Morgan Stanley pays US$ 63 million settlement on suit over mortgage suit arising from acquistion and failure of three small banks following the 2008 financial crisis.
A U.S. Labor Department plan to reduce conflicts with brokers who offer retirement account advice drew criticism from the chief of Wall Street's self-funded regulator on Wednesday, who said it would shift enforcement from regulators to investors.
A leading Wall Street regulator on Friday voiced concerns over the U.S. Labor Department's plan to reduce conflicts at brokers offering retirement advice, saying some aspects of it do not accurately reflect how brokers operate.
On March 6, the day of the U.S. Supreme Court's deadline for legal briefs backing same-sex marriage, gay rights activists quietly celebrated a victory on Wall Street.
The race for the Democratic nomination in the 2016 U.S. presidential election is turning into a battle of ideas between a woman who has not yet said she is running and another who insists she won't.
Big Wall Street banks are so upset with Democratic Senator Elizabeth Warren's call for them to be broken up that some have discussed withholding campaign donations to Senate Democrats in symbolic protest, sources familiar with the discussions said.
Senator Elizabeth Warren said Friday that the U.S. Labor Department should press ahead with brokerage industry reforms, and not be deterred by the Securities and Exchange Commission's plans to adopt its own separate rules.
A Wall Street trade group released a new study on Monday that takes aim at the economic analysis the White House is using to justify new rules designed to curb conflicts of interest and "hidden fees" that brokers charge customers for retirement investment advice.
Deutsche Bank (DBKGn.DE) AG has passed the first "stress test" set by U.S. regulators but is unlikely to clear the next hurdle as the German bank struggles to tighten compliance fast enough to appease controllers at the Federal Reserve.
For the last decade, Wall Street brokerages have had a pact not to sue brokers that leave their firms and try to take clients with them. Now Bank of America BAC.N Merrill Lynch, one of the founding signers of the truce, is taking steps to erode the agreement, industry lawyers say.
Clashes over strategy within JPMorgan Chase & Co’s compliance operations have led to the departure of a series of managers in the past year, according to three of those who have left.
A former securities arbitration official's wrongful termination suit against the Financial Industry Regulatory Authority (FINRA) is set to head to trial, despite the Wall Street watchdog's effort to end the dispute, a U.S. judge has ruled.
U.S. prosecutors, already smarting from a appeals court ruling that weakens their ability to crack down on future insider trading, on Thursday faced widening fallout from the decision as some existing cases threatened to unravel.
Morgan Stanley said on Tuesday it is responding to potential legal claims from government entities, including the U.S. Department of Justice and several state attorneys general over mortgage securities.
Units of 13 major Wall Street firms, including JPMorgan and UBS, improperly sold bonds from Puerto Rico's landmark March junk deal to retail investors who may not have understood the debt's riskiness, the U.S. Securities and Exchange Commission said on Monday.
Wall Street's self-funded regulator said on Monday it fined Bank of America Corp's Merrill Lynch unit a total of $6 million over violations of certain short-selling rules designed to prevent market manipulation.
Goldman Sachs has been ordered to pay the Libyan Investment Authority (LIA) 200,000 pounds ($321,820) in legal costs as part of a lawsuit brought by the fund over $1 billion in trades that ended up worthless.
