Morgan Stanley Pays $4M to SEC Over Market Access Violations
Morgan Stanley allowed a rogue trader to engage in fraudulent trading of Apple stock and lose $5.3 million, the SEC said.
UBS Rogue Trader’s Losses Could Have Topped $12 Billion: Prosecutor
Kweku Adoboli, the so-called rogue trader of UBS who lost $2.3 billion in unauthorized trades, went on trial in London, and the prosecutor said the scale of his gambling put ‘the very existence of the bank at risk.’
5 of History’s Brazen Crooks Who Defrauded Markets
Remember Ken Lay? Probably. Remember Alves dos Reis? Probably not, but he nearly bankrupted a country in 1925.
Barclays’ Diamond Blames Libor Fixing on Other Banks, Regulators
Moody’s cuts Barclays' outlook; investors may be on the hook for losses.
Most Earnings Top Estimates on Mixed Advisor-Headcount News
Bank of America reported net income of $6.2 billion, or $0.56 per share, for the third quarter vs. a net loss of $7.3 billion, or $0.77 per share, last year — topping analysts’ estimates by a wide margin. Revenue, net of interest expense (and calculated on a fully taxable-equivalent basis)...
5 Best & Worst Broker-Dealers: Q3 Earnings
Brokerage firms in the third quarter boosted earnings growth as high as nearly 2,200% and reported declines as low as 120% — AdvisorOne selected a lucky 10 to spotlight.
UBS Beats Estimates; Net New Money Expands in Americas: Q3 Earnings
The U.S.-based wealth management unit had about 6,900 advisors and inflows of $4.5 billion in the most-recent quarter.
The Perils of Exchange Traded Funds
Despite their retail-friendly image today, ETFs were originally designed as a product for professional fund managers and institutional investors, and their involvement is still high.
Who’s More Reckless: Stockbrokers or Psychopaths?
Study at a Swiss University offers surprising results.
Moody’s Downgrades BofA, Wells Fargo & Citigroup
More advisors may feel the necessity to seek independence, as lack of potential government bailouts led to ratings cut.