September 1, 1998
Articles
Pay Your Money, Make Your Pitch
Sep 1, 1998 12:00 PM, Thomas M. Kostigen
PaineWebber trains 1,200 brokers a year on everything from new products and new regulations to legislation and sales tactics. Morgan Stanley Dean Witter...
TSE Investigates Insider Activity During Merrill-Midland Merger
Sep 1, 1998 12:00 PM
Investigators at the Toronto Stock Exchange (TSE) are looking into the flurry of activity in shares of Midland Walwyn stock just prior to the announcement...
Piper Age Case Vacated by Appeals Court
Sep 1, 1998 12:00 PM
On July 9, the U.S. Court of Appeals for the Second Circuit in New York vacated an NASDR arbitration panels finding that Piper Jaffray had not terminated...
Firms Settle Alleged Overtime Violations
Sep 1, 1998 12:00 PM
Brokerage firms have been settling a number of wage-and-hour violation charges. Many of the so-called collective action claims have been filed against...
First Union Shows Pattern of Selling Without a License
Sep 1, 1998 12:00 PM
Since 1990, First Union Brokerage Services of Charlotte, N.C., has sold securities in at least nine states without proper registration, according to the...
Prudential Rep Loses Letter-Writing Case, Gets the Boot
Sep 1, 1998 12:00 PM
Jerry Figari got a nice incentive bonus in early 1997 to join Prudential Securities in Stuart, Fla.--$200,000. But after sending a hard-hitting letter...
Disclosure of Reps Felony Convictions Under Discussion
Sep 1, 1998 12:00 PM
In response to some privacy concerns raised by brokers and the industry, the NASD is asking for comment on whether brokers non-investment-related felony...
Funds Offering More On-line
Sep 1, 1998 12:00 PM
A survey of mutual fund Web sites shows that the number of fund companies offering on-line account information and transactions has roughly doubled since...
Financial Advisers Have Pull
Sep 1, 1998 12:00 PM
Financial advisers are considered the most valuable sources of investment information by mutual fund investors.A survey of 2,000 mutual fund owners performed...
Reps Rolling in Dough
Sep 1, 1998 12:00 PM
Last year, not surprisingly, was the best year ever for brokers.Median production for retail brokers was a record $303,366 in 1997, and median W-2 earnings...
Closed-End Sponsors Duke It Out with Shareholders
Sep 1, 1998 12:00 PM
Fists are flying in the closed-end fund arena. Shareholder activists are demanding that fund sponsors eliminate persistent double-digit discounts or ailing...
A Neutral Creature
Sep 1, 1998 12:00 PM, Tad Leahy
Short selling has invaded the mutual fund industry. The reason: the repeal of the short-short rule under the Taxpayer Relief Act of 1997. The rule had...
Custody Options Open Up for Advisers
Sep 1, 1998 12:00 PM
The day when advisers can link multiple custodians and produce one statement for clients is here. Several vendors are targeting independent advisers who...
NASDR Proposes Permanent TRO Rule
Sep 1, 1998 12:00 PM
Firms will still be able to sue defecting brokers in court under provisions of a proposed NASDR rule filed with the SEC in July.The proposal deals with...
Senate Quizzes Industry About Mandatory Arbitration
Sep 1, 1998 12:00 PM
In a July 31 oversight hearing before the Senate Banking, Housing and Urban Affairs Committee, the industry took some lumps over using its mandatory system...
NASD Puts AMEX Deal to Member Vote, Sort Of
Sep 1, 1998 12:00 PM
In what critics call a token gesture designed to make the AMEX marriage more palatable to smaller members, the NASD has proposed giving small broker/dealers--firms...
SEC Changes Performance Fee Rules
Sep 1, 1998 12:00 PM
The SEC is giving investment advisers greater latitude in charging certain clients performance or incentive fees, but has also made it tougher for investors...
First Marathon, Execs Pay $4 Million in Fines
Sep 1, 1998 12:00 PM
In mid-July, First Marathon Securities, one of Canadas largest independent broker/dealers, was slapped with the heftiest fine ever imposed on a member...
Ontario Securities Commission to Beef Up Enforcement
Sep 1, 1998 12:00 PM
For years the Ontario Securities Commission (OSC), Canadas largest regulator, has had a dismal record of catching industry troublemakers. The reason,...
Variable Confusion
Sep 1, 1998 12:00 PM, Russ Wiles
The latest generation of variable annuities offers more investment options with new wrinkles, such as nursing home waivers, and a formidable array of...
Junk Funds
Sep 1, 1998 12:00 PM, Lori Pizzani
Product pushing is alive and well on the Street. Since the beginning of this year, 13 closed-end funds have been launched. Thats as many as were launched...
Morgan Stanley Dean Witter to Charge Account Fees
Sep 1, 2000 12:00 PM
Starting in January 1999, Morgan Stanley Dean Witter will charge an annual $50 service fee for some accounts. The fee will be charged each January based...
Morgan Stanley Dean Witter Is Official
Sep 1, 2000 12:00 PM
Since June, the Morgan Stanley Dean Witter name has been official and it is now being used for all the firms products and services.Even though Morgan...
Morgan Stanley Dean Witter Roils U.K. Fund Market
Sep 1, 2000 12:00 PM
Morgan Stanley Dean Witter is hoping it shake up the mostly staid British mutual fund marketplace. In late July, the investment giant began an all-out...
Judge Pushes Merrill, Rosenberg to Settle
Sep 1, 1998 12:00 PM
The U.S. Court of Appeals for the First Circuit in Boston is pushing for a settlement in Susan Rosenbergs discrimination case against Merrill Lynch. That...
Merrill Charges Back Into Canada
Sep 1, 1998 12:00 PM
Eight years after turning its back on the Canadian retail market, Merrill Lynch has charged back in, checkbook in hand, and closed a deal that could allow...
