Practice

The Financial Services Authority has slapped a Dubai-based private investor a record $9.6 million – the largest fine ever for an individual – for manipulating the price of a Indian firm traded on the London Stock Exchange.

FINRA has proposed a new rule requiring carrying and clearing firms to maintain certain customer records electronically in an automated accessible location to facilitate the liquidation and transfer of customer accounts if the firm goes bust.

In this low interest rate environment, some financial planners are advising their clients to cut the middleman out entirely with intra-family loans.

Fringe Benefit Administrators will keep its name under the Lincoln Trust umbrella, and expand the Denver firm’s presence in the Southeast.

NYSE Technologies said it extended its global trading network to a fifth Equinix data center.

Education Secretary Arne Duncan urged a special advisory council to dig deep as it crafts recommendations for improving Americans' financial literacy though education and training programs, arguing that personal finance should be integrated early into the curriculum as a core subject.

BNY Mellon has promoted wealth management veteran Ridgway Powell to a new position leading a team of advisors to ultra high-net-worth families and family offices.

The largest and most successful asset managers are structured as partnerships, Bob Pozen, chairman emeritus of MFS Investment Management, told attendees at Fund Forum USA’s Global Fund Distribution Summit.

The proliferation of new regulations emanating from the Dodd-Frank Act, Basel III and Solvency II are collectively inducing an outpouring of technology spending from companies in the financial service sector, a new report finds.

NEW YORK--Citigroup Chief Executive Vikram Pandit said MF Global’s woes point to a need for an expanded focus on the shadow banking system and broader transparency for derivatives.