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There's an old saw in business that says the success of a company depends not on size but on filling a void in the marketplace. A small 24-hour convenience store can't compete with Safeway or K-Mart, but then Safeway and K-mart can't compete with...
It has been said there are few things more dangerous than a wounded beast; the New York Stock Exchange seems hellbent on proving that rule. The NYSE has had its fair share of black eyes recently, with most of its troubles related to problems...
The first target has been hit: Directed brokerage is no more, and 12b-1 fees might be in more danger than had been thought. The SEC's recent ban on the practice of directed brokerage was expected. The same cannot be said for the ominous comments...
A new study of mutual fund firms' enforcement capabilities affirms what many in the industry have known for some time omnibus accounting practices by fund intermediaries make catching timers virtually impossible. The study, conducted by the...
Change is in the air for wholesalers, thanks to the mutual fund scandals and recent banning of directed-brokerage practices by the SEC. Boston-based Financial Research Corp. recently said in a study that the changes will go beyond increased...
Like any other rep, Ron Carson, whose $870 million practice rates him as one of America's top brokers, is vulnerable. This is the conclusion he drew from a 2002 incident in which he was hit with a $12 million complaint. He was accused of a garden...
Q: In a grueling arbitration hearing this year, the complainant's attorney alleged I'd acted in a fiduciary capacity by purchasing and allocating a variable annuity for my clients. I claimed I had no fiduciary responsibility, but had merely...
As anyone who rides public transportation or watches late-night TV can attest, our society is a litigious one. We've all seen the ads: Have you or someone you love been injured? Call 800 SUE-THEM. As amusing as they might be on the surface, the...
Wealthy people and good poker players have at least one thing in common: The habit of holding cards close to their vests. At least that's what a wirehouse veteran named Jack told me while explaining his difficulty getting referrals from...
