Rick Weinberg

Rick
Weinberg
Articles
Brokers React to Citi's Research Move
It was Smith Barney brokers who gave Sandy Weill the idea to hire Sallie Krawcheck, former head of Sanford C. Bernstein. Brokers had suggested that the Citigroup Chairman buy the independent research firm from Alliance Capital. Instead, he wound up hiring Krawcheck to head a new business unit of Citigroup that will operate under the name Smith Barney, and include the private client group.
All in the Family
Cases of brokers stealing from their clients are not unheard of. After all, former Lehman Brothers broker Frank Gruttadauria faces six to eight years
Show Him the Money
When Terrell Owens of the San Francisco 49ers caught a 37-yard touchdown pass against the Seattle Seahawks on Oct. 14, strutted into the end zone for
Morgan Stanley Opposes Fine
Following the New York Attorney General’s investigation of Merrill Lynch’s research practices, the firm was fined $100 million in what company president
PaineWebber Appeal Rejected by Supreme Court
Completing “bucking” its trend of supporting arbitration over litigation, the U.S. Supreme Court rejected a UBS PaineWebber appeal of a decision that
Merrill to Reps: Go Get 401(k) Business
Merrill Lynch advisors are now going to offer participants in Merrill-run retirement plans specific buy and sell recommendations. Indeed, participants may elect to turn over all investment decisions to Merrill advisors.
Accused Rogue Broker Puts UBS PaineWebber Under Scrutiny
The Massachusetts Securities Division is investigating UBS PaineWebber’s supervisory and compliance procedures in connection with allegations of a broker stealing more than $4 million from clients, according to the state’s Securities Division.
Lipstick on the Pig
David Pottruck, the The Charles Schwab Co. co-CEO, says the best way to clean up Wall Street’s tarnished image is to disclose all.
Small Investors Ding Pru for $260 millionOne of largest awards for small investors ever in case of broker
The Prudential Securities case, in which an Ohio jury ruled that it should pay $261.7 million in damages, sure does bring home the mundane thought: Best
Nasdaq Chairman ‘Worried’ About Future of Street Research. With so many newly minted penny stocks, should delisting requirements change?
Wick Simmons, the former CEO of Prudential Securities and current chairman of Nasdaq, said today at the Security Trader Association annual meeting in
To Improve Profitability, Merrill Curtailing Trading of OTC Issues A Time to Buy Small-Cap Issues?
Merrill Lynch is trimming the number of Nasdaq stocks it trades by 75 percent—so that it can focus on the 2,400 biggest, most actively traded stocks,
Brokerage Firms Continued Recommending Floundering Companies: Weiss Survey
A surprising 74 percent of the 62 brokerage firms that follow companies that filed for bankruptcy protection between May 1 and Aug. 31 continued to recommend
To Improve Profitability, Merrill Curtailing Trading of OTC Issues A Time to Buy Small-Cap Issues?
Merrill Lynch is trimming the number of Nasdaq stocks it trades by 75 percent—so that it can focus on the 2,400 biggest, most actively traded stocks,
Brokers Fear Arbitration
With arbitration cases on the rise, many brokers are shaking in their wingtips about the prospect of being dragged through a legal process that, because
Morgan Stanley Boosts Pay for Fee Business
Morgan Stanley unveiled a new compensation plan for brokers that rewards fee-based business and penalizes transactional business. The plan, announced
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