The Fear of PursuitNov 1, 2004
Q: I joined a regional bank brokerage firm three years ago. When I hired on, I was asked to sign a nonsolicitation agreement. Eleven months later, at... To Quit or Not To Quit, That Is the Question on Item 14JOct 1, 2004,By Bill Singer Your branch manager is a jerk. The broker/dealer is run by idiots. Worse, those morons just reprimanded you for unsatisfactory production and warned you... Are Forgivable Loans Next?Oct 1, 2004,David A. Gaffen Regulators have been all over brokerages, investigating mutual fund breakpoints and, more recently, the probity of fee-based accounts. Now, add forgivable... Sharp Words for the NASD From Raymond James' AverittOct 1, 2004,David A. Gaffen SALT LAKE CITY Brokerage firm executives aren't generally known for their glowing adoration for regulators and their proposals, but Dick Averitt of Raymond... Broker...Advisor... Broker...Advisor—Let's Call the Whole Thing Off!Oct 1, 2004,John Churchill If you're a broker, chances are you introduce yourself to clients and prospects as a financial advisor or financial consultant. The Financial Planning... RIAs Kickin' BackOct 1, 2004,Will Leitch Talk about paying to play. Three registered investment advisors were accused by the SEC of accepting cash payments from TD Waterhouse in return for putting... A Fitting ProblemSep 1, 2004,By Namita Devidayal THE QUESTION WHAT NEXT? is an expression of exasperation but also one of hope as if so much has already happened that it can't possibly get worse. With... On Ambulance Chasing and Asset ProtectionSep 1, 2004,By Daniel L. Daniels, David T. Leibell and Russ Alan Prince As anyone who rides public transportation or watches late-night TV can attest, our society is a litigious one. We've all seen the ads: Have you or someone... Directed Brokerage Goes Down for the CountSep 1, 2004,Will Leitch The first target has been hit: Directed brokerage is no more, and 12b-1 fees might be in more danger than had been thought. The SEC's recent ban on the... A Change of Course for WholesalersSep 1, 2004,Will Leitch Change is in the air for wholesalers, thanks to the mutual fund scandals and recent banning of directed-brokerage practices by the SEC. Boston-based Financial... Clean MachinesSep 1, 2004,By David A. Gaffen Like any other rep, Ron Carson, whose $870 million practice rates him as one of America's top brokers, is vulnerable. This is the conclusion he drew from... Hidden Market-TimersSep 1, 2004,John Churchill A new study of mutual fund firms' enforcement capabilities affirms what many in the industry have known for some time omnibus accounting practices by... The Big Board Paddles the WaywardSep 1, 2004,By Bill Singer It has been said there are few things more dangerous than a wounded beast; the New York Stock Exchange seems hellbent on proving that rule. The NYSE has... The Blame GameSep 1, 2004
Q: In a grueling arbitration hearing this year, the complainant's attorney alleged I'd acted in a fiduciary capacity by purchasing and allocating a variable... No Soft Dollars? A Hard Pill To SwallowAug 1, 2004,Will Leitch The SIA Soft Dollars and Institutional Brokerage Conference took aim at a wide range of issues related to soft-dollar payments in the brokerage industry,... Dealing With ComplainersAug 1, 2004,By Bill Singer Death and taxes are an inevitable part of everyone's life. If you're a registered rep, you can add customer complaints to that short list. It's an article... The ReformationAug 1, 2004,By Will Leitch When the scandal craze that has gripped the securities industry first got its kick in the pants two years ago from Eliot Spitzer and his crew, few in... On the Hot SeatAug 1, 2004,By Alison K. Jimenez They're coming to get you. As the number of arbitrations filings increases, so too do the odds that you will be called to appear in a regulatory hearing.... It's the Advice, StupidJul 1, 2004,By Gregg Wirth When Mike DiGirolamo, former head compliance officer at Raymond James Financial, was first contacted by the NASD about how the firm determined whether... Alone In a CrowdJul 1, 2004,By Bill Singer The tale of Gina Guzzone is one that would do Franz Kafka proud. All the elements are there the mazelike system of bureaucratic roadblocks, the surreality... The Great Compliance Witch Hunt!Jul 1, 2004,By David A. Gaffen Things went from bad to worse for Greg Kinkead, a 10-year veteran advisor based in Las Vegas. In 2002, several months after switching wirehouses, Kinkead... When Silence Isn't GoldenJul 1, 2004,By Bill Singer The current suit-happy environment has left more than one registered rep yearning for the Cone of Silence, that whimsical invention from the 1960s spy... A Question of ClassJul 1, 2004
Q: My firm encouraged in a documentable way the conversion of A-share mutual funds into a new class that could be held in wrap accounts (and be charged... The Downside to the Rube DefenseJun 1, 2004,By Bill Singer Time was, the perfect stockbroker was equal parts salesman and stockpicker, but these days you have to throw a good measure of lawyering into the mix.... Haunted by the PastJun 1, 2004
Q: Back when I was 18 I was charged with two felonies. On one, the charges were completely dropped the next day. For the other, it was reduced to a minor... Fee-ling GoodJun 1, 2004,By Kevin McKinley A recent article in The Wall Street Journal described a probe securities regulators have launched into fee-based accounts. I paid extra attention, because... Out, Damn SpotsMay 1, 2004,Will Leitch In April, the NASD instituted a rule meant to prevent stockbrokers from, in effect, buying their way out of client complaints and a dinged Form U4 by... Arbitrary DecisionsMay 1, 2004
Q: In a securities arbitration by a brokerage client, the client's former broker was not named as a party nor mentioned in the claim. Attorneys for the... What the Martha and Peter Case Means to YouMay 1, 2004,By David A. Feldman To many rank-and-file financial advisors, the Martha Stewart-Peter Bacanovic case is very far removed from their everyday business experience. After all,... It's Your Call—AlwaysMay 1, 2004,By Bill Singer Far too many reps are learning the hard way how little responsibility clients shoulder when it comes to assessing the suitability of their investments.... Archive Items Now?May 1, 2004,Will Leitch Most reps work under the assumption that all their professional correspondence could be scrutinized, and the SEC now is telling them that assumption is... Last Call for Soft Dollars?Apr 1, 2004,Will Leitch MFS Investment Management and Morgan Stanley's announcements in March that they will no longer pay soft dollars to brokerages for third-party research... A View From the Nation's CapitalApr 1, 2004,David A. Gaffen Much of the noise in the broker/dealer industry lately is coming from the halls of Washington rather than from the trading desks all over the country.... What's a Rep to Do?Apr 1, 2004
Q: I work for three credit unions that offer investment services to members. I replaced a man who had been here for years and was fired for selling away.... Fee-Based Accounts Come Under ScrutinyApr 1, 2004,David A. Gaffen The long parade of securities scandals has convinced broker/dealers to apply some prophylactic measures to their fee-based accounts. Registered reps at... |
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