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'Time has come' for Fed rate cuts, says Powell
INDUSTRY NEWS AUG 23, 2024
'Time has come' for Fed rate cuts, says Powell

The Federal Reserve chair has solidified the central bank's plans to begin lowering borrowing costs as confidence on inflation grows.

Raymond James recruits seasoned advisor in New Jersey
BROKER DEALERS AUG 23, 2024
Raymond James recruits seasoned advisor in New Jersey

The $140M advisor from Benjamin F. Edwards joins Raymond James Financial Services with around two decades of experience.

529s, loans, credits ... financial strategies for back-to-school planning
INDUSTRY NEWS AUG 23, 2024
529s, loans, credits ... financial strategies for back-to-school planning

Advisors share planning ideas, and some lessons learned, to help ensure clients' kids are getting an education.

Florida men plead guilty to $3M fraudulent tax return scheme
INDUSTRY NEWS AUG 23, 2024
Florida men plead guilty to $3M fraudulent tax return scheme

IRS was persuaded to pay out $1.5M in falsely claimed refunds.

Markets expect Fed chair to play it safe with Jackson Hole speech
INDUSTRY NEWS AUG 23, 2024
Markets expect Fed chair to play it safe with Jackson Hole speech

But there is always the potential for shocks.

Why are family offices losing interest in private credit funds?
INDUSTRY NEWS AUG 23, 2024
Why are family offices losing interest in private credit funds?

Industry data shows weakened interest for the months ahead.

ESG regulation is risk for commodities, warns Jefferies
INDUSTRY NEWS AUG 23, 2024
ESG regulation is risk for commodities, warns Jefferies

New rules affect firms trading with the EU.

UBS loses US activism defense staff to BofA, Wells Fargo
INDUSTRY NEWS AUG 23, 2024
UBS loses US activism defense staff to BofA, Wells Fargo

Sources report several team members have jumped ship.

Stocks have recovered from summer selloff, but bears are lurking, strategists say
INDUSTRY NEWS AUG 22, 2024
Stocks have recovered from summer selloff, but bears are lurking, strategists say

The market may have recovered from its summer swoon, but fall has historically been a rocky time for stocks.

Barclays hammered with $1.25M fine over fingerprinting lapses
REGULATION AND LEGISLATION AUG 22, 2024
Barclays hammered with $1.25M fine over fingerprinting lapses

Finra has penalized the Wall Street brokerage for failures dating back to at least 2013 and involving thousands of its non-registered employees.

Barred broker faces 12-year sentence for defrauding Gold Star families
REGULATION AND LEGISLATION AUG 22, 2024
Barred broker faces 12-year sentence for defrauding Gold Star families

The ex-financial counselor for the US Army has been ordered to pay $1.4M for orchestrating a multimillion-dollar churning scheme.

B. Riley-backed Franchise Group gets slight reprieve from lenders
INDUSTRY NEWS AUG 22, 2024
B. Riley-backed Franchise Group gets slight reprieve from lenders

A group of first-lien debt holders have made some concessions as the troubled firm tries to dig out of its $1.5B debt hole.

Structuring portfolios with a global mindset
INDUSTRY NEWS AUG 22, 2024
Structuring portfolios with a global mindset

Michael Godwin, of Fragasso Financial Advisors, cautions against assumption that a soft landing is a given for US economy.

The rise of AI in compliance handling
INDUSTRY NEWS AUG 22, 2024
The rise of AI in compliance handling

“You need the human being behind the data,” insists compliance legal expert.

Morgan Stanley’s Bloomer confirmed dead in superyacht tragedy
INDUSTRY NEWS AUG 22, 2024
Morgan Stanley’s Bloomer confirmed dead in superyacht tragedy

Authorities are continuing their efforts to investigate the disaster that took the life of the 70-year-old veteran leader.

SEC commissioner pans regulator’s latest pay-to-play order
REGULATION AND LEGISLATION AUG 22, 2024
SEC commissioner pans regulator’s latest pay-to-play order

The regulator’s “inquisition” against campaign contributions could have a chilling effect on political participation, the dissenting official warned.

RBC Wealth Management expands in Ohio with $693M team from Morgan Stanley
ADVISOR MOVES AUG 22, 2024
RBC Wealth Management expands in Ohio with $693M team from Morgan Stanley

The wealth firm’s newest branch in Cincinnati is operated by a multi-generational team that includes a 29-year veteran advisor.

Court partially reinstates advisor’s securities fraud claims against Macquarie Infrastructure
REGULATION AND LEGISLATION AUG 22, 2024
Court partially reinstates advisor’s securities fraud claims against Macquarie Infrastructure

“Half truth” claims allowed against giant holdings company that took millions in management fee.

Raymond James continues RJA recruitment streak with Morgan Stanley tandem
ADVISOR MOVES AUG 22, 2024
Raymond James continues RJA recruitment streak with Morgan Stanley tandem

The two advisors who reportedly managed over $360M extend the broker-dealer giant’s reach in Florida and Colorado.

Edward Jones expands financial services offerings in branches
INDUSTRY NEWS AUG 22, 2024
Edward Jones expands financial services offerings in branches

The firm is leveraging existing partnerships for enhanced services.