guardian.co.uk - Morgan Stanley survived the recent panic in financial markets, but its prime brokerage business may never fully recover.
More than a third of Morgan’s prime brokerage assets went out the door during the past month — some rivals said attrition could be as large as one-half — as investors unnerved by the credit crunch […]

Forbes - In an op-ed in the Financial Times on Monday , I described the unraveling and demise of the shadow banking system that started with non-bank mortgage lenders, structured investment vehicles (SIVs) and conduits, major independent monoline broker dealers and money market funds. I then argued that the next leg of this unraveling […]

West Palm Beach (HedgeCo.net) - Hedge fund Provider, Fidelity ActionsXchange, has appointed Laura J. Pollard as executive vice president and head of the company. Pollard will report to Larry C. Renfro, president of Fidelity Developing Businesses, a new division that comprises a number of growing businesses and strategic initiatives for Fidelity.
“Working in partnership with ActionsXchange’s […]

West Palm Beach (HedgeCo.Net) - The global Equities business of UBS announced the launch of Direct Market Access (DMA) for international clients to trade securities on the Bovespa stock exchange in Brazil. UBS is among the first broker-dealers to offer non-Brazilian clients direct electronic equities trading and execution in this major market.
Recent market regulation enacted […]

West Palm Beach (HedgeCo.Net)- The SEC has released a new `ComplianceAlert´ letter identifying common deficiencies and weaknesses that SEC examiners have found during recent compliance examinations of registered investment companies and broker-dealers.
The alert finds weakness in several areas including; personal trading by investment advisory employees, incomplete code of ethics, soft dollar practices, "Free lunch" sales […]

Boston Globe- Dozens of hedge funds and broker-dealers are scrambling to send reams of e-mails and trading records to regulators probing suspected stock price manipulation, several sources at hedge funds said.

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New York Post- Wall Streeters who suspect that hedge funds are behind false rumors about Lehman Brothers and other banks say they’re skeptical that regulators will be able to find and punish those responsible.
"I would love to have someone pinned and pilloried for doing this stuff," said one investment pro who says he […]

Boston Globe- The Securities and Exchange Commission yesterday said that it and other regulators would begin examining rumor-spreading intended to manipulate securities prices.

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Washington, D.C., Jan. 3, 2008 - The Securities and Exchange Commission has received and posted on its Web site the text of the RAND Corporation’s final report on practices in the investment adviser and broker-dealer industries. The Commission has been anxious to receive RAND’s study of the investment adviser and broker-dealer industries, and the nature […]