Sometimes it pays to take on securities regulators, despite their financial and legal heft. Consider the case of Charles Elliott. In a rare victory for a broker in a settlement dispute with the SEC, Elliott last week won recovery of over $100,000...

On Wednesday, the SEC unanimously voted to allow Series 7 holders—registered reps—to position themselves as financial advisors—with certain caveats. But, once again with the “broker/dealer rule issue,” the SEC seemed...

Even though Morgan Stanley’s board has said that it stands behind Philip Purcell as CEO, the group of dissidents calling for Purcell’s ouster is digging in for a long, protracted fight for control of the company.

Broker/dealers and their reps may get a big break on point-of-sale disclosure if the Securities and Exchange Commission heeds recent NASD advice. In a report issued Monday, an NASD task force recommended that b/ds and mutual funds make certain...

Over the vociferous objections of fee-only financial planners, the SEC voted unanimously today to adopt the broker/dealer exemption rule.

The palace intrigue at Morgan Stanley continues—to the delight of the New York City-based financial journalism core. For days now, Morgan CEO Philip Purcell’s struggle to keep the helm of Morgan has been splashed across front pages of...

A New York judge's recent decision in Estate of Dumont1 should give trustees reason to pause and re-evaluate the investment policies and procedures of any trust for which they act, that is governed by or may come to be governed by New York law...

The House Committee on Financial Services has urged SEC Chairman William Donaldson to continue to allow Series 7 holders to call themselves financial advisors as defined by the Investment Advisers Act of 1940. Coincidentally, the House’s...

Philip Purcell, CEO of Morgan Stanley, is under fire again. In a shake-up that shocked even observers who said they had seen such an explosion coming, the beleaguered Purcell watched two of his top executives resign in protest of his leadership on...

The recent flurry of mutual fund-related punishments from the SEC is likely just the beginning of a coming avalanche of similar regulatory actions, legal experts say.