About a year ago, the broker began to take a close look at small-cap stock charts. With a client base mainly of individual stock traders, he'd grown frustrated at price moves that didn't jibe with trading volume. The broker, who works for a...
At the industry pooh-bahs' annual bash in Boca Raton, Fla., Nov. 5-8, the Securities Industry Association (SIA) released results of its yearly investor survey. One item of note: Two-thirds of investors who use a broker said their primary...
An NASD arbitration panel awarded $70,000 to a bank broker who claimed she was terminated and defamed on her U-5 for complaining about sexual harassment and regulatory problems at her firm.Donna Brennan worked for Northeast Brokerage Services, a...
Shutting down bad-apple market makers can be a slippery business. Nearly three years ago the NASD began investigating La Jolla Capital, a 140-broker firm in La Jolla, Calif., for numerous penny stock trading violations. Meanwhile, La Jolla took...
In an NASD arbitration case decided last July, Daniel Davila, formerly a broker with Monroe Financial Corp. in Bloomington, Ind., was banned from contacting clients he obtained while working at Monroe, for a period of two years from the date he...
Almost a year after the SEC began asking about the industry's progress on mutual fund portability, little in the way of concrete activity appears to be happening.Although one large firm, Prudential Securities, has recently entered into mutual fund...
Results from a Securities Industry Association (SIA) investor survey, released during the firms' annual convention in Boca Raton, Fla., Nov. 5-8, show that 56% of investors with a broker prefer paying commissions versus just one-third who said...
Smith Barney brokers may be getting calls from some clients over a class-action mailing sent out in late September.Though the letter is six pages of legalese, the issue is relatively simple: When Smith Barney acquired Shearson, it upped the annual...
Last March, SEC enforcement chief Bill McLucas told a compliance conference in New York that his agency doesn't regularly review arbitration cases for possible follow-up enforcement action, while admitting at the same time that arbitrations might...
The Taxpayer Relief Act of 1997, approved last August, didn't specifically mention variable annuities. But by cutting capital gains rates, it gives unsheltered alternatives a more level playing field. And the Roth IRA likely will prove a more...
