File this one under, damned if you do, damned if you don’t. Over the past few months, Merrill Lynch executives have met with African-Americans financial advisors to settle a class-action lawsuit alleging systemic racism on the part of the firm.
Are there too many redundant regulators crawling all over Wall Street brokerages? Or, put another way, are federal securities laws crafted in the 1930s still effective 70 years on? And, more important, is a privately owned, for-profit NYSE Group...
Short-sellers have been blamed for the Great Crash of 1929 (turns out unfairly) and all kinds of market manipulation in the years since. But, as investors learned in the three-year bear market, it may not be so smart to be un-hedged all the time...
Despite its reputation for having a somewhat bawdy sales culture, Wall Street has been downright cutting edge in its equal treatment of gay and lesbian employees. So why are gay and lesbians still so suspicious?
Today marks the end of the comment period for the NASD proposal requiring more stringent rules governing gift and entertainment practices on Wall Street and, while the NASD won’t say what the response has been until Thursday, the proposal is...
Yesterday, Morgan Stanley became the third wirehouse, after Merrill Lynch and UBS, to settle class action suits with California brokers over overtime pay in the past seven months – the second in three weeks.
The NASD is showing its pride over the popularity of its 10-month old online regulation and compliance educational programs. Still, from the student prospective, it’s tough to tell how much of an impact the programs are really having.
Philip Spartis, a former highflying Salomon Smith Barney broker, last week won a $1 million defamation judgment against lawyer Stuart Goldberg in an Arizona court. Goldberg had claimed Spartis, who used to handle accounts for executives of...
