Customer Demand Drives Banks’ Transformation: KPMG Survey
Nearly a third of banks say wealth management will be a top source of revenue growth in the next few years.
SEC Enforcement: Court Stops Muni Bond Offer Seen as Fraudulent
In other actions, former brokers were charged with illegally trading on a tip about a $1.2 billion acquisition by IBM.
5 Key Traits of Fastest Growing Bank Wealth Managers
Fidelity study names five traits that set thriving bank wealth practices apart — size and location weren't among them — and their five biggest challenges.
SEC Enforcement: Advisor Should’ve Just Said No; Filmmaker’s Funding Efforts Flop
An end-times video game company and former Qualcomm executive are among others in the SEC's sights this week.
Sallie Krawcheck: Top 10 Reasons It’s Bad to Pay Bankers in Stock
Krawcheck says it’s time for large banks’ boards to come up with new payment strategies for executives, such as bonds, “which are fundamentally risk-discouraging.”
SEC, FINRA Enforcement Roundup: Shareholder Suit Against UBS Reinstated
In recent enforcement news, an appeals court reinstated a suit against UBS subsidiaries by two Puerto Rico-based pension funds over a $757 million bond purchase.
SEC, FINRA Enforcement Roundup: Merrill Slapped With $500,000 Fine
Recent FINRA actions include a $500,000 fine against Merrill Lynch for failing to file required reports, and a joint action with the SEC and the exchanges against Hold Brothers.
Parliament Report Slams Barclays, Banking Culture Over LIBOR
A report issued by Britain’s Parliamentary Treasury Select Committee had harsh words for just about everyone involved in the LIBOR-rigging scandal.
RBS Next to be Fined in LIBOR-Rigging Scheme
The inquiry into a LIBOR-rigging scheme looks set to claim another quarry as RBS will reportedly be fined about 150 million pounds.
JPMorgan’s Dimon to Senators: $2 Billion Loss ‘Isolated Event’
“In hindsight,” JPMorgan Chase CEO Jamie Dimon told the Senate Banking Committee on Wednesday, “traders did not have the requisite understanding of the risks they took.”