American Portfolios Financial Services, now part of Osaic, allegedly failed to abide by its stated policies regarding cash sweep fees, netting higher fees than promised.

The U.S. Securities and Exchange Commission has officially closed its yearlong investigation into Morgan Stanley’s cash sweep practices in advisory accounts—without recommending any enforcement action ...

FILE PHOTO: People exit the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C. (Reuters) -The U.S. Securities and Exchange Commission has ended its investigation ...

The financial advice industry’s skirmish over cash sweep accounts is taking another turn, with clearing giant Pershing evaluating plans to create a new charge, akin to a tax, on cash held by its ...

The announcement came as the first major fine imposed since regulators and plaintiffs' lawyers started scrutinizing over a year ago how large firms handle clients' uninvested cash. So-called sweeps ...

The Securities and Exchange Commission has formally concluded its investigation into Morgan Stanley’s advisory cash sweep program without pursuing any enforcement action, according to a regulatory ...

Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle Securities and Exchange Commission charges that they failed to pay advisory ...

PALO ALTO, Calif., Nov. 27, 2023 /PRNewswire/ -- The intuitive investment and trading platform moomoo has recently updated its Cash Sweep program in the US, with a compelling 5.1% annual percentage ...

Fidelity Investments is changing its policy on cash holdings so that more of clients’ uninvested funds wind up in a low-interest sweep account. Starting next year, Fidelity will put cash held in ...

To keep your spare cash growing, consider placing it in a high-yield savings account or investing in securities with strong return potential. Letting your money sit idle is a missed opportunity to ...