Brokerage Alpine Securities Corp. lost its bid to challenge National Securities Clearing Corp.'s disciplinary power and refined “excess net capital” requirements, a federal judge ruled.
Cash sweep programs have turned into a bit of a viper’s nest for the financial advice industry, particularly large ...
In November, Wells Fargo said it had hired another Apex Clearing executive, George Tamer, to a senior role at its RIA ...
The main firm responsible for clearing US stock trades plans to extend its hours of operation to support the growing interest ...
According to the 2022 complaint, Cambridge’s RIA had since 2014 put clients in “no-transaction fee” mutual funds and money market cash sweeps that juiced revenue for the broker-dealer from clearing ...
Historically, executing brokers and clearing brokers have operated independently of exchanges and clearinghouses, but in recent years a few companies have combined these functions within a single ...
“The [broker-dealer’s] revenue sharing agreements with the clearing brokers created financial incentives for CIRA to select investments that would lead to greater compensation to [Cambridge ...
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