The financial services landscape has been long dominated by lazy incumbents lacking incentive to change. No longer. Financial services disruptors are all over Wall Street.» Read More
"By providing investors with the ability to choose the forum in which to bring their legal claims and protect their legal rights, we enhance investor protection and add more teeth to our federal securities laws," said U.S. Securities and Exchange Commission member Luis Aguilar in prepared remarks before the North America Securities Administrators Association's annual conference in Washington, D.C..
April 16- TD Ameritrade Holding Corp, the biggest U.S. discount brokerage by client trading volume, said on Tuesday that continued double-digit growth in client assets helped its quarterly profit rise 5.1 percent.
Aguilar's comments come just shy of three years since the enactment of the 2010 Dodd-Frank Wall Street reform law, which bestowed the SEC with new powers to bolster investor protections. One provision in the law gives the SEC the authority to scale back or prohibit the use of pre-dispute arbitration agreements, which are routinely used by brokerages.
April 16- TD Ameritrade Holding Corp, the biggest discount brokerage by client trading volume, said Tuesday that continued double-digit growth in client assets helped its fiscal second-quarter profit rise 5.1 percent from a year ago.
Earnings per share of 15 cents missed analysts' average forecast by a penny, partly because the San Francisco- based brokerage firm waived a higher-than-expected $155 million of fees on money-market funds to ensure investors did not lose money due to low interest rates.
Earnings per share of 15 cents missed analysts' consensus forecast by a penny, partly because the San Francisco- based firm waived a higher-than-expected $155 million of fees on money-market funds to ensure investors did not receive negative returns due to low interest rates.
April 15- Charles Schwab Corp's first-quarter earnings rose 6 percent but fell short of analysts' expectations as client trading activity remained lukewarm and one-time expenses increased.
U.S. stock index futures were in negative territory Monday as weak economic data in China sparked a global commodities selloff and trumped encouraging earnings from Citigroup.
Earnings season kicks into high gear in the week ahead. Plus, at least 10 Fed speeches. How risk-averse are investors? Oh, this is going to put them to the test. Rest up.
NEW YORK/ CHICAGO, April 12- Within 36 hours of Warren Buffett's announcement of a deal to buy H.J. Heinz, U.S. authorities froze an account linked to possible insider trading.
Fidelity Investments and Charles Schwab give independent financial advisers a percentage of the assets that their clients put in certain mutual funds, according to Reuters.
But Fidelity Investments and Charles Schwab Corp are paying these financial advisers as much as 0.25 percent of the assets that their clients put in no-transaction-fee mutual funds.
"Payment for order flow is on an uphill climb, and in these markets, there has to be questions about how those conflicts are being reined in," said Chris Nagy, president of consulting firm KOR Trading LLC and former head of TD Ameritrade Holding Corp's order routing operations. "
NEW YORK, March 29- The world's biggest banks won a major victory on Friday when a U.S. judge dismissed a "substantial portion" of the claims in private lawsuits accusing them of rigging global benchmark interest rates.
*Stocks advance on reports that Cyprus hours away from deal. *Euro recovers on investor optimism about a Cyprus deal.
*Wall Street, Europe rebound as concerns about Cyprus ease. *Oil holds above $107 as Cyprus bailout deadline nears. Wall Street opened higher and European stocks edged higher after Greece and Cyprus said that Greek banks had agreed to buy the local units of stricken Cypriot banks.
NEW YORK, March 22- U.S. stocks rose on Friday as a banking deal between Greece and Cyprus eased some concerns about the island nation as it tries to avoid a financial meltdown and an exit from the euro that could roil the euro zone. Cyprus agreed with Greece on a takeover of the Greek units of Cypriot banks, which ended uncertainty over the fate of those operations.
BOSTON, March 13- Fidelity Investments has expanded its 3- year-old partnership with BlackRock Inc to offer its customers free trading of more exchange-traded funds, as the once-dominant mutual fund company strives to catch up in a faster-growing market.
When the markets are doing well, people are much more interested, "said Charles Rotblut of the American Association of Individual Investors."
NEW YORK, March 5- The euro rose for a second straight day against the dollar on Tuesday while commodity currencies such as the Australian and New Zealand dollars gained as risk sentiment improved after a major U.S. stock index surged to all-time highs.