The NASDR has asked for and received Dec. 17, 1997, from the SEC a six-month extension for its pilot program that expedites arbitration hearings for brokers who have been enjoined by former employers.In some cases, when reps leave a firm, they are...
What should a full-service firm charge clients for an on-line trade? What should full-service brokers get paid on the trade?Prudential Securities is finding it tough to come up with answers as it beta tests Pru Trade, its on-line trading system...
Those who do business with the NASD are free to serve anywhere in the SRO's leadership and don't have to give up their business relationship while they serve. Bert Roberts Jr., chairman of MCI, is a long-standing example.As the head of a Nasdaq...
Christopher Sullivan is one brokerage official who wishes he had more competition.Sullivan runs Merrill Lynch's program for deaf and hard-of-hearing investors--a program that's unique in the range of services it provides for people with auditory...
There are two ways to view mutual fund style drift.The first is that it's a headache. Just when you've got a client's portfolio appropriately diversified, the portfolio's funds begin creeping in different directions. The big-cap fund chases...
Michael Henry, a former vice president and municipal bond research analyst with PaineWebber in New York City, won $214,000 in a wrongful termination case decided by an NASD arbitration panel Sept. 18, 1997.In addition to wrongful termination...
The courting of self-directed customers by full-service firms continues to gain momentum. Shortly after the first of the year, A.G. Edwards, one of the industry's traditional stalwarts, unveiled a program specifically designed to bring fanciers of...
Deborah Masucci, head of the NASDR's arbitration system, has decided to resign her post sometime in 1998.NASDR spokeswoman Nancy Condon says Masucci will be "leaving sometime over the next year."Masucci was on vacation and not immediately...
New York State Attorney General Dennis Vacco has called for ending mandatory arbitration of all types of employment claims in the securities industry.In a comment letter to the SEC regarding the NASDR's proposal to end mandatory arbitration of...
First of Michigan, a Detroit-based regional, has filed an expedited NASD arbitration against Hilliard Lyons, hoping to stem losses from recent broker defections to the Louisville, Ky.-based brokerage.According to court transcripts, First of...
