October 1, 1998
Articles
Prudential Branch Revolts Over New Noncompete
Oct 1, 1998 12:00 PM
More than half of the 50-plus brokers in Prudential Securities West Bloomfield, Mich., branch have banded together to protest the firms new noncompete...
Zarb Tells California Firms AMEX Merger Wont Cost Anything
Oct 1, 1998 12:00 PM
A day after NASD members voted on a board restructuring that would allow the AMEX merger to proceed, NASD head Frank Zarb told a group of small California...
SEC Wont Go Along With Removing Felony Records from CRD, Zarb Says
Oct 1, 1998 12:00 PM
In a Sept. 15 address to the California Association of Independent Broker Dealers (CAIBD) in Marina del Rey, NASD head Frank Zarb said that the SEC is...
NASDR Dodges Disciplinary Referral of Dean Witter
Oct 1, 1998 12:00 PM
The NASDR appears to have done nothing with a disciplinary referral it received from an arbitration panel more than a year ago over Dean Witters refusal...
Industry Howls Over NYSE Mandate to Report Oral Complaints
Oct 1, 1998 12:00 PM
The NYSE has caused a stir in clarifying that it expects oral customer complaints to be reported. In an April Information Memo (98-16), the Big Board...
Small Firms Grumble About Y2K Survey
Oct 1, 1998 12:00 PM
An SEC rule that requires all broker/dealers to complete a written checklist of Y2K readiness is striking many as at once amusing, annoying--and a bit...
New Investment Adviser Exam Seen by Mid-1999
Oct 1, 1998 12:00 PM
If state securities regulators have their way, the Series 65 could be replaced with a new exam shortly after the New Year. The exam, designed to replace...
Regulators Sometimes Factor In Past Fines in Hitting Wrongdoers
Oct 1, 1998 12:00 PM
When regulators jointly settled a big sales practice case in May with NationsBank and NationsSecurities, SEC Chairman Arthur Levitt Jr. defended to reporters...
OSC Set to Probe Investment Advisers
Oct 1, 1998 12:00 PM
An audit by Canadas largest regulator, the Ontario Securities Commission (OSC), of eight randomly selected high-end investment adviser firms has yielded...
OSCs Top Enforcer Signs On as Chief Regulator for Fund Distributors
Oct 1, 1998 12:00 PM
Lairy Waite, the Ontario Securities Commissions (OSC) head of enforcement for close to a decade has been named to the top post of the newly formed Mutual...
Market Slide Prompts Canadian Regulators to Review Brokers Books
Oct 1, 1998 12:00 PM
As markets began to tumble in August, the Investment Dealers Association of Canada (IDA), which represents and regulates 150 Canadian broker/dealers,...
Merrill Execs Off the Hook in Orange County Bankruptcy
Oct 1, 1998 12:00 PM
Merrill Lynch executives will not be sanctioned individually for the firms dealings with Orange County, Calif. , prior to the countys 1994 bankruptcy,...
Prudential Settles With Former Rep Over Malicious Prosecution
Oct 1, 1998 12:00 PM
Prudential Securities settled in August a contentious malicious prosecution claim brought by a former broker who the firm charged with stealing $20,000...
Dean Witter Sued for Deferred Compensation Payout
Oct 1, 1998 12:00 PM
A former Dean Witter rep has filed a prospective class-action suit against the firm claiming that Dean Witter brokers should have been paid out all deferred...
Schwab Wins Raiding Case Against Salomon Smith Barney
Oct 1, 2000 12:00 PM
In an unusual raiding case involving a discounter and a full-service firm, an NASDR arbitration panel in March awarded more than $1 million to Charles...
Funds Change Face to Attract Assets
Oct 1, 1998 12:00 PM
In the struggle to obtain and retain assets, some mutual funds are redesigning their fee structures. Several no-load fund complexes are now offering load...
Indie Reps Beef About Compliance Fees
Oct 1, 1998 12:00 PM
Brokers who work as independent contractors are complaining about rising compliance fees. The fees stem from a growing mandate by regulators for indie...
NASDs New York Arbitration Program in Flux
Oct 1, 1998 12:00 PM
Some plaintiffs attorneys claim theyre having problems with the NASDRs New York dispute resolution office. They say the situation worsened after the departure...
Regulators Look at IP0 Penalty Bids
Oct 1, 1998 12:00 PM
As the SEC and state regulators begin to investigate brokerage policies on penalty bids for brokers who flip IPOs, retail brokers say the issue doesnt...
