Sweep accounts automatically steer cash into bank or brokerage money market accounts that can earn ample interest at the ...

Bank of America has been hit with a new class action over its cash sweep program, with a New Jersey resident accusing the bank of automatically sweeping money into accounts with unreasonably low ...

The Securities and Exchange Commission has charged two registered investment advisor units of Wells Fargo and Merrill Lynch with compliance failures relating to their cash sweep programs. The firms ...

The Securities and Exchange Commission has formally concluded its investigation into Morgan Stanley’s advisory cash sweep program without pursuing any enforcement action, according to a regulatory ...

Wells Fargo, Merrill Lynch and Morgan Stanley are facing separate class action complaints accusing the wirehouses of generating “massive revenue” to the detriment of clients through their cash sweep ...