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sleeptrain123 t1_iu4b0li wrote

Some do, but they’re distinct entities and the funds are completely ring fenced. Wells Fargo, Schwab, JPM etc…the banks and asset management arms are separate legal entities. A bank can’t invest deposits in anything they want. Asset managers are typically bound by the SEC and the investment company act of 1940, banks are under supervision of the fed. The regulatory scrutiny of banks is much higher.

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