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Real-time News
Ukrainian President Volodymyr Zelensky has proposed replacing Prime Minister Sviridenko.July 12th - The clearing out of securities brokers may be accelerating. Industry sources indicate varying degrees of enforcement regarding broker elimination. Some local bureaus emphasize standardized elimination processes but lack a unified timetable; regulators will subsequently review the compliance of these processes. Data shows that the number of brokers in the securities industry has decreased by nearly 12,000 since 2025. As early as 2024, regulators conveyed that securities firms should adapt to the transformation towards wealth management and gradually eliminate brokers. Currently, some leading securities firms have largely completed this process, while smaller firms still have a significant number of brokers. Some securities firms have stated that they will accelerate the elimination process by combining leading practices, regulatory guidance, and industry trends, but will adopt a stable approach, such as not renewing contracts upon expiration and performance-based layoffs. They will also simultaneously adjust traditional commission-dependent models to align with the wealth management transformation. During the elimination process, qualified brokers can be transferred to formal positions such as wealth managers or investment advisors. Regarding potential customer attrition, industry insiders believe that given the overall industry is in a broker elimination phase, the overall impact of customer loss will be minimal, with only some regions potentially experiencing minor disruptions.Iraqi government spokesperson: The Iraqi prime minister will sign several oil and gas memorandums of understanding during his visit to Washington.Iraqi government spokesperson: The Iraqi prime minister will travel to Washington on Monday.According to a Wall Street Journal survey, the probability of a U.S. recession has fallen to 25%, down from 33% in April.
