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JPMorgan, HSBC, UBS Win Big On Madoff

Madoff Mini-Me

The trustee seeking money for Bernard Madoff's victims suffered a big defeat as a federal appeals court rejected his bid to recover nearly $30bn from JPMorgan Chase and other banks he accused of aiding in the swindler's fraud.

A 'Historic Day' For Morgan Stanley

Morgan Stanley HQ

Morgan Stanley announced Friday that it has received all regulatory approvals to acquire the remaining 35% interest in Morgan Stanley Smith Barney Holdings LLC (MSSBH) from Citigroup, fulfilling a key strategic priority. Upon the close of the purchase, Morgan Stanley will own 100% of the business, which operates under the name Morgan Stanley Wealth Management.