Good Old-Fashioned Thievery: A former Wachovia Securities broker admitted to stealing the entire life savings of a retiree client. Charles Clark, 47, of St. Louis, plead guilty on Jan. 23 to 20 counts of felony theft for stealing $69,000 from a 73...
It's a funny thing: financial advisors position themselves as professionals, sometimes even comparing themselves to doctors and lawyers. Yet, like working stiffs, they want their overtime, too. UBS said it has agreed to pay $89 million to settle...
In a regulatory filing Wednesday, Morgan Stanley disclosed that it had granted James Gorman, the new head of the firm’s retail brokerage unit, around $29 million in company stock, plus options on another 302,128 shares.
Stockbrokers have won their second big overtime pay case against Wall Street firms and this may only be the beginning of a rout that could cost brokerage houses many millions of dollars more.