BNY Mellon to Pay $714M for Bilking Forex Customers
Bank of New York Mellon will repay $84 million to customers it admitted to defrauding through its "standing instruction" foreign exchange trading program.
New Hire Roundup: Paul Smith Named CEO of CFA Institute
Meanwhile, Nikko Asset Management has hired four executives
Millennial Myopia: A Big Social Media Trap
When you assume that “social media is for the young,” you implicitly discredit social as a platform for reaching everyone else.
Top Portfolio Products: ETF Securities, Zacks Launch 2 Funds
Russell Investments, Integral add execution service for foreign-exchange transactions.
Morgan Stanley Picks Up Ex-Merrill Institutional Team in Chicago
Raymond James adds independent RIA group, while HighTower brings on a former UBS group.
Financial Pros Just Don’t Get Millennials: Study
In particular, young investors find efforts to reach them on social media "creepy," a study by Oxford undergrads and BNY Mellon finds.
The Biggest Lie of the New Century
The claim that bank executives did nothing illegal during the financial crisis is simply implausible if not laughable, Barry Ritholtz writes.
Clearing Firms Join the Robot Race
Robo-advisors and other new technologies are transforming the clearing space.
Wealth Firms Adding Indie, Wirehouse Reps
A number of successful advisors are switching channels and broker-dealers at a quick pace in midsummer.
New Hire Roundup: BNY Mellon Announces Organizational Changes
Commonfund's president and CEO Verne Sedlacek will step down; Sarr to head ESG investing at Northern Trust Asset Management.