12 Best & Worst Broker-Dealers: Q4 Earnings, 2014
Here’s how some of the biggest firms’ earnings compared over the fourth quarter.
Stifel-Sterne Agee Deal Is a Go for $150M
The merged firm should have more than 2,830 advisors and $200 billion in client assets.
SEC Bans Credit Rater S&P From Big Part of Bond Market
Ban will last a year as part of a $60 million settlement regarding ratings of commercial-mortgage bonds in 2011.
IRS Should Get Tougher on Charities: GAO
Budget cutbacks have called into question the adequacy of IRS ability to police tax-exempt groups, the GAO says.
Sterne Agee Takes Ex-CEO to Court Over Luxury Spending
The lawsuit comes after the wealth-management firm was told James Holbrook faced federal investigations.
Bank of America Granted Penalty Relief After SEC Compromise
The SEC has resolved an impasse over punishing Bank of America in a mortgage case, clearing the way for a $16.7 billion global settlement.
SEC, DOL Enforcement: Ex-Mayor Fined for Misleading Movie Studio Investors
Meanwhile, two Canadian citizens were charged with conducting an international microcap fraud scheme.
New Hire Roundup: Marc Seidner Joins PIMCO as Managing Director
Also, BlackRock has named Chip Castille chief retirement strategist, a new position.
12 Best & Worst Broker-Dealers: Q2 Earnings, 2014
Some of Wall Street’s major players still struggle with litigation expenses; many are finding ways to further boost their wealth results.
BofA to Pay $16.65 Billion in Historic Mortgage Settlement
The deal includes $9.65 billion paid to various government agencies, including Justice and the SEC, and $7 billion for struggling homeowners.