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  • Aug 24- A Charles Schwab Corp unit has agreed to a $2 million civil fine for failing to keep sufficient cash on hand to meet capital requirements on three separate days last year, Wall Street's industry-funded watchdog said on Monday. The regulator also censured the brokerage unit, Charles Schwab& Co., Inc.. The capital deficiencies took place between May 15 and...

  • Free investing app Robinhood not looking to charge Wednesday, 19 Aug 2015 | 11:26 AM ET
    Robinhood app

    Commission-free investing app Robinhood will remain that way as people continue to love the platform, according to its co-founder.

  • Goldman Sachs's unit obtains Hong Kong banking license Wednesday, 19 Aug 2015 | 5:05 AM ET

    HONG KONG, Aug 19- A wholly-owned unit of Goldman Sachs Group received a banking license from The Hong Kong Monetary Authority, the HKMA announced on Wednesday, in a step that creates a local subsidiary through which the U.S investment bank can book its trades. The so-called restricted banking license that Goldman Sachs has obtained allows it to take deposits of...

  • NEW YORK, Aug 18- James McCool, a longtime Charles Schwab Corp executive who most recently ran its client solutions group, has moved to a new position involving "key corporate strategic initiatives," according to a filing on Tuesday with the U.S. Securities and Exchange Commission. In November 2014, Schwab replaced Gill and John Clendening as co-heads of its retail...

  • LONDON, Aug 14- The year so far has been a good-news story for the top brass of equities trading, with big European investment banks and exchanges reporting bumper revenue and volume increases. While activity has been helped by a resurgence of volatility due to things such as the European Central Bank's bond-buying, Greece's fight to avert bankruptcy and the...

  • Aug 13- Goldman Sachs Group Inc is buying GE Capital Bank's U.S. online deposits, a move that will help the largest U.S. investment bank reduce its reliance on bond markets for funding. About $16 billion of deposits will be transferred to Goldman Sachs Bank USA, General Electric Co said in a statement on Thursday. GE agreed to sell its health care finance business...

  • The SEC said on Thursday that this was its first case against an underwriter for pricing-related fraud in the primary market for municipal securities. The 93- year-old investment firm's customers paid at least $4.6 million more than they should have for new bonds, the SEC said. The brokerage and its former head of municipal underwriting, Stina Wishman,...

  • Edward Jones to pay $20 mln for overcharging muni clients Thursday, 13 Aug 2015 | 10:04 AM ET

    Aug 13- Brokerage firm Edward Jones agreed to pay $20 million to settle charges that it the former head of its municipal underwriting desk had overcharged retail customers in new muni bonds sales, the U.S. Securities and Exchange Commission said. The SEC said it was its first case against an underwriter for pricing-related fraud in the primary market for...

  • Aug 11- Deal makers and employees at private equity firms are expected to receive the biggest bonus increases this year on Wall Street, according to a forecast by compensation consulting firm Johnson Associates. Advisers for mergers and acquisitions can expect a 10-20 percent rise in bonuses this year, and private equity employees can expect a 10-15 percent...

  • TORONTO, Aug 11- Canada's Toronto-Dominion Bank plans to hire more U.S. investment bankers and target multinational clients as it pushes to double its U.S. capital markets business over the next three to four years, one of its top executives said. TD Securities, the Canadian bank's capital markets division, is looking to invest in the energy, technology, media,...

  • NEW YORK, Aug 10- A man accused by U.S. prosecutors of running a $300 million penny-stock manipulation fraud that drove the market value of little-known Cynk Technology Corp past $6 billion pleaded not guilty on Monday. Gregg Mulholland, also known as "Stamps" and " Charlie Wolf," was arraigned on charges including securities fraud in an indictment recently filed in...

  • Top China broker's first-half profit jumps 1,180% Thursday, 6 Aug 2015 | 12:51 AM ET
    An investor is reflected on glass doors as he walks past in front of an electronic board showing stock information at a brokerage house in Shanghai.

    Everbright, one of China's largest securities brokerages, said its H1 profit surged almost tenfold amid the market turbulence.

  • LONDON, July 31- A surge of takeover activity involving healthcare, financial and retail companies lifted the value of deals in July over $430 billion, making it the seventh-busiest mergers and acquisition month on record, Thomson Reuters data showed. JPMorgan- in second place- advised on 30 deals with a value of $116.1 billion, and third-ranked Morgan Stanley...

  • LONDON, July 29- It is barely two weeks since Greece was on the brink of crashing out of the euro, yet some investment banks are now encouraging investors to return to its bond market. Although question remain over whether Greece will be able to stick to the terms of a new deal or will be back at the ballot box within the year, markets have breathed a collective sigh of...

  • TORONTO, July 24- Canadian mining-focused investment bank Edgecrest Capital has put itself on the auction block, hurt by a prolonged downturn in the natural resource sector that has hit fees and activity, according to two sources familiar with the situation. The move comes two years after Toronto- based Edgecrest, which is led by investment banker David Beatty,...

  • NEW YORK, July 24- The trustee liquidating the bankrupt brokerage unit of Jon Corzine's MF Global Holdings Ltd on Friday announced an agreement that would enable unsecured creditors to recoup nearly everything they are owed, and largely conclude the unit's nearly four-year liquidation. James Giddens, the trustee, said he would sell various claims held by the...

  • Big banks return to managing money, here's why... Friday, 24 Jul 2015 | 7:18 AM ET
    Big banks return to managing money, here's why...

    Jonathan Thomas, American Century CEO, discusses the return of big bank to wealth management. I think the country is under-served in this space, say Thomas.

  • HONG KONG, July 24- Private equity firms KKR& Co and TPG Capital are making poor returns on their investment in China International Capital Corp, the country's oldest investment bank that is readying an IPO but has struggled to compete with younger rivals. CICC, formerly led by Levin Zhu, the' princeling' son of former Chinese premier Zhu Rongji, filed late on...

  • ISTANBUL, July 22- HSBC is set to agree to sell its Turkish business to Dutch lender ING Group for around $700 million- $750 million in the next few days, two people familiar with the matter told Reuters on Wednesday. Acquiring HSBC's business would allow ING to roughly double its around $15 billion of assets in Turkey, putting it on better footing in a highly...

  • Goldman bets on European stocks, steers clear of U.S. Tuesday, 21 Jul 2015 | 10:48 AM ET

    LONDON, July 21- With market jitters over Greece receding, Goldman Sachs is advising clients to load up on European stocks at the expense of U.S. assets. The investment bank upgraded its short-term view on European equities to "overweight" from "neutral" in a note dated July 20, which cited the recent deal to start negotiating a new Greece debt package as one of the...