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The asset management industry's exceptional agility following the financial crisis, most particularly its ability to improve profitability, is masking long-term challenges to growth, according to McKinsey & Co.

Muni market participants say the rule in its current form could affect about half of municipal securities and reduce liquidity in the muni bond market. The Volcker Rule was part of the Dodd-Frank Wall Street Reform and Consumer Protection Act that became law in 2010.

Former American International Group CEO Maurice R. "Hank" Greenberg is seeking $25 billion in damages from the federal government for the manner in which it bailed out the insurance giant in 2008.

Yes, the European debt crisis and the U.S. deficit crisis persist. Yes, the markets for asset-backed securities, corporate bonds and initial public offerings are depressed. Yes, the Joint Committee on Deficit Reduction has disbanded. But there’s still much to be thankful for, on Wall Street. Whether you’ve been pre-Occupied in the last two months (or two years) or not.

The Tokyo Stock Exchange Group and the Osaka Securities Exchange said they plan to merge. The two exchange operators said their combination will “establish an unchallenged position” in domestic stocks and derivatives trading, as well as “enhance global competitiveness” of their platforms.

The SEC charged a longtime Bernie Madoff employee with fraud for his role in creating fake trades to facilitate the massive Ponzi scheme.

Bank of America has hired almost 300 new Merrill Edge financial solutions in Texas and Florida, bringing the firm to its target of reaching more than 1,000 financial solutions advisors total by the end of this year.

The asset management industry's exceptional agility following the financial crisis, most particularly its ability to improve profitability, is masking long-term challenges to growth, according to McKinsey & Co.

The SEC has ordered broker-dealer FTN Financial Securities to pay nearly $2 million for allowing a registered investment advisor, Sentinel Management, to defraud its clients through a reverse repurchase transaction.

The Investment Company Institute on Monday sent a letter signed by 32 leaders of the fund industry, to the co-chairs of the Super Committee, or the Joint Select Committee on Deficit Reduction.