NEW YORK - Merrill Lynch fired two veteran brokers from its Private Banking and Investment Group two weeks ago for guiding clients to invest in a hedge fund outside of the brokerage firm.
WASHINGTON - Wall Street's self-funded regulator unveiled a list of proposals on Friday to bolster rules governing alternative trading platforms like "dark pools," computerized high-speed trading, and price transparency in the corporate bond market.
NEW YORK - Investors worldwide pulled a net $3.8 billion out of bond funds in the week ended Sept. 17 on rising fears of an early rate hike from the Federal Reserve, data from a Bank of America Merrill Lynch Global Research report showed on Friday.
ZURICH - Switzerland's financial regulator, FINMA, said on Friday it had initiated bankruptcy proceedings against Banque Privee Espirito Santo SA (BPES), part of the Portuguese Espirito Santo family's troubled business empire.
Thu, Sep 18 2014
NEW YORK - U.S. fund managers are finding a lot to like about finger-painting and naptime.
Canadian asset manager Gluskin Sheff + Associates Inc said its quarterly profit more than doubled as assets under management rose 21.5 percent and performance fees increased.
NEW YORK - Investors in U.S.-based funds added a net $6.7 billion into stock funds in the week ended Sept. 17, data from Thomson Reuters' Lipper service showed on Thursday.
CHICAGO - Charles Schwab Corp said on Thursday it added 65 exchange-traded funds to its commission-free trading platform, including a handful of alternative funds, citing demand from customers who want to invest in ETFs without paying online trade commissions.
- Sometimes in life you really can get more for less, but usually only when someone else is a) acting foolishly, or b) taking advantage of a client.
HONG KONG - British asset manager City Financial Investment Co Ltd aims to double its Hong Kong staff and launch a second hedge fund to take advantage of increased investment in the region, Chief Executive Andrew Williams said in an interview.
Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.