Skip to: Content
Skip to: Site Navigation
Skip to: Search
SUNDAY, NOVEMBER 22, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: brokerage

brokerage stories: 10 news summaries

(Newser) - The New York attorney general has told Charles Schwab he will sue the brokerage for civil fraud over its marketing of securities to clients, reports the Wall Street Journal. Andrew Cuomo alleges that Schwab's brokers had little understanding of the financial instruments and then failed to inform clients that the... More »

MORE ABOUT:
debt • lawsuit • Andrew Cuomo • liquidity • brokerage • Charles Schwab Corp • auction-rate securities • brokers • financial crisis


 Traders Sneeze, 
 Peso Catches 
 Cold—or Flu 

Mexico City brokerages suffer under swine flu

Apr 30, 09 11:49 AM CDT
(Newser) - Peso trading is taking a hit as Mexico City brokerages, wary of spreading the flu, send home anyone who so much as sneezes, Bloomberg reports. Face masks litter the floor at one brokerage, whose daily trading volume is down 30%, as traders furiously scrub their desks in an attempt to... More »

MORE ABOUT:
Mexico City • Mexico • brokerage • swine flu • Mexican peso • currency trading

Brokerages Get
Tough on B-List
Hedge Funds

With financing cut,
look for many to merge or collapse

Feb 17, 09 8:30 AM CST
(Newser) - Brokerage firms are cutting their financing and support to hundreds of hedge funds, reports the Wall Street Journal, delivering a further blow to what was the highest-flying sector of American finance. As they attempt to shore up their own positions, the banks are dividing their hedge fund clients into two... More »

MORE ABOUT:
funding • brokerage • hedge funds • banks • financial crisis

Madoff Scandal Turns Up Heat on Financial Advisers

Loophole lets Madoff types profit from bad advice, they say

Jan 21, 09 3:53 PM CST
(Newser) - Wall Street advisers and brokers are tussling over the details of a looming regulatory overhaul as Washington takes steps to prevent another Bernard Madoff scandal, Bloomberg reports. Advisers want brokers who counsel clients to be subject to the same oversight they’re under; currently, their brokerage counterparts can profit by... More »

MORE ABOUT:
Wall Street • Merrill Lynch • SEC • oversight • investment • regulation • brokerage • bank regulation • brokers • Obama administration • President Obama • Bernard Madoff • financial adviser

(Newser) - Rumors of Citigroup’s plan to merge its brokerage unit with that of Morgan Stanley have proven true, as both companies’ boards approved the move today, CNBC reports. Morgan Stanley will control 51% of the joint venture between its operation and Citi’s Smith Barney. Observers see Stanley’s option... More »

MORE ABOUT:
Citigroup • merger • Morgan Stanley • Citibank • brokerage • bailout • Smith Barney • TARP

 Morgan Stanley Near $3B 
 Deal for Smith Barney 

The joint venture would create the world's largest retail brokerage

Jan 12, 09 7:09 AM CST
(Newser) - Morgan Stanley is close to a deal giving it control of Citgroup’s Smith Barney business and creating the world’s largest retail brokerage, reports Reuters. The joint venture would give Morgan 51% of Smith Barney for up to $3 billion. In addition to the cash, Citi would benefit from... More »

MORE ABOUT:
Citigroup • mergers and acquisitions • Morgan Stanley • brokerage • Smith Barney

Morgan Stanley Eyes Smaller Fish to Boost Banking Cred

After converting from investment bank, company targets growth in deposits

Dec 1, 08 10:27 AM CST
(Newser) - Just months after converting from an investment firm into a bank-holding company, Morgan Stanley is already one of the top 50 US banks in terms of deposits, the Wall Street Journal reports—and is looking to acquire regional banks that will speed its climb. Analysts say it’s unlikely Morgan... More »

MORE ABOUT:
Bank of America • Morgan Stanley • brokerage • Sears • banking industry • financial crisis • bank-holding company

 Merrill Braces for $6B-$8B 
 in New Writedowns  

Subprime woes mean unprecedented third consecutive losing quarter for brokerage

Apr 16, 08 10:28 AM CDT
(Newser) - Merrill Lynch is likely to report another $6 billion to $8 billion in writedowns related to the subprime collapse tomorrow, leading to a third consecutive quarterly loss, the Wall Street Journal reports. Merrill’s chronic mortgage losses—$30 billion and counting—show just how deep the world's largest brokerage is... More »

MORE ABOUT:
Merrill Lynch • John Thain • brokerage • writedowns • subprime crisis

Will Lehman Be the Crunch's Next Victim?

Shaky confidence means its biggest fear may be fear itself

Mar 18, 08 4:52 AM CDT
(Newser) - After a collapse of confidence sank Bear Stearns last week, some traders are betting that Lehman Brothers will be the next victim of the credit crunch. Its stock went on a rollercoaster ride yesterday—plunging 40% at one point and closing down 19%, the biggest fall since the firm went... More »

MORE ABOUT:
Wall Street • Bear Stearns • financial markets • Lehman Brothers • brokerage • subprime crisis • financial crisis

John Thain to Be Merrill CEO

Former Goldman honcho took the
NYSE public

Nov 14, 07 12:18 PM CST
(Newser) - Merrill Lynch will name NYSE chief John Thain as its CEO as soon as today, an insider tells the Wall Street Journal. The former Goldman Sachs president, on Merrill’s shortlist since Stan O'Neal was shown the door two weeks ago, was also under consideration for Citigroup’s top post.... More »

MORE ABOUT:
Citigroup • New York Stock Exchange • Goldman Sachs • Merrill Lynch • John Thain • Larry Fink • BlackRock • Stan O'Neal • brokerage

10 Stories


from our news partners