This week, Smith Barney will become the first firm to make a change to its payout grid as a result of the securities industry’s recent battle over broker overtime pay and so-called chargebacks (when the firm...
Here is a new twist in the broker overtime pay lawsuits: The Department of Labor (DOL) says brokers are not entitled to overtime pay after all. Well, that is, unless the DOL is wrong, which it allowed could be the...
Don't take this the wrong way, but brokers wirehouse reps in particular tend to be a worried lot, regularly complaining about their firms even in the best of times. Indeed, they seem to be more prone to conspiracy...
Eliot Spitzer may have less than a month left as New York State's attorney general, but the governor elect says there may be at least one more high-profile enforcement action against a major Wall Street firm before he...
Merrill Lynch has decided to consolidate the numerous overtime lawsuits that have been filed against the firm and settle nationally with its brokers. It is the third securities firm to do so—earlier this year...
Along with holiday festivities, December offers you and your clients a couple of weeks to sort out tax-preparation plans. And for the average American that increasingly means planning for the alternative minimum tax ...
Brokers generally like their jobs, but seem to have channel-envy. At least that’s what Fidelity unit National Financial found in its survey of brokers conducted this summer.
HBO is coming to Wall Street. Well, not really, but the network has signed on a new comedy series about a 40-something hedge fund manager and his Wall Street pals. The creators of the show, who also developed HBO's...
The independent contractor broker/dealer model is growing to put it mildly. In fact, between 2003 and 2005, the sector saw a 32 percent increase in revenue.
