Subsequent Events	12 Months Ended
Dec. 31, 2012
Subsequent Events
Subsequent Events	28. Subsequent Events. The Company has evaluated subsequent events for adjustment to or disclosure in the consolidated financial statements through the date of this report and the Company has not identified any recordable or disclosable events, not otherwise reported in these consolidated financial statements or the notes thereto, except for the following: Common Dividend. On January 18, 2013, the Company announced that its Board of Directors declared a quarterly dividend per common share of $0.05. The dividend is payable on February 15, 2013 to common shareholders of record on February 5, 2013. Long-Term Borrowings. On February 25, 2013, the Company issued $4.5 billion in senior unsecured debt. Process Driven Trading. In 2011, the Company announced that it had reached an agreement with the employees of its in-house quantitative proprietary trading unit, Process Driven Trading (“PDT”), whereby PDT employees will acquire certain assets from the Company and launch an independent advisory firm. This transaction closed on January 1, 2013. During 2012, PDT did not have a material impact on the Company's financial condition, results of operations and liquidity. Regulatory Requirements. On January 1, 2013, the U.S. banking regulators' rules to implement the Basel Committee's market risk capital framework, referred to as “Basel 2.5,” became effective. American Taxpayer Relief Act. On January 2, 2013, the U.S. President signed into law the American Taxpayer Relief Act of 2012 (the “Act”). Among other things, the Act extends with retroactive effect to January 1, 2012 a provision of U.S. tax law that defers the imposition of tax on certain active financial services income of certain foreign subsidiaries earned outside of the U.S. until such income is repatriated to the United States as a dividend. As enactment of the Act was not completed until 2013, the provisions of the Act that benefit the Company's 2012 tax position will not be recognized until 2013. Accordingly, the Company will record an approximate $80 million benefit attributable to the Act's retroactive extension of these provisions as part of income taxes from continuing operations in the quarter ending March 31, 2013. Further, while the Company estimates a similar amount of benefit related to 2013 activities, the overall financial impact to the Company will depend upon the actual level, composition, and geographic mix of earnings. The current year effective tax rate would have been a benefit of 62.1% had the Act been enacted in 2012.

Subsequent Events

12 Months Ended

Dec. 31, 2012

28. Subsequent Events.

The Company has evaluated subsequent events for adjustment to or disclosure in the consolidated financial statements through the date of this report and the Company has not identified any recordable or disclosable events, not otherwise reported in these consolidated financial statements or the notes thereto, except for the following:

Common Dividend.

On January 18, 2013, the Company announced that its Board of Directors declared a quarterly dividend per common share of $0.05. The dividend is payable on February 15, 2013 to common shareholders of record on February 5, 2013.

Long-Term Borrowings.

On February 25, 2013, the Company issued $4.5 billion in senior unsecured debt.

Process Driven Trading.

In 2011, the Company announced that it had reached an agreement with the employees of its in-house quantitative proprietary trading unit, Process Driven Trading (“PDT”), whereby PDT employees will acquire certain assets from the Company and launch an independent advisory firm. This transaction closed on January 1, 2013. During 2012, PDT did not have a material impact on the Company's financial condition, results of operations and liquidity.

Regulatory Requirements.

On January 1, 2013, the U.S. banking regulators' rules to implement the Basel Committee's market risk capital framework, referred to as “Basel 2.5,” became effective.

American Taxpayer Relief Act.

On January 2, 2013, the U.S. President signed into law the American Taxpayer Relief Act of 2012 (the “Act”). Among other things, the Act extends with retroactive effect to January 1, 2012 a provision of U.S. tax law that defers the imposition of tax on certain active financial services income of certain foreign subsidiaries earned outside of the U.S. until such income is repatriated to the United States as a dividend. As enactment of the Act was not completed until 2013, the provisions of the Act that benefit the Company's 2012 tax position will not be recognized until 2013. Accordingly, the Company will record an approximate $80 million benefit attributable to the Act's retroactive extension of these provisions as part of income taxes from continuing operations in the quarter ending March 31, 2013. Further, while the Company estimates a similar amount of benefit related to 2013 activities, the overall financial impact to the Company will depend upon the actual level, composition, and geographic mix of earnings. The current year effective tax rate would have been a benefit of 62.1% had the Act been enacted in 2012.

- Definition

Tabular disclosure of significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business.

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