Buyers of junk bonds are retreating to the market's more obscure securities as the rise of exchange- traded funds fuels concern that such fast-moving cash is exacerbating price swings.
Former SAC Capital Advisors LP hedge fund manager Michael Steinberg was sentenced to three-and-a-half years in prison for insider trading, capping one of the biggest victories for prosecutors who spent seven years investigating the firm and its boss, Steven A. Cohen.
Martin Lack admitted that for 17 years he helped U.S. clients maintain secret overseas accounts.
Sarah Bianchi, the director of economic and domestic policy for Vice President Joe Biden, was hired as a managing director in its advisory unit.
Affiliated Managers Group Inc., the company that owns stakes in more than two dozen money managers, said first-quarter profit rose 11% as the rally in global stocks boosted assets under management.
Victims of R. Allen Stanford's $7 billion Ponzi scheme can sue outside companies and law firms alleged to have played a role in the fraud, the Supreme Court has ruled, dealing a setback to the securities industry.
Morgan Stanley will pay $490,000 to settle U.S. Commodity Futures Trading Commission allegations that the company failed to adequately oversee customer funds.
The Securities and Exchange Commission is poised to name a former executive of Wall Street's self-regulator as its top overseer of exchanges, brokerages and clearing firms, according to three people familiar with the matter.
Wall Street's bonus pool may rise as much as 10% this year for asset managers while fixed- income traders could see a 15% cut, according to compensation consultant Johnson Associates Inc.
The fundraising, which also includes new investors such as Ribbit Capital, is at least two weeks away from closing and final terms could change.
