Industry

Puerto Rico came under increased pressure to issue bonds in coming months to prove it can still access capital, as Moody's Investors Service put $52 billion of the island's debt under review for a downgrade to junk status.

U.S. Bancorp has promoted P.W. Parker to vice chairman and chief risk officer, the Minneapolis company said Thursday.

Bank of America’s Merrill Lynch agreed to pay about $131 million to settle U.S. regulatory claims it failed to tell investors that hedge fund Magnetar Capital had a role in selecting assets for two 2006 mortgage-backed securities.

Schade replaces the San Francisco firm's co-founder and chief executive, Brodie Cobb, who suffered serious injuries in a bicycle accident last year.

Almost half of the advisors in a new FPA study say they don't have a retirement plan; even more fail on business and succession plans.

Former U.S. Senator Judd Gregg is stepping down as the head of Wall Street’s biggest lobbying group, according to people briefed on the discussions.

The enhanced site allows advisors to alter certain components of their profiles at will -- though not their disciplinary history.

Expansion-minded Savant Capital Management has bolstered its presence in the vibrant Chicago metropolitan market, acquiring Paragon Advisors, a $150 million firm in Naperville, Ill.

A big LPL practice with $3.7 billion in assets under management is picking up a $300 million Chicago-area firm.

Even as the SEC is contemplating an expansion of fiduciary rules to include broker-dealers who operate in the retail space, some advocates argue that the regulatory interpretation of the responsibilities under a fiduciary standard has strayed from common-law precedent and become dangerously diluted.