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While the sudden departure of Bank of New York Mellon CEO Robert Kelly late Wednesday might have come as a surprise to some industry observers, it was actually a change Rochdale Securities Bank Analyst Dick Bove called for two weeks ago.

A Financial Industry Regulatory Authority arbitration panel has ordered Wedbush Inc. and one of its former brokers to pay $2.9 million in damages and fees to an elderly investor who allegedly fell victim to a faulty investment scheme.

IBM agreed to acquire risk analytics firm Algorithmics for an estimated $387 million. Its risk analytics software, content and advisory services are used by banking, investment and insurance businesses to help assess risk, address regulatory requirements and assist decision-making.

The Securities and Exchange Commission is seeking public comment on the use of derivatives by mutual funds over the next 60 days after publication in the Federal Register. If it determines that new regulations to protect investors are necessary, the SEC will consider passing and enforcing them.

First PacTrust Bancorp's cash-and-stock deal for Beach Business Bank is designed to ensure neither party gets clocked if the buyer's share price drastically changes.

The Bank of New York Mellon Corp., the world’s largest custodian bank, said late Wednesday said that Robert Kelly stepped down as chairman and chief executive officer due to differences with the bank’s directors over his management.

When Warren Buffett’s Berkshire Hathaway Inc. invested $5 billion in Bank of America, it capped off a rocky month for the bank and fed speculation that Merrill Lynch financial advisors might seek cover at other firms.

Bank regulators have long kept state officials at arm's length. But the Consumer Financial Protection Bureau is forging close relationships with state attorneys general to enforce consumer banking laws.

Talks over so-called walk-away rights in stock-swap deals are always touchy. But they are becoming deal breakers after the steep drop in bank stocks in recent weeks.

When it comes to compliance, no one should be hired until they spend a minimum of one year as an advisor. This way they will truly learn how hard it is when dealing with various personalities and all the unique client situations.

The legislation may be a hit or miss, depending on whom you ask. What's good in this mixed bag for advisors and what should they be mindful of?

The baby boomers who are about to retire get most of the attention—but their younger bretheren are still in their forties and have very different financial needs.

Local revenues are on the rise—the first quarter of 2011 market the sixth consecutive period in which state and city revenues have increased.

There are so many career options today that it can be overwhelming—and far fewer sources of credible information.

For love or money, art as an alternative investment can enhance your clients' portfolios.

Estate planning is a critical part of the planning process and ideally should be a group effort, involving attorneys and accountants as well as planners.

An unexpected windfall is welcome, but stressful. Here's a plan for helping clients cope.

UBS Wealth Management Americas hired 11 advisors with $1.2 billion in AUM. The largest team included six Morgan Stanley Smith Barney advisors in Washington, D.C. including David Andreadis, Karen Ben-Shlaush, Richard Haskin, Frederick Schultz, Lloyd Seested and Eric Teichberg. Together, they oversaw $659 million in client assets.

How to make the most of professional relationships without running afoul of regulations.

The last crash is still fresh in the minds of investors — and recent volatility doesn't help.