Stifel, Nicolaus & Co., Inc., an investment bank, has been fined $3.6 million by FINRA, a regulatory authority for the financial services industry, for allegedly having an inadequate supervisory system in place to detect potentially unsuitable unit investment trust (UIT) rollovers, and also for failing to provide customers with accurate information so they can make… Read More >>
Piper Jaffray Will Acquire Weeden & Co.
Piper Jaffray Companies, which encompasses an investment bank and asset management firm, has acquired 100 percent of broker-dealer Weeden & Co. in a move that will combine Weeden’s agency execution support for equities with Piper’s research sales platform. The combination will target institutional clients requiring execution services, officials say. “The combined trading platform will be… Read More >>
Maybank Kim Eng Unifies Asian Trading via New Platform
The investment banking and equities trading units of Maybank Kim Eng have gone live with a new order management and execution platform intended to help the firm unify its regional trading support and bolster global growth, according to bank officials. Maybank Kim Eng is using trading technology from vendor Fidessa, and went live in November… Read More >>
SunGard Said to Explore a Second IPO: Reuters
SunGard is apparently making the rounds at investment banks, looking for an adviser to help take the financial technology vendor go public soon, according to a report by the Reuters news service. SunGard could be valued at up to $10 billion and will be interviewing investment bankers as early as next week, according to Reuters,… Read More >>
Eric Cantor Lands Job at Moelis & $800K
Former House Majority Leader Eric Cantor has joined boutique investment bank Moelis & Co. as a vice chairman and member of the board, and will receive an $800,000 windfall, according to a filing with the SEC. Cantor will receive a base salary of $400,000 and an initial cash payment of $400,000, along with $1 million… Read More >>
