Broker-Dealers
FINRA Fines UBS $2.5 Million Plus Restitution For Failed "Principal Protection" Notes
The collapse of Lehman Brothers continues to prove that "theoretically risk-free" is still not the same as telling clients that investment products are always subject to some form of risk.
Wells Fargo Pays Another $11 Million To Settle Wachovia's Lingering Problems
The ongoing probe into how mortgage-backed securities were sold during the credit boom has cost Wells Fargo $11 million to clean up another liability related to its Wachovia acquisition.
UBS Grabs $1 Million Teams As The Bulge Bracket Shuffle Continues
The Swiss bank doesn't seem to be winding down its broker recruiting efforts ahead of any rumored mergers. If anything, its efforts to lure top producers from its bulge bracket peers are stepping up.
Was LPL Interested In Buying Investors Capital After All?
A full month after the founder of Massachusetts broker-dealer Investors Capital put his own firm up for sale, stories are still circulating that LPL itself could emerge as the buyer.
North Carolina's SECU Brokerage Cleared Of Real Estate Suitability Charge
In a case so complicated it resembles an extra credit question on a certification exam, FINRA has ruled that sometimes investments can lose money and it isn't the advisor's fault.
