ranked 30 global cities on measures like ease of doing business, cost, economic clout, innovation, health and safety.
Marcato Urges Schorsch to Halt Buying Spree
American Realty Capital Properties “is engaging in too many transformative transactions too quickly” and hurting shareholders, says activist investing firm Marcato.
2 Cities With Best 401(k) Savers: Fidelity
Workers in two California cities are saving the most in their 401(k) plans and taking fewer loans on them.