Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
This weekend won’t likely be a relaxing one for UBS executives, private bankers and thousands of wealthy American clients. The New York Times reports today that the firm is under intense pressure from authorities as one of its top private...
A Manhattan Criminal Court ruled yesterday that a hedge fund manager was not seriously injured when a stockbroker threw him off his exercise bike during a spin class at a health club. The stockbroker said, yeah, he threw the hedgie off his bike...
WHEN YOUR FIRM BEGINS TO GROW, YOU HAVE TO HIRE MORE STAFF BUT THAT'S NOT ENOUGH. YOU HAVE TO DEVELOP SOLID PROCESSES TO HELP THEM WORK EFFICIENTLY AND EFFECTIVELY. Systems: John Vance knew he needed them and immediately. Three years ago, Vance, a...
Once upon a time, Ma Bell owned the phones, the U.S. Postal Service delivered all the mail, and for emergencies you sent a Western Union telegram. Then came faxes, email, instant messaging, bulletin boards, chat rooms, blogs, podcasts, WiFi and...
Expensive Bear Suit: Beverly Hills billionaire H. Roger Wang is suing Bear Stearns for allegedly duping him and his wife into buying 150,000 shares of Bear stock in the weeks before its collapse. The total purchase included 100,000 shares bought...
For years, regulators have considered altering the 12b-1 fees imposed on mutual funds. But despite hearings and public debate, no new rules have appeared. Now the SEC seems poised to issue a major proposal that would cap 12b-1 fees on C-shares and...
Many brokerage-industry watchers agree that mergers and acquisitions can be rather tiresome for clients, eroding their confidence in the firms and, often, in the reps, too. Considering the wave of deal-making in the brokerage industry of late, you...
A lot of JPMorgan Chase employees are going to be in search of new digs very soon. The firm is expected to shed itself of 4,000 of its own staff about half of whom will be replaced by incoming Bear Stearns employees. But not all of Bear's ranks...
When it Began, the credit crisis had little to do with retail brokerage. After all, the fixed income departments were the ones who made the bad mortgage bets that have since unraveled, resulting in a pileup of more than $200 billion dollars in...
A former UBS private banker, Bradley Birkenfield, charged with helping U.S. clients evade millions in taxes is going to plead guilty in court next month, reports The Times Online, the web edition of the fabled London-based newspaper.
