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... 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... 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... 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.... 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... 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... 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.... 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,... 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... 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... 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... 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.... The Problem with Filling in the BlanksApr 1, 2004,By Bill Singer Martha Stewart apparently is not alone in her creative approach to document management. During a recent NASD examination, a broker/dealer could not locate... Arb-ominationMar 1, 2004
With scandals continuing to dominate the news and broker/dealers under more fire from the investing public, it come as little surprise that arbitration... Not-So-Fine PrintMar 1, 2004,John Churchill Get ready, brokers All of the hand wringing during the last two years over faulty research and enhanced disclosure will seem like grade school compared... Merrill Broker Expects Ruling SoonMar 1, 2004,David A. Gaffen Hydie Sumner, one of the remaining 50 or so registered reps who sued Merrill Lynch for gender discrimination, is expected to hear a decision from an arbitration... Sunset for Settlements?Mar 1, 2004,By Richard Roth & David M. Kasell ANASD rule change destined to take effect later this year would have the unintended consequence of making it harder for investors to obtain the redress... Compensation ConundrumsMar 1, 2004
Q: I've been a Morgan Stanley registered rep for 19 years. Lately, with the new push on account fees for everything, sometimes clients don't pay. Firms... Wrapped in RedFeb 1, 2004,By Bill Singer In one of the few memorable scenes in Godfather III, Michael Corleone laments his inability to break free of the gangster life: Just when I thought I... Whistleblowers Save Your BreathJan 1, 2004,By Bill Singer Bureaucracy that smacks of willful ignorance that's what one would-be tipster (and client of mine) encountered when he tried to anonymously notify regulators... We May Be Guilty—But Only of Being AnnoyingJan 1, 2004,David A. Gaffen Let the finger pointing begin. As the mutual fund scandal kicks into high gear, brokers are starting to unveil their plans for fighting regulators' charges... Late-Trading Disclosure At Schwab Rankles AdvisorsJan 1, 2004,Will Leitch In November, Charles Schwab & Co. disclosed instances of late trading and market timing in its Excelsior Funds, operated by its U.S. Trust unit. Not only... Get It In WritingDec 1, 2003,By Bill Singer Some of the knowledge required to acquire Series a 7 flees a rep's brain before the test scores have even been computed a process that takes mere minutes.... When Yawns Turn to GapesDec 1, 2003,By Michelle Leder Until recently, there was little danger of confusing SEC filings with anything interesting say a best-selling novel or a hard-hitting newspaper story.... |
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
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