In keeping with regulators trying to be more proactive and less reactive, the SEC is cozying up to newly registered investment advisers. Have you received a “welcome letter?”
An NASD arbitration panel awarded a former Merrill Lynch broker $1.6 million for wrongful termination and defamation, claims he had filed against his former employer. The award included compensatory damages of $400,000 plus interest and punitive...
The securities industry is fighting tooth and nail to save 12b-1 fees. Exactly one month after the June 19 SEC roundtable convened to discuss the fate of 12b-1 fees, the securities industry’s lobby group, the Securities Industry and...
Merrill Lynch’s retail brokerage arm turned in another strong quarter, as fee-based revenue continued to climb to record levels. Merrill Lynch Global Private Client saw its revenues increase by 13 percent to $3.3 billion from $2.9 billion in...
Brokerage house got you down? For many brokers, moving to a private bank is equated with less autonomy—not to mention the scary world of salary-plus-bonus comp. But for others, the lure of the elite private banking brands is enough; at the...
Seems like NASD and NYSE regulation can’t catch a break. First it was Muslims, now it’s the Financial Planning Association that is unhappy with the merged regulatory bodies’ potential new name.
We’ve mentioned it here before, but it’s worth saying again: Nearly half of a stock’s price movement is tied to the performance of its respective group (sector and industry).
You’ve probably heard about Bear Stearns’ CEO Jimmy Cayne’s numerous golf outings in June—while his company’s hedge funds were tanking. You might have also heard that he tends to score in the high 90s, so it might not...
With the Wachovia purchase of A.G. Edwards (for $6.8 billion) in the fourth quarter, it’s not just A.G. Edwards reps (some of whom fear that the AGE corporate culture will change) who are worried. So are acquired firm’s branch managers...
