Morgan Keegan ordered to pay award to former NBA player, WSJ reports Wall Street's Financial Industry Regulatory Authority ordered Morgan Keegan & Co. (RF) to pay former NBA basketball player Horace Grant the award issued by an arbitration panel by early next month or face suspension, reports the Wall Street Journal. Morgan Keegan, says its license isn't in jeopardy, and has paid Grant $1.59M for losses in its mortgage-backed bond funds but disputes the rate of interest that should apply on the award. Reference Link
Regions Financial sees long-term EPS CAGR of 12%-15% Sees long-term efficiency ratio of under 60% by eliminating $300M in expenses over next three years to fund revenue-producing businesses while keeping expenses flat to slightly up. Sees long-term ROATCE of 12%-14%.