Practice

The SEC has fined BNY Mellon $24 million and has banned a former manager of institutional trading at Mellon Securities from associating with any broker dealer firm after carrying out what it called an “eight-year best execution fraud.”

Roth IRA conversions surged last year, particularly in the fourth quarter as investors looked to take advantage of regulatory changes.Bank of America reported that it executed more than 56,000 conversions for its clients last year, nearly 45,000 more than the total number of conversions in 2009.

The first wave of affluent Baby Boomers, those between the ages of 55 and 64 with investable assets of at least $100,000, have 12% less saved than they did four years ago, a survey of 4,000 people by Cogent Research found.

Leading too fast with solutions can lose you a female prospect, warns Empyrion Wealth Management’s Kimberly Foss.

Banks are still juggling how best to use social media to communicate to customers — especially when other systems go down.

A coalition of financial planning experts urged lawmakers to keep the U.S. Securities and Exchange Commission in charge of investment advisor regulation for the sake of cost and efficiency, just days ahead of several federal reports on the industry due next week.

Men and women have distinct approaches to financial management, according to a new survey from Charles Schwab.

With small-business credit still sluggish, policymakers and industry representatives spent much of a Federal Deposit Insurance Corp. forum Thursday debating whether government could find a solution, or was itself part of the problem.

But will a new self-regulator be the new reality?

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