Schwab Reports Jump in Sweep Cash. The Stock Is Rising.
Higher sweep cash balances should enable Schwab to pay down short-term borrowings that have weighed on earnings.
LPL Discloses SEC Inquiry Into Its Cash Sweep Practices
The company is also being sued by investors for alleged breach of fiduciary duty because of the paltry interest rates it pays ...
Think Advisor9d
JPMorgan Is Latest to Be Sued Over Cash Sweeps
A customer says JP Morgan Securities swept client cash into Chase accounts paying interest as low as 0.01%. The firm paid far ...
Financial Planning9d
LPL, Morgan Stanley responding to regulators' new sweeps inquiries
The two firms are among the many wealth managers now being sued over allegations that they failed to obtain fair returns for their clients on their uninvested cash.
LPL Financial: Strong Regulatory Handling and Cash Sweep Program Drive Buy Rating
Morgan Stanley analyst Michael Cyprys has maintained their bullish stance on LPLA stock, giving a Buy rating on November 1. Michael Cyprys has ...
Just How Rich Is Interior Secretary Nominee Doug Burgum?
Burgum, a red-state governor and former chimney sweep, got rich in tech, making him one of the wealthiest Cabinets picks ...
JD Supra24d
Cash Sweep Programs Face Increasing Scrutiny from Regulators and Investors
Recent months have seen a significant increase in litigation around, and regulatory scrutiny by the SEC and FINRA of, cash sweep programs offered to retail advisory clients and brokerage customers.
Wells says uncertainty could weigh on LPL as cash sweep 10-Q raises eyebrows
Wells Fargo says that while LPL Financial’s 10-Q disclosure related to cash management certainly raises eyebrows, it’s important to keep in mind that the company’s approach ...