Texas BD to Pay $100K Fine, Repayments to Seniors It Fleeced in Massachusetts
In one case, a senior client in the final stage of terminal cancer had almost all of her assets put in a variable annuity, “leaving her without access to liquid funds,” regulators say.
New Money Market Fund Rules Working as Planned: NY Fed
As a result of the new rules, money has shifted away from riskier institutional prime and muni funds into safer government funds.
‘Myth Busting’ Ex-Broker to Pay Dating Guru $1M
A FINRA panel has ruled that radio host Dawn Bennett is required to compensate the former client for losses and expenses.
Raymond James Adds Team of Women From Morgan Stanley: Recruiting Roundup
Meanwhile, TD Wealth grabs a group in New Jersey from Wells Fargo.
Wall Street Bonuses Not Keeping Up With Profits
New York Comptroller finds that NYSE firms had a 21% bounce in profits, but employees' average bonus rose just 1% last year.
SEC Shortens Trade Settlement Cycle to 2 Days From 3
The T+2 rule is designed to enhance efficiency and reduce risk, the SEC says.
Goldman Sachs Set to Hire Developer for New Robo-Advisor
Automated platform to serve wealthy clients, a job posting shows; the platform would be part of the investment management division.
Trump Education Department Now Allows Big Collection Fees on Defaulted College Loans
The new guidance affects loans from lending institutions made before the feds took over the student loan program in July 2010.
Raymond James Nabs More Merrill, Wells Fargo Teams
The groups join in Virginia and Pennsylvania with client assets of about $350 million and $138 million, respectively.
March Madness: LPL’s ‘Sweet 16’ Bracket for the Market
As the basketball bracket comes into focus, so should multiple factors influencing equities, says CIO Burt White.