For a number of years, Massachusetts had received a failing grade on its efforts to produce financially literate high school graduates. A new law signed by Gov. Charlie Baker in January hopes to change that.
JPMorgan Chase & Co. will pay $2.8 million to settle charges that a broker-dealer unit lacked sufficient controls to safeguard customer securities from several countries over more than eight years, a U.S. regulator said on Wednesday.
Banking regulations require that financial institutions implement robust systems to monitor, manage and control risks related to investment activities.
Financial Industry Regulatory Authority said on Monday it ordered Wall Street investment bank and securities brokerage Morgan Stanley to pay $13 million in fines and restitution to clients for inadequately supervising certain short-term trades.
The Financial Industry Regulatory Authority said it fined several Wells Fargo & Co. businesses, RBC Capital Markets, LPL Financial and others a combined $14.4 million on Wednesday for record-keeping problems that may have allowed company and customer documents to be altered.
Wells Fargo & Co. fired hundreds of brokerage employees for improper sales practices, three U.S. senators said on Thursday, widening the scope of a scandal which the fourth-largest U.S. bank has so far characterized as a retail banking problem.
