Remember when good branch managers reminded you of your dad? Whether man or woman, they'd push you hard to succeed, dress you down when you deserved it, take the time to listen--and always be there. Just like dad. Their advice was wise because...
The NASDR enforcement staff's puzzling pursuit of a small-order execution system (SOES) firm for more than a year over one small trade has refueled allegations that the NASD treats small firms unfairly.Last August, the NASD National Business...
The SEC gave the industry a big gift for New Year's. On Dec. 31, after lengthy negotiations that took more than 15 months, the SEC approved the NYSE's new rule on broker/client correspondence. The upshot: Brokers can now send E-mail to their...
Since 1990, Dean Witter, Merrill Lynch, Prudential, PaineWebber and Smith Barney have lost significant market share in all three main asset categories--equity, tax-exempt bond and taxable fixed income.According to asset data from Lipper Analytical...
One week after installing a new board of governors, and less than one month after ending comment on a controversial U-4 and U-5 immunity proposal, the NASD Board of Governors has approved enhanced immunity for statements member firms put on...
The SEC has sent back to the NASD a controversial proposal that would cap punitive damages investors could win in NASDR arbitrations.An SEC spokesperson says sending proposals back to SROs with comment letters the agency has received is part of...
Bank brokers aren't just pitching annuities anymore.A recent sales study by Prophet Market Research shows bank securities professionals are more likely to recommend aggressive equity products to their clients now than in years past.Prophet mystery...
Canadian broker/dealer Marleau Lemire Securities is shutting down after failing to reach a deal with another firm to salvage its floundering operations.The firm was founded in 1989 as one of a handful of publicly traded brokerages in Canada. It...
The proposed merger between the Royal Bank of Canada and the Bank of Montreal has sent shock waves through the Canadian brokerage community. Many employees of the broker/dealer subsidiaries of both firms almost overnight began polishing rs and...
The proposed merger between the Royal Bank of Canada and the Bank of Montreal (see previous item), which own Canada's largest and second largest broker/dealers, respectively, has caught the attention of the Ontario Securities Commission (OSC). But...
