Practice management

Already armed with Pershing for standard clearing, the new unit is designed to clear futures and derivatives trades.

The Securities and Exchange Commission has launched a review of a failed investment by five southeastern Wisconsin school districts in collateralized debt obligations that were intended to establish trusts to pay the districts’ non-pension retiree health care benefits.

The Securities and Exchange Commission said Monday it charged ICP Asset Management LLC and its founder and president, Thomas Priore, with defrauding investors four multi-billion-dollar collateralized debt obligations

House conferees reached an accord with Sen. Richard Durbin on a provision of the regulatory reform bill that would allow the Fed to regulate interchange fees on debit cards.

Now that custodians like Schwab Advisor Services will have to report the same information directly to the Internal Revenue Service, Schwab is taking steps to ensure that they and their advisor clients move in lock step with each other to avoid running afoul of the IRS’s new rules.

The Senate is considering a set of exemptions to the Volcker Rule that would allow the asset management divisions of banks to continue business as usual when it comes to investing client money in hedge funds and private equity.

The hiring mill keeps grinding at the wirehouses, as MSSB adds two teams of advisors with combined client assets of more than $1 billion.

Wealthy individuals now hold more of their assets in IRAs than employer-based plans.

The conference committee made critical changes to the regulatory reform bill in its first substantive week of work, but the hardest decisions are still ahead.

Wirehouses and regionals nab financial advisors and veteran executives.

Currently in its pilot phase, the new software could be available to all of its advisors in August.

The migration of advisors continues, as RBC Wealth Management hired two from UBS to expand in Portland, Ore.

House and Senate conferees meeting to hammer out a financial regulatory reform bill appear to have reached an agreement that would allow the Municipal Securities Rulemaking Board to regulate financial advisers and other market intermediaries.

Neither criminal prosecutors nor the SEC ever filed charges against AIG or any executives.

The House approved a bill 241 to 182 on Thursday that would create a $30 billion fund that community banks could access for small business loans.

After a heated debate, the regulatory reform conference committee agreed late Thursday to scale back a provision of the bill that would eliminate the use of trust-preferred securities as Tier 1 capital.

Surveys of wealthy investors show common themes of concern, optimism and a need for guidance from financial advisors.

The Securities and Exchange Commission Wednesday accused the former owner of Taylor Bean & Whitaker with orchestrating a massive equity and MBS fraud tied to his firm's warehouse borrowings from Colonial Bank, a depository it tried to take control of last summer using Troubled Asset Relief Program (TARP) money.

Regulatory reform conferees tussled Wednesday over provisions that would allow the Government Accountability Office more power to audit the Federal Reserve Board, give shareholders a nonbinding vote on compensation and strengthen investor protections.

The Senate has the advantage in conference committee, but advocates have allies there, too.