Tuesday, October 4, 2011

U.S. and New York Sue Bank of New York Mellon Over Foreign Exchange Fees

Eric Dash and  Peter Lattman, The New York Times , October 4th 2011

Bank of New York Mellon has been charged by two civil suits for consistently overcharging its customers when processing foreign currency transactions. The bank would have cash around US$2 billion.

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Monday, October 3, 2011

A Hesitant Revolution In Paying For Financial Advice

marketriders.com, October 3rd 2011

In the UK, financial advisors have until the 31.12.2012 to amend the way they do business and bill their client for the investments advice they provide. They will not be entitled to receive kickbacks from funds or banks anymore. This is a huge steps towards more transparency and less conflict of interest. Let’s hope that other European countries will follow.

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