Wednesday's Headlines: More CFA candidates pass Level 3 exam

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More Chartered Financial Analyst candidates passed the Level 3 exam this year compared to last, according to the CFA Institute, Bloomberg News reports.

The Institute says 51% of applicants passed the exam, compared to 46% last year. Previously, the Institute said 39% passed Level 1 and 43% passed Level 2.

A record 144,900 candidates registered to take the three CFA exams in June, aiming to gain a hiring edge after the number of U.S. financial-industry jobs dropped for four straight years. Applicants take the test hoping the certification can lead to better jobs, higher salaries and a deeper understanding of finance.

Other Headlines:

Canadian banks see opportunities as US and European banks falter. [Reuters]

US have sufficient capital despite weak earnings and low interest rates, analyst says. [Bloomberg]

Wall Street firms likely to cut 5-10 percent more jobs as early as September. [New York Post]

PCAOB is reviewing rules on rotating auditors of public companies every five years. [New York Times]

Goldman Sachs' Mullen outbid by actor Alec Baldwin at Hampton art auction. [Bloomberg]

Citi Capital Advisors takes over management of CLOs worth $2 billion from DiMaio Ahmad Capital. [Hedge Fund Net]

Billionaire Warren Buffett ups stake in Wells Fargo as prices dip.[Bloomberg]

Soros hedge fund cuts Citigroup and Wells Fargo stakes. [Wall Street Journal]

Lansdowne hedge fund adds Bank of America stake, cuts Wells Fargo and JP Morgan. [Bloomberg]

Bank of America may sell Merrill Lynch property assets to Blackstone Group for up to $1 billion. [DealBook]

Ladenburg Thalmann Financial Services to buy Ameriprise's Securities America for more than $150 million. [Investment News]

HSBC Trinkaus in talks to buy WestLB's corporate finance, other units. [Financial Times]

London lost 10% financial services jobs in July on concerns about economy. [Bloomberg]

UK's FSA fines two hedge fund managers, bans them from future work for deceiving investors. [Telegraph]

UK's Evolution bank eyed by Investec, other potential buyers. [Financial Times]

Chinese brokerage Southwest Securities to buy rival Guoro Securities for $1.7 billion. [Reuters]

Inadequate European regulation may hurt financial system, IIF says. [Dow Jones]

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