SEC Sanctions Schwab, TD Ameritrade, 11 Others on Puerto Rican Junk Bond Sales
The SEC Monday sanctioned 13 firms under MSRB's minimum investment rule intended to keep retail investors out of higher-risk offerings.
Ex-UBS Intern Sues for $5M Over Sexual Harassment, Discrimination
Young woman says her advisor boss promised her purses and shoes as “a bonus” for sexual favors.
SEC Enforcement: Kansas Charged With Securities Fraud
In another action, a brokerage firm and its founder were charged with violating net capital requirements and falsifying data in an attempt to mislead examiners.
Raymond James Recruits 3 Wirehouse Teams, $875M in Client Assets
Meanwhile, Morgan Stanley and Merrill Lynch grab advisors from each other in the latest recruiting push.
BofA Q2 Earnings Tumble on $4 Billion Expense for Litigation
Bank of America spent $4 billion in the second quarter to cover litigation costs, including a mortgage settlement with American International Group.
Dow Average Tops 17,000 as Payrolls Rise Amid ECB Plans
Records set for Dow industrials, S&P after Labor Dept. reports 288,000 new jobs in June and Mario Draghi reveals European stimulus plans.
Prepare for Dow 12,000 if Oil Shock Shakes Market
While an oil supply shock is not a Citigroup report’s “base case,” the ramifications of this “fairly fat tail risk” would be ugly.
Citigroup Shares Rise as Profit, Revenue Beat Estimates
Citigroup Inc. rose as much as 4.6%, the most in more than 15 months, after the bank posted a surprise increase in first-quarter profit and revenue.
SEC Enforcement: SEC Busts Scheme Involving Stock Tips on Napkins
Also in enforcement, the SEC fined Lions Gate Entertainment and froze assets of the promoter of a microcap stock scalping scheme.
SEC, DOL Enforcement: Big Four Accounting Firms Must Disclose China-Related Records
Meanwhile, DOL wins a $10 million settlement in ESOP case and Massachusetts bars an advisor for fraudulent, unethical activities.