Tagged with "financial crisis"

Bank of America Continues to Rebrand Merrill Lynch

Posted on February 28th, 2019 at 10:31 AM
Bank of America Continues to Rebrand Merrill Lynch

Bank of America, which bought the wirehouse, Merrill Lynch during the financial crisis of 2008, has announced that it has plans to rebrand its wealth management operations by dropping “Lynch” out of its name.

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A Decade After the Financial Crisis of 2008, The Financial Planning Industry is Seeking Clarity Regarding Custody Status for RIAs

Posted on February 21st, 2019 at 5:06 PM

As a result of the financial crisis of 2008 and the Bernie Madoff Ponzi scheme, the SEC updated its custody rules for registered investments advisers in 2009.

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LATEST NEWS AND ARTICLES

October 11, 2024
Macquarie Investment Management to Pay $79.8 Million for Overvalued CMOs and Unlawful Cross Trades

The U.S. Securities and Exchange Commission (SEC) has charged Macquarie Investment Management Business Trust (MIMBT) with overvaluing collateralized mortgage obligations (CMOs) and executing unlawful cross-trades that favored certain clients. 

October 10, 2024
Merrill Lynch and Harvest Volatility Management Fined $9.3 Million for Exceeding Client Investment Limits

According to SEC.gov, the Securities and Exchange Commission (SEC) has charged Merrill Lynch, Pierce, Fenner & Smith Inc., and Harvest Volatility Management LLC for exceeding clients’ designated investment limits, resulting in higher fees, increased market exposure, and financial losses. 

October 9, 2024
Charles Schwab Faces Lawsuit Over Failure to Prevent Elder Fraud in Computer Hack

A new lawsuit claims that Charles Schwab failed to protect an elderly client from a fraudulent scheme that drained her retirement savings.