Posts tagged with: "financial+services"
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4 May 2012, 5:57 pm by D. Daxton White
Woodbury Financial Services, Inc. (CRD #421, Oakdale, Minnesota) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $45,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to establish, maintain and enforce an adequate system to review equity trades for excessive trading. Excessive trading, often called quantitative suitability, generally relates to any time a… [read post]
27 Jan 2012, 6:48 am by D. Daxton White
Woodbury Financial Services, Inc. (CRD #421, Oak Dale, Minnesota) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $75,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that a firm registered representative converted approximately $990,000 from the firm’s customers, through separate wire requests; these wire requests directed that funds be withdrawn from the firm’s… [read post]
20 Jun 2011, 4:26 am by By DEALBOOK
The deal will allow PNC to expand into the Southeast, and includes 424 branches in North Carolina, Florida, Alabama, Georgia, Virginia and South Carolina. [read post]
27 Jan 2012, 7:22 am by D. Daxton White
Hantz Financial Services, Inc. (CRD #46047, Southfield, Michigan) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $50,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that the firm failed to establish and maintain an adequate supervisory system to ensure that it immediately recorded on the firm’s books and records checks its customers mailed to the firm. The findings… [read post]
27 Jan 2012, 6:55 am by D. Daxton White
Capital Financial Services, Inc. (CRD #8408, Minot, North Dakota) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and ordered to pay $200,000 in restitution to investors. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to have reasonable grounds to believe that private placements offered by two entities pursuant to Regulation D were suitable for any customer. The findings… [read post]
6 Sep 2013, 9:52 am by D. Daxton White
According to reports, five brokerage firms agreed to pay an additional $10.7 million in restitution to investors who purchased non-traded real estate investments (REITs). Back in May the five firms agreed to pay $6.1 million in restitution and $975,000 collectively in fines, following an investigation by Massachusetts regulators into the sale of non-traded REITs. The payments from five firms involved include 7.6 million from Securities America, $1.6 million from Ameriprise Financial Services,… [read post]
7 Mar 2013, 9:01 am by D. Daxton White
E.S. Financial Services, Inc. (CRD #104316, Miami, Florida) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $200,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it served as a placement agent and solicited certain non-U.S. persons to invest in a commercial paper program offered by a firm affiliate located 2013 outside the United States. The commercial paper… [read post]
8 Oct 2010, 11:17 am by By DEALBOOK
Bank of America, the country's largest bank, is halting all foreclosure proceedings and sales of foreclosed homes indefinitely. [read post]
7 Apr 2011, 7:26 am by By DEALBOOK
The PNC Financial Services Group is raising its quarterly payout to 35 cents a share from 10 cents and plans to spend as much as $500 million this year buying back stock. [read post]
22 Jun 2011, 5:52 pm by By MICHAEL J. DE LA MERCED
"Too small to succeed" is expected to drive consolidation in the industry, but many bank buyers are choosing to wait. [read post]
3 Nov 2010, 10:52 am by By NELSON D. SCHWARTZ
Underscoring its goal of slimming down and shedding noncore assets, Bank of America said it would sell the majority of its stake in BlackRock. [read post]
19 Jun 2011, 2:18 pm by By MICHAEL J. DE LA MERCED
The deal for Royal Bank of Canada's American retail banking unit would help the PNC Financial Services Group expand into the Southeast. [read post]
22 Jul 2010, 4:19 pm by By DEALBOOK
Citigroup and Goldman Sachs are among the 17 companies that the special master for executive pay is expected to spotlight for making lavish payouts during the financial crisis. [read post]
17 Sep 2010, 4:25 am by By DEALBOOK
Citigroup said Friday that it will sell its big student loan business to Sallie Mae and Discover Financial Services, a transaction it has sought as part of the bank's reorganization. [read post]
20 Jul 2011, 5:51 am by By ERIC OWLES
The PNC Financial Services Group posted a second-quarter profit of $912 million, up 12 percent from the period a year earlier, benefiting from strong gains in retail banking and asset management as well as improving credit conditions. [read post]
4 Nov 2010, 4:16 am by By DEALBOOK
The Abu Dhabi Investment Authority, one of the world's largest sovereign wealth funds, has named a top executive from Zurich Alternative Asset Management as the new chief investment officer of its private equity unit, Pensions & Investments reported. [read post]
7 Oct 2011, 5:00 pm by By MICHAEL J. DE LA MERCED
American Banker's award gala for the top women in banking was more subdued than in previous years, reflecting the Wall Street protests and the death of Steve Jobs. [read post]
6 Feb 2014, 9:42 am by By MICHAEL CORKERY
The office of Benjamin Lawsky, the superintendent of New York’s Department of Financial Services, has halted the transfer of about $39 billion in servicing rights to Ocwen from Wells Fargo. [read post]
17 Dec 2009, 11:28 am by structuredsettlements
Good news about The HartfordMoody's Investors Service changed its ratings outlook on The Hartford Financial Services Group Inc. (HIG) to stable from developing, saying the struggling life insurer's capitalization and financial flexibility has improved. [read post]
13 Apr 2010, 4:27 pm by By DEALBOOK
Lawmakers are moving into financial jobs as Wall Street seeks to weaken a proposed regulatory overhaul by hiring those who wrote the rules. [read post]