Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were profitable for the companies, the SEC said. Merrill Lynch and two units of ...

The FDIC pointed to the bank's reliance on unhedged, interest rate-sensitive assets, such as long-term U.S. Treasuries and mortgage-backed securities, despite rising interest rates. It also flagged a ...

A trio of advisory firms are being sanctioned for only providing clients with low-paying options in their cash sweep accounts amid the rising interest rate environment. On Friday, the U.S. Securities ...

Washington, D.C.--(Newsfile Corp. - January 17, 2025) - The Securities and Exchange Commission today announced settled charges against registered investment advisers Wells Fargo Clearing Services LLC ...

Washington, D.C.--(Newsfile Corp. - January 17, 2025) - The Securities and Exchange Commission today announced settled charges against registered investment adv... "Lorem ipsum dolor sit amet, ...

PHOENIX — Containment of the Horton Fire northeast of Payson is nearing 100%, according to authorities. The Arizona wildfire consumed 8,346 acres of National Forest Service land before progress ...

Ameriprise Financial has asked a judge to dismiss parts of a lawsuit brought by a group of investors over the interest rates the company paid on uninvested cash and to force the investors to take ...

(Reuters) — The FDIC sued 17 former executives and directors of Silicon Valley Bank on Thursday, seeking to recover billions of dollars for alleged gross negligence and breaches of fiduciary ...

Merrill Lynch and Wells Fargo have agreed to pay a total of $60 million to resolve allegations of Advisers Act violations related to the interest rates offered in their cash sweep programs. The ...

Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle Securities and Exchange Commission charges that they failed to pay advisory ...

FDIC Sues Ex-SVB Executives for Billions Over Bank’s Collapse Ex-CEO, CFO of Silicon Valley Bank accused of mismanagement Bank’s 2023 failure was biggest since 2008 financial crisis ...