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Nagengast replaces Steve McWhorter, who retired earlier this month.

Jersey-City based Knight will pay approximately $20 million in cash and stock for Astor when the acquisition is completed in the fourth quarter.

With gold seen as the place to be, BlackRock introduces its first gold mutual fund in the U.S., and shaves its gold ETF fees from 40 BPS to 25.

The trend for precise exchange-traded fund offerings resurfaces, as returns and yields compress.

House Ways and Means Committee chairman Sander Levin plans next week to unveil new jobs legislation that would extend Build America Bonds and other muni bond initiatives that are set to expire at the end of the year.

Federal and state regulators shut seven banks late Friday, pushing the failure total this year to 103. Though the pace of failures briefly slowed earlier this month, it appears to be picking up momentum again, as Friday's failures followed six last week.

If regulators had used the tests to prod European banks to raise capital, American institutions might soon be trading, and competing, with stronger peers across the Atlantic.

The Treasury Department unexpectedly announced it would not pick Julie Williams, the No. 2 at the OCC, to serve as acting head of the agency when John Dugan leaves next month.

Van Eck Global Friday launched the Market Vectors Emerging Markets Local Currency Bond ETF, trading on NYSE Arca under the ticker EMLC. The fund closed at $25.45 for the day.

For as much press as the recent financial reform bill has received, the majority of financial advisers apparently are unaware of its importance on their business and clients.

BlackRock is promoting its first U.S. gold mutual fund, the BlackRock World Gold Fund, aimed at both retail and institutional investors. The fund is managed by gold and natural resources specialists Evy Hambro and Catherine Row.

Even as Build America Bonds continue to transform municipal finance, one thing stays constant: hedging a portfolio of muni securities remains very difficult.

PIMCO has hired seven-year Goldman Sachs Asset Management (GSAM) veteran Maria (Masha) Gordon to help lead its emerging markets strategy team in its London location.

Why not invest in volatility? It’s not an asset or a sector, obviously, but you can still invest in it thanks to a small handful of ETNs and ETFs.

The SEC follows up its proposal to whittle down 12b-1 fees with a plan to remake the Form ADV, Part 2. Emphasis on Plain English is back.

For as much press as the recent financial reform bill has received, the majority of financial advisors apparently are unaware of its importance.

Schwab’s data also indicates a dramatic decline in the size of deals being done.

The Baltimore-based money manager reported that its profits increased to $158.5 million, or 59 cents per share, and net revenue rose 30.6% to $577.4 million.

Trades were made in UITs, closed-end and mutual funds by two Maryland brokers on behalf of 10 customers, FINRA charges.

Even as Build America Bonds continue to transform municipal finance, one thing stays constant: hedging a portfolio of muni securities remains very difficult.