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Registered Rep.
February 1, 2005
Will Leitch |
Smiling Through the Pain If Edward Jones reps are dismayed by the firm's record-setting SEC fine and the subsequent dismissal of their managing partner, Doug Hill, they're doing a good job of covering up.   |
Registered Rep.
June 1, 2004
Will Leitch |
Accused A recent mutual fund scandal at Edward Jones causes a temporary hiccup in the firm's reputation. |
Registered Rep.
December 21, 2004
Will Leitch |
Ed Jones Agrees to Pay $75 Million in Revenue-Sharing Case Edward Jones has agreed to a $75 million settlement with the SEC, the NASD and the New York Stock Exchange as punishment for failing to disclose to clients information about the firm's revenue-sharing arrangements with mutual funds. |
Registered Rep.
June 5, 2006
John Churchill |
Edward Jones' to Pay for Revenue Sharing, Still Faces Civil Complaints The financial firm will soon be writing a lot of checks to a lot of clients: $75 million in checks, to be exact. The payday is actually a payback per the terms of Jones' 2004 settlement with regulators for inadequate disclosure of revenue-sharing practices in its mutual funds sales. |
Registered Rep.
March 24, 2005
Kristen French |
Mutual Fund Enforcement Picks Up Steam On March 23, the SEC and NASD handed out fines in mutual fund-related punishments totaling more than $80 million to five firms. And that is likely just the beginning of a coming avalanche of similar regulatory actions, legal experts say. |
Registered Rep.
May 21, 2004
Will Leitch |
Roye Blasts Revenue Sharing at ICI Conference; Strong Settles The SEC's director of its investment management division delivered perhaps his strongest remarks yet on mutual fund malfeasance. |
Registered Rep.
January 1, 2007
John Churchill |
Will Jones Wrap it Up? Buy-and-hold Edward Jones is considering a platform option it has long eschewed as foreign to the firm's culture: fee-based accounts. |
The Motley Fool
May 20, 2004
Tim Beyers |
American Express Unit in Scandal The broker could be a target of a regulatory inquiry into mutual funds revenue-sharing. How can you tell if your own broker or advisor has a conflict of interest? |
Registered Rep.
April 1, 2005
Luxenberg & French |
A Pile of Reasons Regulators and broker/dealer management have gone overboard with mutual fund disclosure. Take the case of the B-share class of mutual funds. |
Registered Rep.
April 7, 2005
Kristen French |
NASD Advocates More Disclosure, Less Paper Broker/dealers and their reps may get a big break on point-of-sale disclosure if the Securities and Exchange Commission heeds recent NASD advice. |
Registered Rep.
January 1, 2006
John Churchill |
I Fought the Law After stepping into the ring last spring with California Attorney General Bill Lockyer over fund disclosure practices, American Funds recently knocked the AG on the canvas; Edward Jones, another Lockyer target, hasn't been so lucky. |
Registered Rep.
January 1, 2005
Will Leitch |
529 Plans in the Crosshairs To virtually no one's surprise, regulators have begun scrutinizing how 529 plans are peddled. |
Registered Rep.
May 1, 2005
Kristen French |
Scandal Scorecard: Mutual Funds on Top With the SEC and NASD recently levying more than $80 million in fines to five firms (for transgressions related to revenue sharing and B shares), mutual fund sales practices officially sit on the front burner. |
Registered Rep.
July 1, 2005
Christopher O' Leary |
The Fund Family That Said No While in the past few years many funds sued by regulators have been quick to settle, American, the second-largest fund family in the U.S. with $650 billion in assets is fighting back. |
Registered Rep.
November 27, 2002
Will Leitch |
Going Upstream Prudential gives up bringing the U.S. brokerage model to the Old World. |
Registered Rep.
February 1, 2005 |
Comings & Goings Edward Jones announced in an SEC filing settling... Greg Fullmer, who had been with Goldman Sachs for 11 years... Nick Stonestreet has been promoted by Merrill Lynch... etc. |
On Wall Street
October 1, 2013
Mason Braswell |
Non-Solicitation Disagreement What can you say without crossing the line and violating a non-solicitation agreement? |
Registered Rep.
February 3, 2009 |
EJ Employees Are Lovin' It Edward Jones made Fortune magazine's "100 Best companies To Work For," list again this year, its tenth year on the list. |
Registered Rep.
July 2, 2003
David A. Gaffen |
Morningstar Editors Differ on Fund Disclosures Among the proposed revisions to mutual fund disclosure rules, the one relating to "soft-dollar" arrangements between fund companies and brokerages is touching off particularly spirited debate. |
Registered Rep.
October 1, 2004
Will Leitch |
RIAs Kickin' Back Three registered investment advisors were accused by the SEC of accepting cash payments from TD Waterhouse in return for putting client assets with Waterhouse. |
Registered Rep.
April 1, 2006
John Churchill |
Keeping Up With the Joneses While Edward Jones will likely continue to lose larger producers until it finds another way for them and their wealthier clients, the business of the firm is really about serving the middle market. |
Financial Advisor
April 2004
Tracey Longo |
Wanted: Real Disclosure Rules on brokers compensation disclosure are changing---but slowly. |
Registered Rep.
December 1, 2005
Kevin Burke |
Edward Jones: Whistle While You Work According to survey results, financial advisors working at this financial firm seem to be living a charmed life. Here's why. |
Registered Rep.
August 23, 2005
John Churchill |
Proprietary Matters for AEFA and UBS Selling proprietary product via a firm's own sales force was once considered a great strategy for maximizing revenue. In another sign that that strategy is dead: UBS and Ameriprise are now embroiled in separate class-actions suits. |
Registered Rep.
April 29, 2010
Christina Mucciolo |
Edward Jones Raises FA Production Expectations Edward Jones announced that it had laid out increased production expectations for its army of 12,700 advisors that will take effect next year. |
Registered Rep.
August 1, 2004
Will Leitch |
The Reformation When the scandal craze that has gripped the securities industry first began two years ago, few in the industry recognized how deep it might go. |
Wall Street & Technology
October 26, 2005 |
Costly Timing According to a report, compliance with the SEC's regulatory response to market timing abuses - Rule 22c-2 - will cost the mutual fund industry a total of $617.5 million over the next three years. |
Registered Rep.
August 18, 2004
Will Leitch |
SEC Unanimously Votes to Ban Directed Brokerage The 5-0 vote surprised few. Perhaps more worrisome was the call for comment on overhauling or banning outright 12b-1 fees, which were described as disguised commissions. |
Registered Rep.
October 20, 2004
Will Leitch |
Tough Talk at SIA Mutual Fund Conference NASD Chairman and CEO Bob Glauber blasted the mutual fund industry for trying to shift the focus of SEC regulation away from the people it was intended to protect: the investors. |
Registered Rep.
November 5, 2003
Will Leitch |
NASD: Brokerages Owe $86M To Investors The summer 2003 scandal involving unpaid breakpoints -- sales-charge discounts that mutual fund companies provide investors who put in a certain amount in a selected fund -- might have been dwarfed by the market-timing scandal, but the SEC and the NASD haven't forgotten about it. |
The Motley Fool
June 9, 2004
Tom Taulli |
Alloy Finally Files When a company makes a late filing, it always raises concerns. The youth-oriented e-commerce and marketing company delayed its 10-K by a few months. |
Registered Rep.
October 23, 2003
John Churchill |
Edward Jones hit with $2.7 million fine One of the firm's brokers overloaded a client's account with unsuitable investments on margin. |
The Motley Fool
February 17, 2005
Tim Beyers |
Is American Funds Un-American? And you thought the fund scandal was over. But don't despair; there is something you can do. From now on, recognize that your broker and advisor are often salespeople first. Your portfolio will thank you for it. |
InternetNews
December 5, 2007
Larry Barrett |
Novell Delivers a Different Kind of Earnings Surprise Novell caught everyone unawares this morning when it failed to report its fourth-quarter and year-end results. |
The Motley Fool
July 12, 2007
Brian Lawler |
Dendreon Under Attack Following an unfavorable regulatory decision for its lead drug Provenge, the biotech is now the focus of an SEC inquiry. |
Investment Advisor
January 2007
Kara Stapleton |
News & Products Bank of New York and Mellon Financial Corporation announced plans to merge... The brokerage firm Jefferies & Co. will pay $9.7 million to settle SEC charges... New York Attorney General Eliot Spitzer has sued UBS... etc. |
Registered Rep.
September 9, 2005
Stan Luxenberg |
Imagine 50 Eliot Spitzers When are mutual fund companies charging too much in advisory fees? What constitutes proper disclosure of revenue sharing? And which governmental authority has jurisdiction over these issues? |
The Motley Fool
October 8, 2010
Travis Hoium |
Fuqi International Shares Popped: What You Need to Know I am wary of any company being investigated by the SEC, so watch that you don't get caught in an avalanche if it finds something. |
Registered Rep.
February 17, 2005
John Churchill |
NASD Charges American Funds with Directed Brokerage Violation Saying it's just as impermissible to make directed brokerage payments as it is to receive them, the NASD charged American Funds---one of the country's most reputable asset managers---with paying kickbacks to brokerages for selling its funds. |
Registered Rep.
June 1, 2005
Karen Donovan |
No More Slap on the Wrist Regulators are getting tough and creative on registered reps because they suspect that fines aren't a strong enough deterrent to stop illegal behavior. |
Registered Rep.
September 1, 2004
Will Leitch |
Directed Brokerage Goes Down for the Count The first target has been hit: Directed brokerage is no more, and 12b-1 fees might be in more danger than had been thought. |
Registered Rep.
February 18, 2004
John Churchill |
SEC Puts Forth Mutual Fund Rules Proposals The SEC has put forth three proposals that could drastically change the way mutual funds are sold. |
Registered Rep.
September 1, 2005
Karen Donovan |
Under Siege Executives of broker/dealer firms are not exaggerating when they say it seems like regulators are locked into a competitive battle to collect the most pelts on Wall Street. |
Registered Rep.
February 21, 2012
Kristen French |
Due Diligence: Edward Jones Has an Edge at Training in an Industry That Stinks at it Only about one out of every five rookies in the Wall Street brokerage business makes it through year two or three of a four-year training program, according to industry consultant CBM Group. |
Registered Rep.
January 1, 2005
David A. Geracioti |
A Whole New Ball Game Financial advisors who grew accustomed to the little, and sometimes not so little, treats that mutual fund wholesalers lavish on them may have noticed a certain lack of swag lately. |
Registered Rep.
March 31, 2011
John Aidan Byrne |
Merrill, Wells, Ed Jones Jack Up Trainee Hiring The new training comes at a time when a number of currents in the business are converging to create what many predict will be a talent crunch. |
Registered Rep.
November 4, 2004
David A. Gaffen |
Serenity Reigns in Boca Raton Perhaps it was the recent victory of President Bush that heartened this business friendly crowd, or the tranquil Boca Raton setting, but the annual Securities Industry Association conference exudes an oddly serene tone. |
Registered Rep.
January 1, 2005
David A. Gaffen |
Third Time Is a Harm A NASD proposal first announced in 2003 requires that reps with three or more formal complaints against them receive extra supervision from their firms. Most major broker/dealers are already operating as if the rule were in place. |
Registered Rep.
April 28, 2005
John Churchill |
NASD Sends Older Reps Back to the Classroom All registered reps are required to complete the regulatory sections of the NASD's continuing education curriculum. According to the Securities Industry/Regulatory Council on Continuing Education, there are currently 109,000 exempted reps that will now have to take the test. |
Registered Rep.
May 26, 2005
Kristen French |
Under ERISA, No Padding Profits with Revenue Sharing Under a recent Department of Labor directive, revenue-sharing arrangements between mutual funds and advisors to employee benefit plans can no longer be used to pad profits. |
