Jun 1, 2006
Not when it comes to the interests of an advisor's client. They win out over your firm's dictates every time, though an advisor should be diplomatic in dealing with their supervisors...
May 1, 2006,
By Bill Singer
NASD's baffling approach to Written Supervisory Procedures...
May 1, 2006,
BY HALAH TOURYALAI
A labor lawyer, armed with depression era law that was originally intended to protect blue-collar workers, is threatening Wall Street's age old compensation structure. Do you deserve to be paid overtime? Sick of paying your assistants salary?...
May 1, 2006,
BY KRISTEN FRENCH AND ANN THERESE PALMER
Arbitration used to be relatively quick and cheap. Not anymore, and no one - not firms nor lawyers, nor brokers, nor customers - seems to like it. What to do?...
May 1, 2006
What's an advisor's obligation when an elderly client wants to liquidate her investment portfolio, which consists entirely of stocks...
Apr 1, 2006,
John Churchill
Small hedge fund managers positive but wary...
Apr 1, 2006,
By Kristen French
Can you justify your fees?...
Apr 1, 2006,
John Churchill
Merrill Lynch agreed to pay a $5 million NASD fine to settle charges that the firm's brokerage client call centers were poorly supervised. ...
Apr 1, 2006
When a former co-worker sets out to ruin an advisor's reputation it may be extremely difficult to extract any justice, much less the smudge on his reputation...
Apr 1, 2006,
By Bill Singer
How a visit to the doctor resulted in a five year ban....
Feb 1, 2006,
John Churchill
The brokerage industry will always loathe regulation. And it's safe to say brokers weren't raising pints of ale to the announcement in January that Mary...
Feb 1, 2006,
By Kristen French
Our interests may not always be the same as yours. Imagine telling your clients that. And then imagine saying 20 minutes later, But now that we're discussing...
Feb 1, 2006,
By Bill Singer
Brokers must take tests. It's a fact of Wall Street life. That some people will go too far in an effort to pass them is sadly a fact of industry life,...
Feb 1, 2006,
By John Churchill
The mechanics of regulatory bodies only occasionally attracts the interests of rank-and-file advisors, like back in 1996 when the Nasdaq market was nailed...
Feb 1, 2006,
Ann Therese Palmer
What does an advisor do when clients at his firm are routinely charged an undisclosed commission on top of fees and he suffers for not falling in line?...
Feb 1, 2006,
John Churchill
Penitence Pays Off for Putnam: The SEC filed charges against six former officers of Putnam Fiduciary Trust Company (PFTC) for helping to defraud a defined...
Jan 1, 2006,
John Churchill
After stepping into the ring last spring with California Attorney General Bill Lockyer over fund disclosure practices, American Funds recently knocked...
Jan 1, 2006
Q: I had an oral contract with my partner that I would inherit his $40 million book when he retired in two to three years, but he was laid off in the...
Jan 1, 2006,
Kevin Burke
Eliot Spitzer may have fired the final cannon blast in his 27-month assault on the mutual fund industry. The crusading New York attorney general reached...
Jan 1, 2006,
John Churchill
Congregation Con man: James Upshaw didn't need fancy performance charts in order to convince 144 people to entrust him with a combined total of $3.2 million...
Dec 1, 2005
Q: As a nonproducing registered representative who acts in a purely operational and/or compliance capacity, how much are we expected or allowed to make...
Dec 1, 2005,
By Andrew Osterland
Nothing ruins a Sunday afternoon football game for Roy Diliberto more than one of those ads about stockbrokers who are unusually committed to their clients....
Dec 1, 2005,
By Bill Singer
Andrew Davis Mills was a salesperson and assistant manager in the women's shoe department at Nordstrom's in San Diego. Apparently, Mills and his colleagues were having some difficulty meeting their monthly sales quota the old-fashioned way. So, these enterprising employees came up with a foolproof scheme: Use their own credit cards to purchase enough shoes to meet their monthly quota, then return the purchases for full credit....
Dec 1, 2005
Terry Kassel, head of Merrill Lynch's human resources department, will be retiring at the end of this year, after 20 years with the firm and four years...
Dec 1, 2005,
John Churchill
Hackers Beating the Market: The SEC is suing Estonian investment bank Lohmus Haavel & Viisemann of Tallinn, Estonia, and two employees, for gaining access...
Nov 1, 2005
Cooked Books: Philip Bennett, former CEO of Refco Inc., the largest independent commodities and futures exchange, was arrested on securities fraud charges...
Nov 1, 2005,
John Churchill
Theodore Sihpol III, a former broker at Banc of America Securities (BAS), and poster boy for the market-timing scandals and the first target of Spitzer...
Nov 1, 2005,
By Lauren Barack
It wasn't tainted research. It wasn't late trading. It wasn't even good for a lot of headlines. But it was another ugly moment for investment advisors...
Nov 1, 2005,
By Bill Singer
In October 2003, a back-office glitch made Robert Burns the recipient of $12,000 that did not belong to him. Burns was an advisor with Merrill Lynch,...
Nov 1, 2005
Q: Is there any way my employer can find out if I receive W-2 income from other sources, which, by the way, are not from other brokerage firms? When I...
Oct 1, 2005
Lawyers, Drugs and Money: Consuelo Marquez, an ex-Lehman Brothers broker who worked at the firm from 1995 to 2000, pleaded guilty in federal court in...
Oct 1, 2005,
Kevin Burke
A member of the New York Stock Exchange was arrested in late August for allegedly issuing a death threat to another seat holder who sued to block the...
Oct 1, 2005
Q: I'm 54 years old and, 19 years ago, was the first woman hired by my firm, which settled a sexual discrimination complaint filed by women employees...
Oct 1, 2005,
By Bill Singer
It's one of those stories that makes an advisor realize: That could have been me. In September 1999, Customer X and her husband transferred their son's...
Oct 1, 2005,
By Kristen French
Can the folks who market variable annuities and have gotten slammed by regulators for how they line their pockets in the process force the industry that...
Wall Street Wage Fight