Bankers’ misdeeds would be cataloged, by name, on a private registry for hiring managers under a proposal that’s gaining traction as Wall Street firms struggle to restore reputations damaged by the financial crisis and the Libor and foreign-exchange scandals. When …
Insurance companies are cutting back on their coverage of Toys “R” Us Inc. suppliers, bringing another headache to a retailer that has suffered more than two years of losses, people familiar with the matter said. Coface SA and Euler Hermes …
A California wealth adviser must pay two ex-employees almost $3.7 million for allegedly defaming them, a securities arbitration panel found. The Financial Industry Regulatory Authority arbitration panel ruled in favor of Corey Casilio and William Leitch, who claimed that John …
Charles Schwab Corp. has dropped a fight to require customers to waive their rights to participate in class action lawsuits, the company said on Thursday. Schwab, the San Francisco-based pioneer discount brokerage, has agreed to pay $500,000 to the Financial …
Investment brokers advising retail customers should be held to a standard that requires them to recommend products that are in the best interest of clients, according to a proposal from a group advising U.S. regulators. Members of the Securities and …
LPL Financial LLC must pay a total of $9 million for significant email system failures and making misstatements to Wall Street’s watchdog, the regulator said on Tuesday. LPL, an affiliate of LPL Financial Holdings Inc., agreed to a fine of …
Charles Schwab Corp. has temporarily reversed its requirement that clients waive their right to bring class-action lawsuits, adding a new twist in a battle closely watched by the securities industry and plaintiffs’ attorneys. “Effective immediately, Schwab is modifying its account …
A top U.S. securities regulator on Tuesday urged the government to consider adopting new rules that would prohibit or restrict brokerages and advisers from forcing customers to sign away their right to sue. “By providing investors with the ability to …
U.S. securities arbitrators ordered a former employee of Merrill Lynch, Deutsche Bank and Oppenheimer & Co. to pay nearly $11 million to an investor who alleged the broker misrepresented securities and made excessive trades. The investor’s case against former broker …
U.S. regulators approved Nasdaq OMX Group’s $62 million compensation plan for firms that lost money in Facebook Inc.’s glitch-ridden market debut, a victory for the exchange operator that also set the stage for potential lawsuits from firms seeking more. The …
