Practice

The Delaware company, currently in an acquisition deal with M&T Bank, added three senior wealth advisors from Boston Private.

New York Attorney General Andrew M. Cuomo filed a lawsuit against Ernst & Young LLP charging the accounting firm with helping Lehman Brothers Holdings engage in an accounting fraud masking the true state of its balance sheet.

The company said it has already taken appropriate provision for the fine, so payment won't affect current income.

The New York attorney general's lawsuit claims that the accounting firm explicity approved the transactions, which were designed to temporarily reduce the leverage on Lehman's balance sheet.

If the FDIC has its way, federal regulators would not wait for Congress to create national servicing standards, but instead write such rules as part of risk retention guidelines.

Although independent registered investment advisers are optimistic about the future of their businesses and the stock market, they are worried about the time and money associated with pending regulatory changes, according to a new survey by TD Ameritrade Institutional, a division of TD Ameritrade.

What Jon Wax learned about buying an advisory business from a retiring financial planner (his mother).

The new retirement plan requirement to disclose all fees will be particularly difficult for non-registered investments, such as bank collective funds, separately managed accounts and annuities, the SPARK Institute warns. Thus, it is developing standards to facilitate disclosure.

The Bank of America unit caps off a year of aggressive wealth management team expansion with the appointment of five new advisors.

Some transaction participants appear to be rushing to market questionable Build America Bond, bank-qualified or other municipal bond deals before tax incentives expire at the end of the year and risking Internal Revenue Service enforcement action for violations of tax requirements, according to market sources.