Clearinghouses/Custodians

Updated Monday, May 20, 2013 as of 4:20 AM ET

Industry - Clearinghouses/ Custodians

Southwest Securities Buoyed by Retail Unit in 3Q

Wealth management remained a bright spot on Southwest Securities� earnings even as the firm as a whole struggled to net a profit for the third quarter.

Overall, Dallas-based Southwest Securities Group reported a net loss of $5.7 million, but the retail segment impressed with a profit of $308,000, up from a net loss of $1.039 million a year ago. The division continued to build on momentum from the second quarter as revenue rose 7% from the second quarter to hit $27.8 million. more »

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BNY Mellon Reports 1Q Net Loss

Bank of New York Mellon Corp., the world’s largest custody bank, reported a first-quarter loss after the U.S. Tax Court disallowed certain tax credits. more »

Northern Trust Profit Rises as Stock Gains Boost Assets

Northern Trust, the third- biggest independent U.S. custody bank, said first-quarter profit rose 1.7 percent as stock-market gains boosted the value of assets the company oversees. more »

SEC: Advisors Routinely Violate Custodial Rules

Many financial advisors and their firms fail to understand and comply with custodial responsibilities to clients, according to the SEC . As a result, the commission has issued a “risk alert” and “advisor bulletin” to remind and educate planners about the importance of complying with custody rule. more »

Who Are the Industry's Top Custodians?

As an increasing number of fee-based advisors leave wirehouses to go independent, some custodians are experiencing some of the strongest growth in the financial industry. Here are the top 15 custodians as ranked by RIA assets. more »

Fidelity Introduces Risk, Compliance Hub

The new platform will allow advisors to spend less time managing regulatory and compliance issues, and more time growing their businesses. more »

Raising the CFP Profile: CEO Kevin Keller Discusses Enforcement

CFP Board CEO Kevin Keller talks about enforcing the fiduciary standard and building the image of the profession. more »

Stocks Rise as U.S. Trading Resumes; Commodities, Euro Gain

Stocks advanced as U.S. equity markets resumed trading for the first time this week after Hurricane Sandy. Most European shares rose as airlines reported better-than-estimate earnings, the euro strengthened and gasoline climbed to a two-week high. more »

U.S. Stocks to Resume After Longest Weather Shutdown Since 1888

U.S. equity markets will reopen today after the longest weather-related shutdown in more than a century, resuming after the New York Stock Exchange was spared by Hurricane Sandy as it swept through New York Oct. 29. more »

Stock Exchanges Looking to Open Wednesday

The New York Stock Exchange and other national stock markets are starting to plan to open for trading on Wednesday, as they work through the second day of darkness due to Hurricane Sandy. more »

SEC Sets Risk Standards for Clearers

The federal regulator late Monday adopted a rule that establishes standards for how clearing agencies should manage risks and run their operations. more »

Fees, Lower Loss Provision Boost Northern Trust Profits

Northern Trust, the nation's third-largest custody bank, said Wednesday that its third-quarter profit rose 4.9% from the same period last year, to $178.8 million, as improved asset quality and strong fee-income growth more than offset dips in interest income and foreign-exchange income. more »

Knight Capital Ducks Insolvency With $400 Million Investment

Knight Capital Group Inc. received a $400 million cash infusion through the sale of convertible securities after trading losses spurred by a software failure drove the market maker to the brink of bankruptcy. more »

Who's Offering the Highest Average Pay on Wall Street?

Jefferies Group Inc. and Goldman Sachs Group Inc. led Wall Street’s largest securities firms in average compensation per employee at midyear, widening a lead over JPMorgan Chase & Co. more »

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