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With a little over one month before its maiden Board of Governors election, the new industry self-regulator FINRA faces its boldest challenge yet not only to its own nominees for the board, but also to its own integrity. The Financial Industry...
When a Portand, ORE.-based independent rep. recently took detailed client information with her to her new broker/dealer, she had no idea that she was breaking the law. With her current b/d on the verge of being bought out by a much larger firm...
Q: On a periodic basis, I prepare appraisals of my clients' accounts. Some of my clients have expressed interest in continuing to receive these appraisals, others have told me that they don't review them, and a few have told me that they would...
Blame Frank Gruttadauria. A little over one year after NASD's new supervisory control rules (3012 and 3013) took effect, broker/dealers are tightening the screws on the way they supervise their brokers and advisors. Some firms have implemented...
Despite mounting sub-prime mortgage woes, hedge funds are doing better than ever. In fact, the second quarter of 2007 saw hedge funds accumulate net new assets of $59 billion, making it the industry's second best quarter on record after first...
When Bob McCann flew to Washington, D.C., on July 16 to meet with SEC Chairman Christopher Cox, it was a last-ditch effort to save fee-based brokerage accounts
Broker-dealers may get a long wished for break from the burdens of principal trade regulation for the investment advisor side of their businesses—for a little while anyway.
Last Wednesday, August 15, a DHL deliveryman uncovered over 100 animals (cats and dogs) living and dead in total squalor in the $2.4 million dollar Saddle River, NJ home owned by Merrill Lynch broker, Philip Tamis, 66 and his wife, Cynthia Stewart...
When Jenkens & Gilchrist, the 56-year-old national law firm based in Dallas, closed its doors for good in March of 2007, it also seemed to mark the end of one of the nation's highest profile tax scandals. Jenkens, specifically its Chicago tax...
