President Clinton signed the Gramm-Leach-Bliley Act (GLB) into law on November 12, 1999. Beginning shortly thereafter and continuing until the present day, federal banking, and other agencies have been issuing proposed and final rules as required...
For the main resources for legal materials that deal with estate planning and administration you might begin with the Web sites of national organizations, such as the American Bar Associations Real Property, Probate and Trust Law Section public...
For full survey results, click here. Since the most recent version of the estate tax was enacted in 1916, trusts and estates attorneys have helped taxpayers and their heirs minimize and even eliminate substantial wealth transfer taxation. Through...
The U.S. Supreme Court yesterday made clear that employees are bound by agreements to arbitrate employment disputes. The case, Circuit City Stores v. Adams, involved a retail clerk who had to sign an arbitration agreement as a condition of...
The number of Morgan Stanley Dean Witter global financial advisers grew 1,036 over the last 12 months to a record 14,108, according to Robert Scott, the firm’s president and Chief Operating Officer. But Scott said during an investor...
The mutual fund industry is grappling with a declining market as well as potential new competitors. Both issues surfaced at the Investment Company Institute’s Mutual Funds and Investment Management Conference, being held this week in Palm...
Salomon Smith Barney has won two separate arbitrations related to its Capital Accumulation Plan. In Mary Elizabeth Whyte vs. SSB, Whyte claimed that the firm "breached their contract, converted funds and engaged in fraud and deceit in connection...
Merrill Lynch is dividing its sales force of 16,000 retail brokers into three categories: Financial Advisors (formerly called Financial Consultants) for everyday investors with less than $1 million, Wealth Management Advisors serving clients with ...
ON THE FEE SIDE Scott Root Senior Vice President,PaineWebber,San Mateo, Caif. Root started doing managed money about 10 years ago, and now 60% of his business comes from recurring fees. R. Stephen Trudeau Vice President,Senior Financial Consultant...
A study by the SIA on mutual fund portability indicates that more than 90% of mutual funds distributed by top firms are “as portable or more portable than three years ago.” The study’s findings are not surprising to several...
