DBRS affirms ratings on UBS, Credit Suisse, but outlook is negative
Sector's competition, regulation and risk will all be transformed, Fitch says
FINRA fined the firm for long-standing compliance issues
SEC sanctions firms for pervasive record-keeping violations
Firms didn't have adequate programs for spotting red flags
The US$8.1-million settlement will be distributed to harmed investors
Stable income, rising wealth a bright spot for big global investment firms
New winners and losers could change capital allocation decisions
Survey finds wealthy investors hold 25% of their holdings in cash
The drop is described as a natural correction, given market conditions