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Coding and other billing system errors were to blame, according to the regulator.

The advisory business ended the year on a strong note, boosted by growth in net interest income, which rose 14% year-over-year.

The move comes as a surprise; "active search" for a replacement underway.

The business, which includes Merrill Lynch, said profits were up 1.8% year-over-year, but down 9% from the previous quarter.

Advisers have been warned: SEC's exam guidance to focus on cyber threats and issues involving seniors, leaving little excuse for noncompliance.

Planners act on expectations of pro-business, anti-trade initiatives by the incoming administration.

Revenue increased 4% from 2015 even as the number of advisers fell by 10%.

Daily volume has increased among both ETFs and equities, but the growth hasn't been equal.

The firm said it received a 1% boost to $2.89 billion. Analysts predicted $2.93 billion.

A husband and wife alleged they were advised to cash out nearly $1 million of their pension money for risky investments, according to their lawyer in FINRA arbitration.