Montana brokerage firm to pay $85,000 for inaccurate information on muni distributions while small Florida indie firm is slammed for failing to supervise broker who sold “non-traditional” products such as inverse-return exchange-traded products.
The bank’s capital-markets division had its worst quarter in two years for profit and revenue, with lower investment-banking fees and higher provisions for soured corporate loans causing a 12% drop in earnings for the business.
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Wirehouse’s plan to eliminate front-end loads, back-end loads and 12b-1 payments has not been followed to date by rivals.
Stocks slumped around the world and bonds rallied after President Donald Trump aimed his tariff weapon on economies from South America to Europe and China, denting hopes for a global recovery.
$45 billion-asset Kansas-based Creative buys Wisconsin’s Hogan Financial while $17.5 billion-asset Denver-based Mercer Advisors picks up Adam Financial in Florida.
The S&P 500 Index slumped on renewed concern the U.S. will slap fresh tariffs on Chinese goods and after President Donald Trump reinstated levies on steel and aluminum from Argentina and Brazil.
Palo Alto, California-based broker agrees to three-month suspension for letting a customer move money from her husband’s IRA to a jointly-held bank account.
St. Louis-based John Gatewood says he structured a new ownership plan for his $550-million wealth practice and secured better technology by shifting from his lifelong firm.