June 1, 1998
Articles
Internet Fraud: Q&A with the SEC's On-line Cops
Jun 1, 1998 12:00 PM, Tracy Herman
John Stark is special counsel for Internet projects at the Securities and Exchange Commission. An eight-year commission veteran, Stark heads the Internet...
Encryption Debate Stalls Global On-line Banking, Brokerage Services
Jun 1, 1998 12:00 PM
While the federal government debates the issue of lifting export controls on strong encryption products, the Department of Commerce (DOC) has recognized...
Bank Brokerages Revamp Compensation
Jun 1, 1998 12:00 PM
For the second time in a year, Bank of America's brokerage unit, BA Investment Services, is experimenting with a new compensation plan for its 500-plus...
SEC Puts U-5/U-4 Immunity Rule Out for Comment
Jun 1, 1998 12:00 PM
The SEC has already officially finished gathering comments on the NASDR's qualified immunity rule proposal--Rule 1150--that would increase legal protections...
Judge Denies BOM's Appeal in Letter-Opening Case
Jun 1, 1998 12:00 PM
A federal judge has turned down an appeal of a high-profile arbitration case filed by former Merrill Lynch branch manager Alex Lambros Jr.Federal Judge...
CIBC/Toronto Dominion Merger Creates Big New Player
Jun 1, 1998 12:00 PM
While many a merger that looked good on paper has failed to live up to expectations, the proposed marriage between Canadian Imperial Bank of Commerce...
SEC, NASDR Nail NationsBank
Jun 1, 1998 12:00 PM
The SEC, NASDR and Comptroller of the Currency jointly settled an action in early May against NationsBank's former NationsSecurities unit for improperly...
The Check's in the ... Cyberspace
Jun 1, 1998 12:00 PM, Rosalyn Retkwa
The major wirehouses have progressed to the point where their clients can perform a number of functions over the Web, but there's still one hitch: Clients...
Bond Markets Go Electronic
Jun 1, 1998 12:00 PM, Kevin Pilot
Have you ever wondered whether that bid your firm's bond desk made for your best client's $100,000 worth of California GO's was really the best they could...
Are You Done For?
Jun 1, 1998 12:00 PM, Pamela Savage Forbat
Ric Edelman's friend was 50 years old and eager to see if his retirement goals held water. But he didn't ask Edelman, a financial planner who runs The...
Is It Internet Yet?
Jun 1, 1998 12:00 PM, Rosalyn Retkwa
By the end of 1998, Merrill Lynch and Prudential Securities will be ready to launch Web-based trading for some of their retail clients, and PaineWebber...
Former Shearson Life Specialist Awarded $1.8 Million
Jun 1, 1998 12:00 PM
An NASD arbitration panel has ordered Salomon Smith Barney to pay $1.8 million to a former Shearson life insurance specialist who claimed Shearson pushed...
NSCC Gears Up for New ACATs System
Jun 1, 1998 12:00 PM
On the evening of Nov. 13, 1998, (a Friday), the National Securities Clearing Corp. (NSCC) will switch over to a new computer system for processing ACATs....
Merrill Ordered to Pay Two Former Brokers $172,000, Amend U-5s
Jun 1, 1998 12:00 PM
An arbitration panel in March ordered Merrill Lynch to pay two brokers $86,000 each in compensatory damages after firing them in a dispute involving either...
Levitt Threatens Ban on Recruiting Incentives
Jun 1, 1998 12:00 PM
SEC Chairman Arthur Levitt Jr. has asked the NASD to look into disclosing--or even banning--recruiting incentives for brokers.In an April 20 speech before...
