Practice

Capitol Hill’s efforts to fix the financial system will merely burden already cash-strapped banks, their officers complain.

Many advisors find all-encompassing business strategies too much to cope with. Enter the postcard plan.

They create an “income window” for defined-contribution record-keeping firms.

Bank of America Merrill Lynch said it will create a global service bureau for communications between banks on securities transactions.

The new European Union hedge fund passport rule the European Parliament is soon to vote on, will permit all hedge funds, including those in the U.S., to operate throughout all of Europe’s 27 nations—but it would also subject them to the strict compensation rules.

Citigroup Inc. Chief Executive Vikram Pandit offered up a scathing review Monday of Basel III, saying the new rules do nothing to reduce pro-cyclicality or to level the playing field among different countries and differently regulated financial institutions.

The SEC and Connecticut Banking Commissioner Howard Pitkin charged Southridge Capital Management LLC and its chief executive officer, Stephen M. Hicks, with defrauding investors in million of undeserved fees.

BlackRock and SunGard have partnered to offer a seamless retirement income window for defined contribution plan recordkeeping firms.

Feeling older and fully realizing they have to get serious about preparing for retirement, investors aged 50 and above are an ideal target for fund companies and their sales intermediaries.

The Boston-based company hopes the new offering will help independent advisors boost their business with ultra-wealthy clients.