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Finra slaps UBS with $2.5 million fine over short-selling violations
It's the second time in as many weeks that Finra has penalized a firm for such trading problems.
Merrill launches matchmaking service to connect investors and advisers
The firm is positioning Merrill Advisor Match as a modern solution for investors who are looking for financial advice.
Wells Fargo facing class action over 401(k) stock purchases
Three plan participants are suing the bank, alleging that it overpaid for company stock in its employees’ retirement plan.
UBS nabs Merrill advisers managing $1.3 billion
Three make the switch in New York City and two will be based in Paramus, New Jersey.
Wall Street banks hire WhatsApp cops after being hit with big fines
In court documents, the SEC described at least a few senior managers at each firm who engaged in rampant texting with colleagues and clients.
Wall Street firms hit with $2 billion in fines in WhatsApp probe
The penalties levied against firms including Citigroup, Bank of America and Goldman Sachs constitute the largest-ever penalties against US banks for record-keeping lapses.
SEC bars Merrill manager out on sick leave
Richard M. Crabtree, who was based in Annapolis, Maryland, began defrauding a client in 2016, according to the agency.
Despite a $5.2M YES arb loss, its biggest yet, UBS may keep fighting
It's been win some, lose some for UBS as it defends its complex options strategy, but lately investors seem to be prevailing more.
After Wealthfront, UBS dusts off plan to stress banking, tech and productivity
It's back to an 'organic plan' for the bank's wealth management business in the United States, says Iqbal Khan, co-president of UBS Global Wealth Management.
CEO Scharf sees ‘several years’ of regulatory work ahead for Wells Fargo
The bank remains committed to turning itself around after a series of scandals, but implementing all its plans will take time, Scharf said in prepared testimony for a congressional committee hearing.
Morgan Stanley counting fresh assets in the trillions
After its spate of acquisitions, Morgan Stanley now has relationships with 16.5 million clients, Andy Saperstein, its head of wealth management, points out.
Morgan Stanley adviser managing $185 million joins Ameriprise
Kim Garrison is moving to the firm's employee channel in Springfield, Missouri.
Wells Fargo plans third-party racial equity audit
The announcement that the bank hired law firm Covington & Burling to do an assessment comes as CEO Scharf prepares to appear at a pair of congressional hearings.
Merrill Lynch boosts CFP Board diversity efforts with $1.25 million donation
The firm becomes a founding sponsor of the Center for Financial Planning, whose mission is to build a more inclusive talent pipeline.
DOL orders Wells Fargo to pay $145 million over 401(k) company stock purchases
The Wells Fargo retirement plan paid more than fair market value for stock that diminished participants' savings when it was allocated to their accounts.
Merrill team managing $600 million moves to LPL
Six long-time Merrill advisers in Oakland, California, and Savannah, Georgia, switch to LPL's employee unit, Linsco.
Wells Fargo team managing $670 million joins RBC
The Clemens McHugh Financial Consulting Group is joining the firm in Westlake, Ohio.
Accusations intensify in Wendy Williams’ fight with Wells Fargo
An attorney who formerly represented the TV talk show host claimed that Williams was 'left to die' by her adviser at Wells Fargo and her former business manager.
End of Wealthfront deal dents UBS growth plans in US
The acquisition of the robo-adviser was the centerpiece of UBS CEO Ralph Hamers' focus on broadening the wirehouse's wealth management offering.
Former Merrill broker settles civil lawsuit over throwing smoothie
On Wednesday, James Iannazzo agreed to pay $7,500, an amount his attorney called a 'token payment.'
