A major Japanese firm, SBI Securities Co., Ltd. will be using post-trade services from Broadridge Financial Solutions when it launches its equities brokerage services to clients in the U.K., through its subsidiary SBI Shinsei International Ltd., officials say. This arrangement will be an expansion of Broadridge’s existing relationship with SBI Securities “to process Japanese equities… Read More >>
FinTech Brief: Northern Trust to Support Costco’s DC Plan
Costco Wholesale Corp. has selected custodian bank Northern Trust to provide custody, daily valuation, and brokerage services for Costco’s defined contribution (DC) retirement plan, with $29 billion in assets, officials say. Costco, based in Seattle, is known as the world’s third-largest retailer and operates 861 warehouses, including 591 in the United States and Puerto Rico…. Read More >>
BB&T Securities Settles SEC Charges of Misleading Clients
BB&T Securities and the SEC have settled charges that a firm acquired by BB&T’s parent company allegedly misinformed advisory clients that they were getting discounted full-service brokerage services internally “while significantly less expensive options were available externally,” according to the SEC. Ultimately, the agreement requires BB&T Securities to return “more than $5 million to retail… Read More >>
