Updated Saturday, July 26, 2014 as of 1:16 PM ET
Morgan Stanley to Pay $275 Million to End SEC Mortgage Case
(Bloomberg) -- Morgan Stanley agreed to pay $275 million to resolve a U.S. regulatorís claim the company misled investors in the sale of more than $2.5 billion of bonds backed by home loans.
The firm, based in New York, misrepresented the delinquency status of subprime loans backing the securities, which were sold in 2007, the Securities and Exchange Commission said today in a statement. The company disclosed the amount of the settlement in February.   more »
More in Industry
A veteran advisor has left Morgan Stanley for a Chicago-based boutique investment firm where he will oversee $300 million in client assets. more »
The panel is comprised of seven public members and six industry representatives, pulling together advocates, attorneys, regulators and executives from firms such as Citigroup, Morgan Stanley and Securities America. more »
Despite record revenues from wealth management, Bank of America reported that profits slid 43% due to $4 billion in litigation expenses. more »
A Morgan Stanley advisor with $200 million in assets under management has rejoined Merrill Lynch. more »
D.A. Davidson gets a facelift as the regional firm nears its 80th anniversary and enters a new period of growth. more »
Morgan Stanley has picked up five financial advisors from Merrill Lynch, Wells Fargo and J.P. Morgan. more »
Wells Fargo's second quarter profits rose to $5.7 billion, buoyed in part by a roughly 25% increase in profits at the San Francisco bank's wealth, brokerage and retirement unit. more »
Raymond James & Associates lured away a UBS advisor team managing $575 million in assets. more »
Deutsche Bank's asset and wealth management unit is in growth mode in the U.S., hiring a string of managers and advisors. more »
Deutsche Bank, Germany’s largest lender, is relying on its money-management businesses to bolster growth, said Michele Faissola, the unit’s head. more »
Thomson Reuters mid-year data shows that Morgan Stanley has jumped up underwriter ranks in the second quarter from the first quarter, managing a larger volume and increasing its market share. more »
Morgan Stanley CEO James Gorman wants to reduce advisor compensation relative to revenues, but experts warn that changing comp isn't without pitfalls. more »
Ameriprise enticed away a Morgan Stanley advisor who generated $1 million in annual revenue, according to a spokesman for the regional broker-dealer. more »
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