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Merrill Lynch agreed Wednesday to pay $728,260 in civil penalties for allowing unregistered client associates to sell securities in states where they were not permitted to do business, said New Jersey’s Attorney General Paula Dow. Client associates serve as sales assistant to one or more financial advisors.

Three out of every four adults age 18 or older are factoring in Social Security income when planning ahead for their retirement, according to a survey released Wednesday by AARP. Even among younger people aged 18 to 29, 62% expect to rely on Social Security.

A few years ago, a client of Wells Fargo & Co.'s private bank unexpectedly lost his spouse of 50 years.

Scout Investment Advisors Inc., a division of UMB, announced Wednesday that it hired Andrew Iseman as its chief executive officer.

September 10 - Live Broadcast Web Seminar: ETF Administration - Sponsored by BNY Mellon and Citi - Register Now

A Flash Crash that can send the overall average of blue chip stocks down 1,000 points in 10 minutes and where individual stocks can lose more than 90% of their value in 10 seconds remains a looming risk to capital markets, according to the chief financial officer of Accenture [ACN], the large global consulting firm.

The Securities and Exchange Commission is looking at such mechanisms as price collars and limits on upward or downward movements in a stock in a single day, in the wake of the May 6 Flash Crash.

An overreliance on computer systems and high-frequency trading are seen by financial advisors as the primary drivers of the sharpest single-day point decline in Dow Jones history, according to a survey commissioned by the iShares Exchange Traded Funds (ETFs) business, conducted by Market Strategies International and released by BlackRock, the investment advisory firm.

September 10 - Live Broadcast Web Seminar: ETF Administration - Sponsored by BNY Mellon and Citi - Register Now

A supplier of risk management software to bulge bracket firms on Wall Street has proposed that the Securities and Exchange Commission rely on real-time data stored in a nationwide cloud of computing power and networks to create an effective audit trail of stock market activity.