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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.
Wachovia Securities, with its purchase of Prudential in early 2003, suddenly became the third-largest brokerage in the country. Now, just over a year later, the firm has announced the creation of the Individual Investor Group, a unit entirely...
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A new study from Merrill Lynch asserts that the oft-predicted baby boomer retirement crisis will be a nonevent for one important reason: Most boomers don’t plan on retiring in the same fashion as their parents.
Janney Montgomery Scott, one of the country’s oldest regional broker/dealers, has announced plans to buy Parker/Hunter, a small independent b/d-investment bank based in Pittsburgh.
In a move that casts doubt on the future of mutual fund regulation, the SEC has announced that its chief mutual funds legislator, Paul Roye, will step down, effective immediately.
Dennis Herula, the 59-year-old former Raymond James Financial Services broker who lavished himself with homes and other gifts using millions of dollars stolen from clients, was sentenced to 16 years in federal prison on Friday.
Saying it’s just as impermissible to make directed-brokerage payments as it is to receive them, the NASD charged American Funds—one of the country’s most reputable asset managers—with paying kickbacks to brokerages for...
American Express announced today that it is spinning off its Financial Advisors unit (AEFA) from its credit card and travel operations. American Express shareholders rejoiced, sending shares up 6.4 percent. AEFA will be spun off to shareholders...
Deck: A response from the authors of “A threat to All SNTs,” November 2004 issue, to a letter to the editor from Richard E. Davis, member of Krugliak, Wilkins, Griffiths & Dougherty Co. L.P. inCanton, Ohio Douglas W. Stein, a member of...
