Morgan Stanley quits brokerage industry pact on recruiting

Click to View in Browser Tuesday, October 31, 2017 Morgan Stanley quits brokerage industry pact on recruiting NEW YORK (Reuters) - Morgan Stanley is quitting a pact it signed with rival securities brokerages over a decade ago agreeing not to sue one another when brokers quit to join rivals and take clients with them. Exclusive: China's CDH, SenseTime raising about $450 million AI fund - sources HONG KONG (Reuters) - China's CDH Investments and Hong Kong-based start-up SenseTime Group are raising about 3 billion yuan ($453 million) to invest in firms working on artificial intelligence (AI) technology, two sources with knowledge of the matter told Reuters. Proxy adviser ISS sides against five Twenty-First Century Fox directors BOSTON (Reuters) - Proxy adviser Institutional Shareholder Services on Monday recommended investors vote against the re-election to the board of five Twenty-First Century Fox Inc directors, mainly citing concerns over a lack of action on executive pay. Ackman says ADP provided 'misleading' claims to ISS: filing BOSTON (Reuters) - Billionaire investor William Ackman on Monday accused Automatic Data Processing Inc of providing misleading and incorrect claims to Institutional Shareholder Services and asked the proxy advisory firm to reconsider its shareholder recommendations. U.S. investigating forex trading at Wells Fargo: WSJ (Reuters) - Federal prosecutors are investigating foreign-exchange trading at Wells Fargo & Co and have subpoenaed information from the firm, the Wall Street Journal reported, citing people familiar with the matter. SEC fines UBS $3.5 million for overcharging mutual fund customers (Reuters) - UBS AG will pay a $3.5 million civil fine to settle U.S. Securities and Exchange Commission claims that it overcharged customers on mutual funds, the regulator said on Friday. U.S. SEC close to forming group to scrutinize the bond market NEW YORK (Reuters) - The U.S. Securities and Exchange Commission has taken the first step in formally establishing an advisory committee to scrutinize the rules of the fixed income market and advise on potential reforms, according to a regulatory filing. Activist investors scupper $20 billion Clariant-Huntsman merger ZURICH (Reuters) - Swiss specialty chemicals maker Clariant and U.S. group Huntsman abandoned their $20 billion merger on Friday, notching a win for activist investors who fought the deal for months on the grounds it would destroy shareholder value. Risky assets heading for best year: BAML LONDON (Reuters) - Voracious investor appetite is set to make this by far the strongest year for inflows into stocks and corporate debt, Bank of America Merrill Lynch strategists said on Friday. Global insurers look to raise rates after catastrophic quarter (Reuters) - Insurers and reinsurers around the globe are looking to raise rates after what looks set to be their most costly quarter on record. Related Video Wall Street retreats from record Nick Colas on how the jobs report impacts the markets Related News Wall Street opens higher on strong earnings Apple could drop Qualcomm components in next year's iPhones, iPads: sources Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook