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Crypto lender Nexo pays $45 million in fines to SEC, states
INVESTING ALTERNATIVES JAN 19, 2023
Crypto lender Nexo pays $45 million in fines to SEC, states

The SEC said Nexo's Earn Interest Product amounted to a security that should have been registered with the agency.

Treasury taps retirement funds to avoid breaching debt limit
NEWS REGULATION AND LEGISLATION JAN 19, 2023
Treasury taps retirement funds to avoid breaching debt limit

Treasury Secretary Janet Yellen had previously estimated that such steps would likely keep the government running at least until early June.

Citi summons unproductive remote workers to office for coaching
YOUR PRACTICE PRACTICE MANAGEMENT JAN 18, 2023
Citi summons unproductive remote workers to office for coaching

Most Citigroup staffers are supposed to be in the office three days a week, but if their productivity dips, they can expect to spend more time there.

BNY Mellon to cut about 3% of staff
INVESTING ALTERNATIVES JAN 13, 2023
BNY Mellon to cut about 3% of staff

The bank says costs will be a top priority this year; it also says it's still committed to its digital assets strategy despite the turmoil in crypto markets.

JPMorgan accuses defector to Morgan Stanley of poaching clients
NEWS WIREHOUSES JAN 12, 2023
JPMorgan accuses defector to Morgan Stanley of poaching clients

Joseph Michael, who had worked at a JPMorgan bank branch in Michigan, has already persuaded about 32 clients to begin transferring their accounts, according to a complaint filed in court.

BlackRock plans to eliminate 500 positions in round of job cuts
YOUR PRACTICE PRACTICE MANAGEMENT JAN 11, 2023
BlackRock plans to eliminate 500 positions in round of job cuts

The firm will dismiss about 2.5% of its global workforce after grappling with sharp declines last year in equity and bond markets.

House votes to repeal funding increase for IRS
NEWS REGULATION AND LEGISLATION JAN 11, 2023
House votes to repeal funding increase for IRS

The funding fight could be bargaining chip at the center of upcoming debates over raising the debt ceiling and funding the federal government.

Digital media company expands into Wall Street recruiting
YOUR PRACTICE PRACTICE MANAGEMENT JAN 11, 2023
Digital media company expands into Wall Street recruiting

Litquidity, which has more than a million followers on Twitter and Instagram, is hoping to help connect its followers with jobs at private equity firms, hedge funds and other alternative asset managers.

Tiedemann eyes M&A after SPAC deal forges $60 billion wealth firm
NEWS INDUSTRY NEWS JAN 09, 2023
Tiedemann eyes M&A after SPAC deal forges $60 billion wealth firm

After completing a merger last week with Alvarium Investments through a blank-check company, the former banker is eyeing further deals.

Morgan Stanley operating chief Jon Pruzan exiting firm
YOUR PRACTICE PRACTICE MANAGEMENT JAN 09, 2023
Morgan Stanley operating chief Jon Pruzan exiting firm

The executive, who was once considered a potential CEO candidate, is leaving after a 28-year run.