Finance

The 294-page pay ratio rule "provides companies with substantial flexibility," while remaining true to the 2010 Dodd-Frank Act that mandated its creation, Securities and Exchange Commission Chairman Mary Jo White said Aug 5.

Securities and Exchange Commission members are calling for the adoption of rules requiring broker-dealers to disclose markups and markdowns on municipal securities, warning that if self-regulators do not act, the SEC will propose the rules itself.

In the first action of its kind, the Securities and Exchange Commission has ordered St. Louis-based brokerage Edward Jones to pay $20 million for overcharging retail customers in new municipal bond sales.

The firm sent a memo to advisors telling them to withdraw about $80 million from a fund because of illiquid investments and elevated volatility, according to two people familiar with the matter.

While rising rates may temporarily improve net interest margin and profits, they will not increase bank stock prices for at least three reasons, according to banking industry consultant J.V. Rizzi.

David Darnell, a 35-year-veteran of the bank, will leave at yearend in another round of executive changes for the bank owner of Merrill Lynch.

Janet Yellen’s emphasis on a gradual path to higher U.S. interest rates is being vindicated by a decline in the inflation outlook among traders.

U.S. stocks climbed and European equities had the biggest four-day rally in three years on Greece’s bailout agreement, while the region’s bond markets signaled caution. Oil dropped as Irandeal loomed.

Analysis: In order for financial institutions and service providers to really stay relevant there are three key challenges that must be overcome.

Municipal bond issuers may find healthy demand for $4.9 billion of deals scheduled in the coming week, as investors look to put reinvestment money to work.

Many in the banking industry on Friday voiced support for the Supreme Court's decision to legalize gay marriage nationwide and discussed how it would have an impact on their businesses.

With two days left in Puerto Rico’s fiscal year, the cash-strapped commonwealth is struggling to pass a budget that would allow it to make payments on a $72 billion debt load that the island’s governor said is unsustainable.

The Supreme Court's decision to allow same- sex marriage nationwide will remove tax and personal-finance headaches that have bedeviled gay couples.

The Federal Reserve signaled a pickup in the economy is keeping it on track to raise interest rates this year, though subsequent increases are likely to be more gradual than anticipated earlier.

With the Federal Reserve poised to unleash its first interest rate increase in almost a decade there's a debate among investors about whether the past is any guide to how markets will react to a monetary tightening.

The average yield on sovereign securities climbed to 1.34%, the highest since December 2014.

Barclays may fetch $150 million to $250 million for its U.S. wealth unit, according to analysts at Credit Suisse Group.

The Swiss bank’s exit comes after a more than month-long review and as local firms expand in wealth management in a bid to tap the nation’s pension savers and rich investors.

The rapid rate of wealth creation by billionaire entrepreneurs will probably level off over the next two decades as economic growth slows in emerging markets and governments act against income inequality, a UBS study found.

Now that two of the biggest U.S. banks are convicted felons, the Justice Department appears to have proven the point it set out to make a year ago -- that it could deliver the harshest penalty possible against financial institutions without inflicting fatal wounds.