Supervisory analysts who reviewed brokers’ emails alleged they often worked extended hours and on weekends but were illegally classified as exempt from overtime pay.
UBS Group AG Chief Executive Officer Sergio Ermotti said European banks are too small to compete with their U.S. peers and will need to consolidate in order to ensure survival and growth.
Michigan broker with almost 50 years of industry experience accepted a three-month suspension and $5,000 fine for making over a hundred trades without permission, according to the regulator.
New company will preserve the nine brokerage brands and multi-clearing model for Ladenburg and Advisor Group’s almost 11,500 independent brokers.
Bonuses across Wall Street are poised to drop in 2019, according to a report Tuesday by compensation consultant Johnson Associates Inc.
As the Dow Jones Industrial Average, S&P 500 Index and Nasdaq Composite Index all set new marks last week, there were no shortage of studies released that crunched data going back to the 1920s to prove that purchasing stocks when indexes hit record highs generates better risk-adjusted returns than simple buy-and-hold strategies.
Merrill Lynch hired a longtime complex manager from Wells Fargo to oversee its Louisville-area offices but has eased out another manager in Scottsdale.
Hong Kong regulators fined UBS Group AG 400 million Hong Kong dollars ($51 million) for overcharging global wealth management clients during almost a decade and flagged concerns about serious and systematic problems with the bank’s internal controls.
Morgan Stanley’s systems failed to put some retirement plan clients and charitable accounts into less expensive fund-share classes that were created for them.
St. Louis-based brokerage giant added a net 331 advisors in its third quarter, finishing with 18,505 brokers to cement its position as the industry’s largest employer by population.
J.P. Morgan Securities and Charles Schwab scored legal victories this week from departing brokers who were allegedly using firm-owned data to solicit former clients.