As financial advisors take over more and more of their clients’ needs, the case of best-selling author Patricia Cornwell’s $51 million verdict against Anchin, Block & Anchin presents a cautionary tale.
Times are great. The market is soaring. Stocks are generally doing well. And the woes of 2007 and 2008 are a faded memory. And, of course, all customers are singing the praises of their registered representatives – until the next crises....More
As financial advisors take over more and more of their clients’ needs, the case of best-selling author Patricia Cornwell’s $51 million verdict against Anchin, Block & Anchin presents a cautionary tale....More
In Stewart v. Kono (2012 Westlaw 4427096) we’re reminded of the often delicate balance needed when representing the fiduciary. In this case, John Stewart was trustee of his deceased brother’s living trust and executor of his estate....More
More Demonizing the Banking System?
So, now the government is back at it. Blaming the housing bubble on every institution but itself (too much liquidity and Clinton’s Community Reinvestment Act are to blame.
The scapegoat this week is Wells Fargo in the crosshairs. Here is a snippet from the WSJ:
“The U.S. government filed a civil lawsuit against Wells Fargo & Co., accusing the biggest U.S. mortgage lender of behaving recklessly in issuing federally backed home loans....More
Well, another theif buys the farm. I just don't know what gets into people. Why do people think --- not just in financial services, but in any field --- they can get away with cheating and theiving? Oh, yeah. It's called hubris.
Richard Roth, Esq., of The Roth Law Firm, opines, now that the dust has settled on the controversial decision in Rosenberg, which deemed Form U-5 statements immune from defamation litigation, the New York courts simply got it all wrong....More
Throughout the rise of the financial industry, there has been a justifiably strong desire on the part of individuals and broker-dealers to hold the SEC accountable for its regulating (or lack thereof) of the securities market....More
Since the August 2011 adoption of the Dodd-Frank Wall Street Reform and Consumer Protection (Dodd-Frank) Act, the barriers for employees of SEC-regulated corporations and financial institutions to report wrongdoing by their companies (known as whistleblowing) have been significantly lowered....More
This flawless, 101.7-carat, pear-shaped diamond—one of the world’s largest —will go up for auction at Christie’s “Magnificent Jewels” sale in Geneva on May 15, 2013. How much will it sell for? Choose the correct answer and registered site users will be eligible to win a one-year subscription to Christie's Geneva Jewelry sales catalogue, courtesy of Christie's.
After 18 months in the industry, all at WFA, I will be leaving the firm. I have not had great success at a wirehouse. It started well in the apprentice period and the first 6 months, but I missed my hurdle at the 9 month mark and have been scraping by ever since. After taking a further look at the requirements for the next 3 years, I realize that my head is going to be on the chopping block for most of that time barring someone in my network hitting the Powerball. I take full responsibility for this, but I will add that my firm has offered me little, if any, support at the local level....More
Challenging economic climates often bring unforeseeable opportunities. New opportunities could, of course, help your clients maximize their potential. With the evolution of new technologies, financial products and account needs, new custodians have emerged to provide specialized services....More