Appreciation in the Age of RegulationJul 1, 2005,By Anne Field For E. W. (Woody) Young, one day stands above all others for showering his lady clients with love: Feb. 14. Each Valentine's Day, Young, who runs Quest... An Industry in Need of CounselingJul 1, 2005,By Bill Singer Talking is good any marriage counselor will tell you so. I mention this because the relationship between regulators and the brokerage industry lately... What 3012 Hath WroughtJun 1, 2005,Matt Barthel When the NASD released follow-up guidance on Conduct Rule 3012 in April, it aimed to clarify how member firms must supervise the personal business of... The Compliant PresidentJun 1, 2005,By B. Slade After eight turbulent years under President Bush, America is heading in different direction a very different direction. It's February 2009 time to meet... Fess Up: The Firm Will Find Out AnywayJun 1, 2005,By Bill Singer People applying for work on Wall Street can be denied for many reasons these days, but there are two very common ways they get tripped up. First, some... The Cost of ComplianceJun 1, 2005
Q: I am a big fan of the Ethical Rep section of the magazine. As a registered representative, I often encounter situations where my licensing and continuing... Ins and OutsourcingJun 1, 2005,By Anne Field No-brainer decisions aren't what they used to be in the brokerage industry, and outsourcing is a case in point. Broker/dealers have long understood that... No More Slap on the WristJun 1, 2005,By Karen Donovan In the past, almost any violation by a rep resulted in a fine. Only in the most extreme cases were severe measures, like suspension and expulsion, used.... Can Anyone Get This Write?May 1, 2005,By Bill Singer Eva Yee May Sung forged the signatures of public customers and a branch manager on forms authorizing Sung to become the new representative of certain... A Mere Hurdle to ClearMay 1, 2005,By David A. Geracioti When the SEC ruled in April to re-propose the so-called Merrill Exemption, permitting Series 7 licensees to continue to call themselves financial advisors,... The Worst is Over—ProbablyMay 1, 2005,By Richard Roth If legal filings are a leading indicator of the amount of trouble a particular industry is in, the securities industry can start to breathe a bit easier... Class-Action ThreatMay 1, 2005,John Churchill Smith Barney is facing a new round of sex-discrimination suits. A quartet of financial consultants from California has filed a national class-action lawsuit... Research RequirementsMay 1, 2005
Q: Many firms use third-party investment research to cover companies their own analysts don't or to supply a second opinion. As part of these arrangements,... Death by Nickels and DimesApr 1, 2005
Q: I joined my current firm in October 2003 and signed a contract that stipulated ticket charges would be $15. After only six months, the firm raised... How Not to Get SuedApr 1, 2005,Thrupthi Reddy, senior editor, Trusts & Estates. If you're a fiduciary and don't want to get sued and fined pay close attention to litigation expert Dominic J. Campisi. Campisi, a partner in the San... Elder Abuse, Advisor StyleApr 1, 2005,Will Leitch One of the few aspects of the securities industry to escape significant regulatory intervention so far is the sale of variable annuity products. But that... Merrill Takes a Late Hit on Research ScandalApr 1, 2005,John Churchill An NASD arbitration panel ordered Merrill Lynch to pay more than $1 million to investors Gary and Lisa Friedman last month for hiding conflicts of interest... Indie Research (A Non-Event So Far)Apr 1, 2005,By Will Leitch When the Wall Street research scandal drew to its close last July as the SEC exacted a global settlement from the top investment banks many reps wondered... Keep It DarkApr 1, 2005,By Richard A. Roth Arbitrations are designed to be the final word in disputes between investors and the firms and reps that serve them. Thus, it is not surprising that when... Two-Tiered Justice?Apr 1, 2005,By Bill Singer Any rep or branch office manager who has been disciplined by the NASD can attest to the organization's zealous dedication to enforcement. However, a recent... How Free Training Can Cost You a BundleMar 1, 2005,By Bill Singer Training is everythingcauliflower is nothing but cabbage with a college education. Mark Twain To this famous quote brokerage firms might add: Financial... The Ethical Rep: Responsibility IssuesMar 1, 2005
I underwent a grueling arbitration hearing this year. The complainant's attorney claimed I'd acted in a fiduciary capacity by purchasing and allocating... Short but Not Necessarily SweetFeb 1, 2005,By Bill Singer Greener pastures await at another broker/dealer: I'm outta here. Adios. Sayonara. Kiss mywell, you get the idea. It's a heady moment when a rep leaves... A Monster IssueFeb 1, 2005,By John Churchill It seems so trivial, just a turn of phrase: Can Series 7 stockbrokers bill themselves as financial advisors without getting a Series 66, the license that... Conditional ForgivenessFeb 1, 2005
Q: Recently I have been offered a forgivable loan as part of a transition package. I've taken loans before, but I've never seen one of the requirements... Not in My NameJan 1, 2005
Q: In March 2003, I purchased $80,000 of Franklin New York Tax-Free A shares for my 70+-year-old client, who wanted to hold them long-term and was eligible... A Whole New Ball GameJan 1, 2005,By David A. Geracioti What, no more golf balls? No free fancy lunches? Dinner? No drinks? Financial advisors who grew accustomed to the little and sometimes not so little treats... For the RecordJan 1, 2005,By Bill Singer Aclient of mine recently received the securities industry's equivalent of the black spot that pirate death summons made famous in Robert Louis Stevenson's... 529 Plans in the CrosshairsJan 1, 2005,Will Leitch To virtually no one's surprise, regulators have begun scrutinizing how 529 plans are peddled. In December, the SEC and NASD sent a letter of inquiry to... Third Time Is a HarmJan 1, 2005,By David A. Gaffen A NASD proposal to require that reps with three or more formal complaints against them receive extra supervision from their firms elicited a hue and cry... Raymond James Fights a Lonely Battle with the SECDec 1, 2004,BY KAREN F. DONOVAN On Nov. 5, when SEC Chairman William Donaldson addressed the Securities Industry Association's annual meeting in Boca Raton, Fla., it was an uncomfortable... If You're a Broker and You Know ItDec 1, 2004,John Churchill As the holiday season approaches, the SEC is getting daily entreaties from registered investment advisors seeking an end to the broker/dealer exemption... The Promise KeepersDec 1, 2004
Q: I have about $154,000 remaining on a forgiveable loan that I received when I joined a major wirehouse in 2001. Recently I was terminated for unauthorized... SOSDec 1, 2004,By Will Leitch Six years ago, Hilliard Lyons, a successful small broker/dealer with roots dating back to 1854, shocked many by selling itself to PNC Bank. To many, the... Read It and SteepNov 1, 2004,By Bill Singer When dealing with lawyers especially on matters as complex as securities law even the most controlling clients are tempted to go passive. The instinct... |
Current Issue Humbled But (Somehow) TriumphantBy Kristen French With reporting from John Churchill and Halah Touryalai Rescued by Bank of America from its near-death experience, Merrill Lynch is still managing to set the industry standard. advertisement Recent NewsREP. RESEARCHadvertisement BOOKS
This reference book was updated for 2008 and now contains over 900 pages of information on essential financial concepts and wealth management strategies for your work with wealthy clients. The book not only contains brief summaries of each topic, but it also contains many useful diagrams and charts that can be used with clients when explaining difficult financial concepts. The information in this book meets current FINRA/NASD guidelines. Click here. Bookstore
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