The NASD has named President Clinton's top congressional lobbyist to a newly created position of executive vice president of strategic development. The Feb. 17 announcement that John Hilley would join the NASD came only about a month after NASD...
Are the rules strictly forbidding political contributions by municipal bond professionals really too strict, or is the Municipal Securities Rulemaking Board (MSRB) just a bit too powerful for the NASD's liking?That's a question numerous bond...
After years of wrangling between Canadian regulators and trade groups over who should oversee Canada's more than 60,000 independent mutual fund distributors and bank employees who sell funds, an agreement was reached to create a new watchdog...
Just a few months after completing the purchase of Beverly Hills, Calif.-based discounter Kennedy Cabot & Co., Toronto Dominion Bank is back in the market trying to strike a deal to acquire discounter Jack White & Co., according to several sources...
Immediately after the NASD Board of Governors on Jan. 22 passed a qualified immunity rule for U-4 and U-5 statements, an NASD spokesperson told this magazine that no final version of the rule was available.A month later, on Feb. 23, the NASD filed...
Although firms continue to publicly sing the praises of mutual fund portability, a lack of true interest may prevent full industrywide participation for the next several years, according to participants at a recent meeting led by the National...
Anyone reading the business sections of newspapers and magazines these days would be hard pressed not to draw the conclusion that the full-service brokerage industry is withering away and heading full steam toward extinction. Even as markets boom...
The Ontario Ministry of Finance has tapped veteran securities industry lawyer David Brown to head the Ontario Securities Commission (OSC), Canada's largest and most influential regulator. The position of OSC chairman technically has been vacant...
Branch managers are on the regulatory hot seat. SEC enforcement staffers are warning that both the liability for broker misconduct and the sanctions have been ratcheted up."The SEC has no comfort that supervisors are taking their job as seriously...
When the NYSE's new rule on broker/client correspondence was approved at the end of last year, (see March '98 RR, Page 42), the NASDR immediately moved to adopt the same standard of "reasonable supervision" through a rule change of its own that...
