The 30-year-old, from North Berwick, was the only Scottish contestant in the third season of the show. Tipped as a favourite ...

When the Federal Reserve started raising its benchmark rates in 2022, banks kept paying very little on sweep accounts. That ...

Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were ...

In the enforcement actions announced Friday, the regulator said the two firms agreed to settle the charges without admitting ...

Regulators took the wirehouses to task for not having policies directing advisors to consider clients' best interests.

The yield differential between the firms' bank deposit sweep programs and other alternatives was nearly 4% higher, according to SEC claims.

The firms failed to consider the best interests of clients when selecting cash sweep programs, the agency said.

“Wells Fargo Advisors and Merrill Lynch offered bank deposit sweep programs, or BDSPs, as the only cash sweep option for most advisory clients and received a significant financial benefit from ...

Investment adviser units of Wells Fargo & Co. and Bank of America Corp.’s Merrill shortchanged customers by funneling ...

The units charged by the SEC consented to the entry of orders without admitting or denying the SEC's findings. Wells Fargo Clearing Services agreed to pay a civil penalty of $28 million, Wells Fargo ...

(Reuters) -Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to ...