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Some brokerage and RIA firms are on the hook, literally, for their advisors' telephone conversations in particular those with a certain number of reps who've previously worked at firms
Proposed legislation aimed at restricting the use of independent contractors for labor and tax purposes is back on the federal to do list. Independent broker/dealer executives are worried the legislation could put them out of business
Decoy Client Sometimes a fake client is an advisor's best friend, unless, that is, the advisor gets caught. On March 9, 2009, the SEC charged Leila Jenkins and her firm, Locke Capital Management Inc., with inventing a client with a massive and...
In 2008, New York City Mayor Michael Bloomberg actually got wealthier, as did George Soros and hedge fund manager John Paulson (the guy who bet against subprime before the melt down). Bloomberg is now the richest man in Big Town and that's saying...
In an effort to catch future Madoffs before they strike, the SEC would like to ask your clients a few questions. Over-the-top government meddling or simply a good idea?
With the market and Wall Street’s reputations in tatters, clients are fleeing former high-flying financial powerhouses and flocking to banks and trusts - those boring firms of yesteryear
It's well settled in American jurisprudence governing trust administration that the trustee's duties of due care and prudence in holding and managing trust assets include the duty to diversify investments.
FINRA recently awarded $100,000 to baseball broadcaster Tim McCarver related to his losses on Morgan Keegan mutual funds. McCarver invested $400,000 in four closed-end mutual funds and one open-end fund. The funds suffered from the meltdown in...
