Osaic and three subsidiaries were sued today in federal court by investors who alleged the firms breached their fiduciary duties by profiting from their cash sweep accounts at their clients’ expense.

BNY Pershing’s plans to create a new charge on client cash held in accounts of RIAs that custody with Pershing and broker-dealers that use it for clearing are taking shape, with senior industry ...

In recent years, the US Securities and Exchange Commission (SEC) has initiated several probes into how advisory firms manage their cash sweep programs, which are designed to transfer idle cash from ...

You might not think about the idle cash in your brokerage account very often. But behind the scenes, your money may be earning your brokerage company a lot more interest than it is earning you. Cash ...

Cash sweep account options have long been a source of contention. These programs, used by major broker-dealers as a short holding place for client cash that is between investments, are often ...

A new lawsuit against LPL Financial purports to lift the veil on just how dependent some wealth managers have become on so-called cash sweeps for profits. A putative class action suit filed against ...

Automated sweeps into high-yield accounts enable fintechs to offer better returns and enhanced insurance for their customers, with Bluevine leading the way as a pilot client SALT LAKE CITY--(BUSINESS ...

Osaic is the latest firm to face a class action lawsuit targeting its cash sweep practices. In the suit filed in Arizona federal court, plaintiff Robert Gehring argued the firm “underpaid their ...

Wells Fargo faces another potential class action lawsuit in the growing controversy embroiling the bank’s cash sweep deposit programs. Scotch Plains, N.J.-based Daniel Varady filed his suit seeking a ...

State Street's (STT) Investment management arm and an affiliate of Galaxy Digital (GLXY:CA) (BRPHF) (GLXY) teamed up to launch the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a move to ...