Wells Fargo, Merrill Lynch and SEC
SEC Charges Pair of Wells Fargo Advisory Firms and Merrill Lynch with Compliance Failures Relating to Cash Sweep Programs
According to the SEC's orders, Wells Fargo Advisors and Merrill Lynch offered bank deposit sweep programs (BDSPs) as the only cash sweep option for most advisory clients and received a significant financial benefit from advisory client cash in the BDSPs.
When the Federal Reserve started raising its benchmark rates in 2022, banks kept paying very little on sweep accounts. That ...
Bank of America’s brokerage unit reported strong growth, as did the company’s private bank, as executives are emphasizing ...
2hon MSN
The largest percentage of the U.S. population is or about to retire, 25%--what will they do with their assets?
Merrill and Wells are facing a total of at least 11 lawsuits related to the interest rates in their cash sweep programs, and ...
DeBlasi, now a Scottsdale, Ariz. resident, is a senior vice president and financial advisor for Merrill Lynch’s Wealth ...
An ex-Merrill Lynch banker turned in-house deals expert lost a ruling over whether a raid of his home in the Paris suburb of ...
The firms failed to consider the best interests of clients when selecting cash sweep programs, the agency said.
In the case of Morgan Stanley, the wirehouse wants its financial advisors to increase their banking relationships with ...
Merrill Lynch and Morgan Stanley executives on Thursday discussed plans to further tap in-house banking services in their ...
Bank of America Corp (NYSE:BAC) and its subsidiary Merrill Lynch, Pierce, Fenner & Smith Inc. disclosed recent transactions ...
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