The NASDR in January put in place a policy making it more difficult for brokers to get information off of their disciplinary records. Arbitrator-ordered expungements of information from the Central Registration Depository (CRD) must now be...
A report commissioned by the Investment Dealers Association of Canada (IDA) has recommended significant changes in how the regulator and trade group manages itself and the brokerage industry.The report, prepared by the Boston Consulting Group and...
As one of Nasdaqs largest market makers, Herzog Heine Geduld (HHG) is a familiar name to many in the financial services community. From its expansive trading floor in Jersey City, N.J., the firm deals in roughly 5,000 issues--just about every...
Adena Smith, Financial Consultant and Sales Manager, Salomon Smith Barney, Beverly Hills, Calif.Salomon Smith Barneys Adena Smith didnt think twice about becoming a broker 1212 years ago. The native Texan came from a family where the ratio of...
A.G. Edwards has gotten hit with two exceptionally large arbitration awards for wrongful termination and defamation of managers in a little more than three months.A $1.25 million award was won by former producing branch manager Timothy Finneran...
Brokers beware. The prospects on your cold-calling lists might be more than cold. Some may be hostile, especially if they have taken the time to put their names on one of a growing number of state no-call lists.Georgia is the fourth state to enact...
When the stock market plunged from late August to October last year, brokerage firms' brisk pace of hiring brokers slowed.Merrill Lynch announced layoffs in October--3,400 positions--but none of them were brokers. The cuts included corporate...
Royal Alliance producers are positive about the firm's new Web-based workstation, dubbed Vision 2020.Royal demonstrated the new workstations for brokers in regional meetings last fall. Now, any of the firm's 3,800 reps who are equipped with a...
Like Elliot Ness in "The Untouchables," who led the charge to clean up Al Capone's gangster operations in Chicago, the Securities and Exchange Commission executed its first major sweep against fraudsters on the Internet. In October, the SEC filed...
Merrill Lynch and American Express Financial Advisors are fighting to preserve their ability to sue departing brokers.Largely at Merrill's urging, with support from American Express, the NASDR has delayed the effective date of a final rule...
