Law and regulation

Pacific Investment Management Co.’s biggest mutual fund had the worst year of client withdrawals in the history of fund management as the firm lost both of its co-chief investment officers, Bill Gross and Mohamed El-Erian. Investors pulled $19.4 billion from Pimco Total Return Fund in December, bringing redemptions in 2014 to a record $105 billion.

Compensation, while important, is not a magic pill that solves all your team-related issues. Here are a few smarter ways to inspire your team and create a high-performing business.

Two changes will come into effect by July -- an alternative capstone course, and a broadened definition of experience requirements.

In an effort to groom their top talent, some of the industry's biggest financial firms are offering training on how to look and sound like a powerful executive. But how do you tell Ivy League MBAs they need to work on their image?

Morgan Stanley is in talks with the U.S. to resolve an investigation into the bank’s creation and sale of mortgage-backed bonds, the latest in a string of Wall Street cases tied to the 2008 financial crisis, a person familiar with the matter said.

The advisor was with Raymond James for five years without any customer complaints noted by FINRA.

Nicholas Schorsch has resigned from RCS Capital, New York REIT and 11 other non-traded real estate investment trusts and direct investment programs sponsored by AR Capital.

Nowhere is the need for sharing greater than in the area of cybersecurity. JPMorgan CEO Jamie Dimon, whose bank in August disclosed that hackers had accessed data on 83 million customers, wrote last spring to shareholders of "intelligence fusion" that the bank uses to share information about threats.

"He called for the male clients, I called for the females," says ex-assistant, who says she knew phone calls to liquidate client assets after a B-D change were wrong.

James C. Cox was working for Edward Jones when he allegedly bilked a "vulnerable developmentally impaired” female client.

A former Wells Fargo advisor allegedly stole nearly $89,000 from an aging woman who authorized him to pay her rent.

Janus shares surged 43% on Sept. 26, their biggest one-day gain ever, after it announced that Bill Gross would join the firm from Pimco. Hiring Gross was the boldest step yet in an almost five-year effort by Richard M. Weil to attract new money and change the public perception of Janus, a firm still known primarily for its growth-equity funds.

A complaint that Schorsch instructed ARCP executives to shift numbers in the company’s second-quarter results to cover up errors from the first quarter is part of a defamation suit against ARCP, Schorsch and former ARCP Chief Executive David Kay, according to The Wall Street Journal.

An attorney for Jorge Posada and Jose Contreras says ballplayers were "victims of fraud, taken advantage of at every turn."

Regulators penalized both the independent and employee channels of Wells Fargo for failing to properly screen over 200,000 customer accounts.

The advisor allegedly solicited and received loans totaling $56,000 from two customers in violation of the firms' policies.

The CFP Board’s first computer-based exam attracted over 2,100 applicants.

John Hancock Investments president and CEO Andrew Arnott discusses the strategic decisions the firm made as it reengineered itself following its 2004 acquisition by Canadian insurer Manulife Financial, the challenges facing asset managers in answering alternative investment demand and even potential competition from non-traditional players entering the asset management space.

The National Adjudicatory Council upheld an earlier ruling finding Wedbush liable for failure to file accurate and on-time reports of customer complaints and broker registrations.

Former Convergent Chairman Steve Lockshin offers his take on events and issues surrounding the suicide of his friend, ex-Convergent CEO David Zier.