Deutsche Bank AG will pay $1.9 billion to settle claims that it didnt provide adequate disclosure about mortgage-backed securities sold to Fannie Mae and Freddie Mac.
Lawmakers this week called on FINRA to explain its policies for expunging investor complaints about brokers from the public record, suggesting that the industry regulator should revisit the extent to which information is removed from the BrokerCheck database.
Puerto Rico came under increased pressure to issue bonds in coming months to prove it can still access capital, as Moody's Investors Service put $52 billion of the island's debt under review for a downgrade to junk status.
Bank of Americas Merrill Lynch agreed to pay about $131 million to settle U.S. regulatory claims it failed to tell investors that hedge fund Magnetar Capital had a role in selecting assets for two 2006 mortgage-backed securities.
Former U.S. Senator Judd Gregg is stepping down as the head of Wall Streets biggest lobbying group, according to people briefed on the discussions.
Bank of America Corp.s Merrill Lynch brokerage won final court approval of a $160 million settlement of a lawsuit in which it was accused of denying black financial advisers the same opportunities as their white counterparts.
Planned changes to the advisors compensation include an increase in the production hurdles on its cash grid.
The firm plans to reward advisors who team up to focus on goals-based planning.
The firm sweetened awards for financial planning and increased pressure on its lowest producers.
The SEC asked Morgan Stanley about multiple significant deficiencies in its financial reporting after the firm corrected accounting errors involving loan cash flows, income taxes and derivatives contracts.
After holdings of U.S. debt surged to a record $1.89 trillion in 2012, lenders from Citigroup to Bank of America and Wells Fargo are culling for the first time in six years and amassing dollars.
Assets have nearly doubled for direct-investing platforms, but wirehouses still reign.
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HSBC in McLean, Va., has hired a longtime Citigroup executive to lead its U.S. branch network.
Dan Driscoll will oversee six advisors and will work closely with M&T Bank regional presidents in their respective markets.
MBIA agreed to insure a $1.16 billion pool of mortgages without its employees reading a report the bond insurer now claims was altered to hide flaws in the loans, JPMorgan Chases lawyers told a judge.
UBS AG, the worlds biggest wealth manager, is targeting millionaire clients in oil-rich Nigeria and Angola as Swiss rival Credit Suisse Group AG withdraws from some African markets.
The firm appointed a former executive of Capital One Bank to a new position leading the firms private and escrow bankers and coordinating the activities of mortgage banking officers in the field.
Senior financial services executives said the industry needed to move more quickly to promote diversity and inclusion throughout the organization.
Dubai, which teetered on the brink of default in 2009, is cracking down on misconduct at its financial center to safeguard its position as a business hub.
Bank of America exceeded $15.06 yesterday, the price on the day before Brian T. Moynihan became chief executive officer almost four years ago.