Practice

Morgan Stanley Smith Barney made the inevitable official by allowing a test group of 600 wealth management advisors to use Twitter in a limited capacity to connect and interact with clients and prospective new clients.

The Securities and Exchange Commission Wednesday adopted rules that could reward individuals who blow the whistle on illegal activity in securities markets, with bounties on successful prosecutions where sanctions exceed $1 million.

The brokerage industry’s chief regulator said Tuesday that its examiners will spend more time on “open-ended thematic reviews” that can identify where controls on financial risks break down.

Leona Helmsley, widely regarded as the “Queen of Mean” before she died at age 87 in 2007, left behind a fortune valued by some to be worth $40 to $80 billion. She earmarked twelve million dollars to take care of her dog, Trouble, until the Judge reduced it to a paltry $2 million.

Fidelity fielded a study that found 75% of the broker-dealer and registered investment advisory firms are planning to hire up to 30% more employees over the next 12 months.

After navigating their portfolios through some very difficult investment waters in recent years many ultra high net worth investors are now adopting a more laissez-faire approach to their investments, leaving the day-to-day details to their financial advisors.

FINRA Chief Executive Richard Ketchum said firms need to have strong internal vigilance as the self-regulatory organization plans to step up its examination processes.

And many are distrustful of unscrupulous financial services and insurance companies.

The atmosphere at the hearing reflected how polarizing a figure Warren has become, being portrayed either as a symbol of overreaching government or a defender of the consumer.

Now that Bank of America has bought itself out of a massive class action over the sorting of overdraft fees, its fellow banks need to decide if they hold an advantage that B of A did not.