Fidelity Facing 'thousands' Hit by Facebook Woes

NEW YORK (Reuters) - Fidelity Investments is working with "thousands" of brokerage clients affected by trading problems in Facebook Inc, according to a source familiar with the situation. The much-anticipated social media site's initial public offering has been steeped in controversy since it started trading on Friday. Much of the controversy stemmed from a Nasdaq glitch that delayed the stock's trading by 30 minutes. (Reporting By Jessica Toonkel; Editing by Gerald E. McCormick)

By Tim McLaughlin BOSTON (Reuters) - Benjamin Hesse's 1-year return as a stock picker in the brokerage and investment sector crushed most of his competition. But apparently the Fidelity fund manager's 53 percent return at the $717 million Select Brokerage and Investment Management Portfolio, wasn't good enough. Hesse, who has been inconsistent, was replaced late last month as manager of multiple funds with combined assets of more than $1 billion, Fidelity Investments said on Tuesday. Boston-based Fidelity didn't give a reason for the change. But the No. 2 U.S. ...

By Tim McLaughlin BOSTON (Reuters) - Fidelity Investments, the largest provider of U.S. money market funds, said on Tuesday it would support imposing a 1 percent redemption fee on large institutional money funds during times of extreme market stress. The $2.5 trillion money fund industry has been battling U.S. regulators over reform proposals that Boston-based Fidelity and other providers say could wreck the industry. But in recent weeks, Fidelity has acknowledged that institutional prime money market funds are vulnerable to large, abrupt redemptions in times of financial turmoil. ...

NEW YORK (Reuters) - Fidelity Investments is working with "thousands" of brokerage clients affected by trading problems in Facebook Inc, according to a source familiar with the situation.

(Reuters) - Fidelity Investments, which has one of the largest U.S. online brokerages, told retail customers that it expects U.S. markets to open Wednesday for normal trading. "U.S. markets are expected to open normally on Wednesday October 31," Fidelity said on Tuesday in a message to customers on its brokerage site. "Orders entered since 4:00 pm EST Friday October 26 will be eligible for execution when trading resumes." Fidelity was not immediately available for further comment. (Reporting By Tim McLaughlin)

(Reuters) - An arbitration panel ordered Morgan Stanley Smith Barney to pay at least $534,000 t