Kotlikoff: Investors at Risk of Wipeout, SIPC a Fraud
Economist Laurence Kotlikoff says all Americans should close their brokerage accounts immediately because of what he calls a massive insurance scam by the SIPC.
Alexandra Lebenthal: Who Are You Calling a Socialite?
The Lebenthal Holdings CEO on her new wealth unit, how she bought back her iconic family name from Merrill and how she recruits female advisors.
New Hire Roundup: Great-West Financial Names Manello CFO
Also in new hires, Treasury's Office of Financial Research added 11 new members to its financial research advisory committee.
JPMorgan, Goldman Beat Estimates: Q2 Earnings
Bond trading revenue fell at both banks, though less than expected, but CEO Jamie Dimon's health issues overshadowed JPMorgan's results.
New Hire Roundup: Janus Capital Adds Scholes, Alankar
Also in new hires, the SEC announced that Thomas Krysa has been named associate regional director for enforcement in its Denver office.
FINRA Enforcement: Goldman Fined $800,000 for Trade-Through Failures
In other actions, Morgan Stanley was fined $100,000 on private wealth management failures.
New Hire Roundup: SEC Adds 2 Judges, 3 Attorneys
Also in new hires, Nuance Investments welcomed Chad Baumler as portfolio manager.
Top Portfolio Products: Schroders, Oppenheimer Add Funds
The two groups roll out products that focus on global assets, income and emerging markets.
Big Private Equity Funds Gobble Up Most Money
There is a stark division in fundraising between first-time private equity fund managers and their more established counterparts.
SEC, FINRA Enforcement: SEC Freezes Assets of Fugitive Investor in Fake Gold Bid
In other actions, a judge denied Houston hedge fund manager George Jarkesy Jr.'s plea to dismiss the SEC's fraud case against him.