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Investment Banking and Brokerage

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  • BOSTON, March 23- Bank of America's Merrill Lynch brokerage unit agreed to pay a $2.5 million fine in Massachusetts to settle charges that it failed to follow its own compliance rules, the state's top securities regulator said on Monday. Secretary of the Commonwealth William Galvin accused Merrill, Lynch, Pierce, Fenner& Smith of failing to supervise employees...

  • The March 17 decision by the Securities and Exchange Commission, seen by Reuters Wednesday, marks a victory for Bartlett Naylor, a Bank of America shareholder who works for the non-profit Public Citizen. It also represents a reversal for the SEC, which last year rejected nearly identical resolutions filed by Naylor at Bank of America, as well as JP Morgan Chase...

  • The March 17 decision by the Securities and Exchange Commission, seen by Reuters Wednesday, marks a victory for Bartlett Naylor, a Bank of America shareholder who works for the non-profit Public Citizen.

  • CHINESE DEPUTY FINMIN SHI YAOBIN TELLS GERMAN NEWSPAPER "WE WOULD WELCOME USA JOINING THE ASIAN INFRASTRUCTURE INVESTMENT BANK".

  • UPDATE 1-Goldman Sachs BDC shares fall in market debut Wednesday, 18 Mar 2015 | 10:16 AM ET

    March 18- Shares of Goldman Sachs BDC Inc, the first business development company backed by an investment bank to go public in the United States, fell 2.5 percent in their market debut. Credit Suisse Group AG's Credit Suisse Park View BDC is looking to raise $500 million in a non-traded IPO this year, according to a filing. Goldman Sachs BDC's portfolio ranges from...

  • NEW YORK, March 18- More than half of the 17 senior managing directors working in Blackstone Group LP's mergers and acquisitions advisory arm may leave as the business is combined with the advisory firm headed by star Wall Street investment banker Paul Taubman, according to people familiar with the matter. Since he left a senior role at Morgan Stanley in 2012 to...

  • NEW YORK/ SYDNEY, March 18- Fortescue Metals Group Ltd, the world's fourth-largest iron ore miner, has pulled a $2.5 billion high-yield bond issue after a weak response from investors who were concerned about a sharp drop in iron ore prices. Investment banks Credit Suisse and JP Morgan, lead managers for the issue, had first tried to arrange refinance for Fortescue...

  • *Euro helped by comments from Italy's Visco. "The concern... is that the dollar has gone too fast too soon, and this could affect the Fed's inflation goal," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. There are also lingering concerns about the U.S. labor market, said Brian Dolan, head market strategist at online brokerage...

  • BRITAIN DISCUSSED PLANS TO JOIN CHINA- BACKED INVESTMENT BANK WITH UNITED STATES BEFOREHAND, SAYS SOMETIMES TAKES DIFFERENT APPROACH TO WASHINGTON- PM CAMERON'S SPOKESMAN.

  • BRITAIN DOESN'T THINK ITS DECISION TO JOIN CHINA- BACKED INVESTMENT BANK WILL DAMAGE ITS TIES WITH THE UNITED STATES- PM CAMERON'S SPOKESMAN.

  • Bank sector now regulated by 'hypotheticals': Bove Thursday, 12 Mar 2015 | 11:32 AM ET
    Richard Bove

    The government has created a regulatory regime in which banks' balance sheets are dictated by hypothetical situations, Dick Bove tells CNBC.

  • *Push into Asia private wealth faces challenge from incumbent UBS. HONG KONG/ LONDON, March 12- Incoming Credit Suisse boss Tidjane Thiam is expected to focus on private banking in Asia while aggressively cutting jobs at its investment bank, as he aims to repeat the success in the region of his old employer, Prudential. Thiam could slash 3,000 jobs from Credit...

  • LONDON, March 11- Credit Suisse's next chief executive, Tidjane Thiam, could cut almost 3,000 jobs from its investment bank, or 15 percent of staff, as part of a shift of capital away from trading desks to private banking in Asia, analysts said. Credit Suisse said on Tuesday Thiam, the chief executive of UK insurer Prudential, would take over from current CEO Brady...

  • NEW YORK/ TORONTO March 10- HumakerUBS AG has poached a U.S. team of some 15 oil and gas investment bankers from Bank of Montreal, significantly weakening the energy dealmaking capacity at Canada's fourth-largest bank, people familiar with the matter said. The moves come amid plummeting oil prices that have prompted banks to try to lure talented energy bankers...

  • LONDON, March 10- British regulators are looking at whether global agreement is possible on revoking licences of bankers who break rules, Bank of England Governor Mark Carney said on Tuesday. Last year, he suggested that bankers could also be partly paid in performance bonds to reduce risk-taking but lawyers argued it could clash with European Union rules on...

  • *Credit Suisse names Prudential's Tidjane Thiam as new CEO. *Credit Suisse shares rally 7.5 pct. ZURICH/ LONDON/ HONG KONG, March 10- Credit Suisse has swooped on Prudential boss Tidjane Thiam to lead the Swiss bank in a push to manage more of the wealth of Asia's fast growing multi-millionaires' club.

  • This will help US stocks: Morgan Stanley CFO Tuesday, 10 Mar 2015 | 9:02 AM ET
    Morgan Stanley

    Morgan Stanley sees a lengthy recovery ahead for Europe and an improving picture in the United States, CFO Ruth Porat tells CNBC.

  • March 10- A new trading exchange for derivatives is loosening the stranglehold that the world's biggest investment banks have on the multi-trillion dollar market in a crucial test of financial reforms that attempt to reduce systemic risks. The year-old trading venue, trueEX Group LLC, surprised many on Wall Street when it had nearly 20 percent of the trades in...

  • HONG KONG, March 9- Hong Kong shares finished mixed on Monday after the Chinese securities regulator said that banks may be able to enter the brokerage business. Despite the bank-led rally that left both major mainland bourses up over 1.5 percent, Hong Kong's Hang Seng index ended slightly lower. "The news benefited mainland banks as they could expand their...

  • Investment bank China International Capital Corp said in a report on Monday that Bank of Communications and Industrial Bank Co Ltd will likely become the first lenders to be awarded brokerage licenses in China. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 1.7 percent, while the Shanghai Composite Index jumped 1.9 percent.