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Financial crime compliance costs reach $61B for financial institutions  
REGULATION AND LEGISLATION FEB 22, 2024
Financial crime compliance costs reach $61B for financial institutions  

LexisNexis report reveals almost all firms in the US and Canada are affected.

Nvidia earnings outpacing its stock, which is still relatively cheap
INDUSTRY NEWS FEB 22, 2024
Nvidia earnings outpacing its stock, which is still relatively cheap

With AI soaring, the chipmaker keeps delivering for investors.

Private credit for infrastructure is soaring, at banks' expense
INDUSTRY NEWS FEB 22, 2024
Private credit for infrastructure is soaring, at banks' expense

The market is set for long-term growth amid energy transition.

Nikkei smashes 1989 record to enter uncharted territory
INDUSTRY NEWS FEB 22, 2024
Nikkei smashes 1989 record to enter uncharted territory

Asian tech stocks are rallying and Japan’s equities are on fire.

One of Wall Street's highest-flying women is reportedly quitting
BROKER DEALERS FEB 22, 2024
One of Wall Street's highest-flying women is reportedly quitting

Goldman Sachs executive had been tipped for CFO and other top roles.

Summit Partners enters RIA venture with former exec at First Republic
RIAS FEB 21, 2024
Summit Partners enters RIA venture with former exec at First Republic

The former wealth head of the failed regional bank is building a new platform to attract high-net-worth wirehouse teams.

SEC bars financial advisor indefinitely
REGULATION AND LEGISLATION FEB 21, 2024
SEC bars financial advisor indefinitely

Connecticut-based Andrew Komarow had been barred by Finra in June.

A government site for all your 401(k) data?
RETIREMENT PLANNING FEB 21, 2024
A government site for all your 401(k) data?

The Government Accountability Office wants Congress to mandate a national 401(k) dashboard.

Former Triad broker's medical company loses Florida real estate judgment
ALTERNATIVES FEB 21, 2024
Former Triad broker's medical company loses Florida real estate judgment

"This is more bad news," says a plaintiff's attorney.

‘Legal’ insurance tax break blasted
LIFE INSURANCE AND ANNUITIES FEB 21, 2024
‘Legal’ insurance tax break blasted

Senate Finance Committee targets private placement life insurance as a 'booming tax dodge' for the wealthy.

Regulatory change could bring 'thousands' of new ETFs
ETFS FEB 21, 2024
Regulatory change could bring 'thousands' of new ETFs

A number of other asset managers have asked the SEC to allow them to replicate the fund model, used exclusively by Vanguard for more than two decades, that lets an ETF be listed as a share class of a broader mutual fund.

Biden administration cancels $1.2B of federal student loans
INDUSTRY NEWS FEB 21, 2024
Biden administration cancels $1.2B of federal student loans

The move wipes out loans for those who borrowed less than $12,000 for their higher education.

LPL Financial welcomes another veteran advisor
BROKER DEALERS FEB 21, 2024
LPL Financial welcomes another veteran advisor

The advisor, based in North Carolina, oversaw roughly $130 million in assets at Osaic.

Citi boosts CEO Jane Fraser's pay to $26M
BROKER DEALERS FEB 21, 2024
Citi boosts CEO Jane Fraser's pay to $26M

The increase comes after Fraser initiated what's billed as the largest reworking of Citigroup in decades.

World's biggest wholesale banks face slowdown in growth, warns Bain & Co.
INDUSTRY NEWS FEB 21, 2024
World's biggest wholesale banks face slowdown in growth, warns Bain & Co.

Growth could even turn negative as era of cheap money and ultra-low rates ends.

Most financial services firms preempting crypto regulations with employee policies
ALTERNATIVES FEB 21, 2024
Most financial services firms preempting crypto regulations with employee policies

Almost half of firms say they already have a policy, and more intend to add one this year.

Emerging-market stocks set to erase losses as valuations entice investors
INDUSTRY NEWS FEB 21, 2024
Emerging-market stocks set to erase losses as valuations entice investors

After a $1 trillion wipeout, emerging markets are back in favor.

Hedge funds have cut back on Magnificent Seven holdings
EQUITIES FEB 21, 2024
Hedge funds have cut back on Magnificent Seven holdings

Funds were net sellers of big tech stocks in the fourth quarter.

HSBC commits to slashing carbon footprint in capital markets
ESG FEB 21, 2024
HSBC commits to slashing carbon footprint in capital markets

The global banking group becomes one of the first to set targets.

‘Sobering’ report shows increasing reach of fintech over traditional firms
FINTECH FEB 21, 2024
‘Sobering’ report shows increasing reach of fintech over traditional firms

About a quarter of Americans have tried a tech-based savings or investing service, and companies with scale are getting the most business, a report from Hearts & Wallets finds.