Corporate governance

The top Massachusetts securities regulator contends a broker's misdeeds could have been prevented if internal compliance officers had only tried.

In a new risk alert, the Wall Street regulator warns about lapses with cybersecurity, email and third-party vendors.

The regulator's latest staff bulletin also calls on planners at hybrid firms to always be clear about if they're wearing their broker or advisor hat.

The regional firm, whose parent is the 10th largest bank in the world by market capitalization, is eager to pitch top advisors seeking stability. At the same time, it's ramping up a major branding campaign with Major League Soccer and Apple to woo next-generation clients.

Wealth management lifted the firm's bottom line, as the unit's revenues rose 11% over the past year and it hauled in assets across multiple channels.

Though revenue growth remains a challenge, Citigroup is still committed to its global wealth management expansion plan, CEO Jane Fraser said Friday. Andy Sieg is joining the bank from Merrill Lynch in September as head of global wealth management.

The revisions come two weeks after the broker-dealer regulator made changes to a rule to loosen in-house inspection requirements for residential offices.

The last-minute changes would loosen inspection requirements but add limits to the type of business brokers can do from home.

CEO Greg Fleming's team secured more than $600 million in capital that brings together two of North America's influential financial families.

The SEC and DOJ accused a New Jersey-based broker of using insider knowledge to make more than $3.4 million from a scheme involving special purpose acquisition companies.