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Registered Rep.
December 12, 2006
John Churchill |
Spitzer: Thousands of UBS Clients Raped by Wraps The New York Attorney General's Office announced today that it is suing UBS Financial Services for allegedly defrauding thousands of customers through its InsightOne fee-based brokerage program.   |
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. |
Investment Advisor
April 2008 |
News & Products, April 2008 FINRA has settled cases against five firms... Fidelity Investments has agreed to pay an $8 million penalty... FINRA fined and suspended 16 registered reps of State Farm VP Management Corp. of Bloomington, Illinois... etc. |
Registered Rep.
August 2, 2005
Kristen French |
Morgan Stanley Fined $6.1 Million for Fee-Based Brokerage Slip-Ups NASD's investigation showed that from January 2001 through December 2003, Morgan Stanley failed to establish and maintain a supervisory system to review and monitor its fee-based brokerage business. |
Registered Rep.
June 3, 2003
Will Leitch |
Brokerage Chiefs in Spitzer's Sights When New York Attorney General Eliot Spitzer announced the $1.4 billion settlement of the securities conflict of interest case in April, his office warned that it was "the beginning, not the end." Wirehouses are finding out, in a big way, that he wasn't kidding. |
Registered Rep.
April 29, 2005
Kristen French |
Raymond James Fined, Drops Fee-Based Brokerage---Will Others Follow? Following the NASD fine of Raymond James for pushing fee-based accounts on the wrong clients, the next question is how the settlement will affect other firms that offer the same accounts, including wirehouse giants Morgan Stanley, Merrill and Smith Barney. |
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.
March 1, 2007
Halah Touryalai |
SEC Cracks Insider-Trading Ring The SEC has charged 14 individuals -- including employees of UBS and Morgan Stanley -- with participating in two insider-trading schemes that generated at least $15 million in illegal profits. |
Registered Rep.
February 27, 2004
David A. Gaffen |
Regulators, Industry Still Divided On Mutual Funds David Brown, bureau chief of investment protection in the New York Attorney General's office, said insurance companies who sold mutual funds wrapped in variable annuities, along with banks and law firms, may end up becoming targets of Eliot Spitzer's ire in coming months. |
The Motley Fool
April 2, 2004
Shannon Zimmerman |
SEC: Toothless No More? Is the SEC getting serious about fund industry reform? |
Registered Rep.
December 1, 2006
John Churchill |
Blotter Shelf Space No No... Broker Gets 14 Years... |
The Motley Fool
December 8, 2005
Tom Taulli |
Fidelity Soft No More Payment via soft dollars is an age-old practice on Wall Street, but its days may be numbered. In fact, this week, Fidelity indicated that it will now pay for mutual fund research from Lehman Brothers. This is good for investors. |
The Motley Fool
November 14, 2006
Selena Maranjian |
How Steep Are Some Brokerage Fees? Investors, make sure you do your homework before you choose a broker. |
Registered Rep.
October 13, 2005
John Churchill |
Market-Timer Banned and Fined Theodore Sihpol III, the former broker at Banc of America Securities (BAS) and poster boy for the market-timing scandals, agreed to pay a $200,000 fine and to accept a five-year ban from the securities industry. |
The Motley Fool
July 19, 2006
Selena Maranjian |
Find the Right Broker When it comes to handling your investments, one size doesn't fit all. Shop around. |
Registered Rep.
April 1, 2006
Kristen French |
Your Fees Under the Regulator Microscope Financial advisors had better be able to justify their fees, because regulators have been busy examining fees charged to retail clients. |
Registered Rep.
March 15, 2006
Kevin Burke |
Merrill Fined $2.5 Million Over Lax Email Oversight The SEC slapped the nation's largest brokerage with a $2.5 million fine and a cease-and-desist order for a "systemic" mishandling of email records related to its brokerage business. |
Registered Rep.
September 21, 2007
Halah Touryalai |
Banks Officially Welcomed into the Brokerage World Under New SEC Rule It only took eight years, but the SEC and the Board of Governors of the Federal Reserve System passed final rules defining how banks can act as securities brokers. |
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.
January 23, 2006
Kevin Burke |
NASD, NYSE Propose Stiffer Rule on Entertainment Spending With Fidelity Investment brokers being linked with stories of drugs, prostitution and other forms of high-flying partying, regulators are proposing stricter rules to rein in spending on longstanding methods of winning business. |
Registered Rep.
March 1, 2007 |
Blotter SEC Front Running Probe... NASD Fines Bank of America... |
Registered Rep.
November 3, 2003
Will Leitch |
Fund Scandal Implicates Stockbrokers The mutual fund trading scandals headlines seemed to implicate mutual fund family executives and hedge funds -- everybody but individual retail brokers and brokerage management. But a new survey by the SEC charges brokers with abusive trading of mutual funds. |
BusinessWeek
January 19, 2004
Borrus & Dwyer |
How To Crack Down On Mutual-Fund Fees The SEC should require uniform cost disclosure. |
Investment Advisor
August 2007 |
Upgrades The Bank of New York and Mellon Financial have completed their merger, creating The Bank of New York Mellon Corporation... SEC Chairman Christopher Cox said June 14 that he expected the Commission expand an SEC pilot program... etc. |
Investment Advisor
March 2007
Kara P. Stapleton |
News & Products National Financial announced February 1 that it is expanding its alliance program... NASD has warned older Americans about the potential downside of selling their existing life insurance polices... The SEC has authorized improvements to the NASD... etc. |
Registered Rep.
November 1, 2005
John Churchill |
Market-Timer Banned and Fined Theodore Sihpol III, a former broker at Banc of America Securities (BAS), and poster boy for the market-timing scandals -- and the first target of Spitzer to say no to a plea offer -- has settled with the SEC. |
The Motley Fool
November 24, 2008
Dan Caplinger |
4 Fees You Don't Need to Pay In this era of competition among financial-services firms, you don't need to settle for excessive fees. |
Registered Rep.
February 2, 2006
Kristen French |
Brokers Learning to Play by New Rules It's no longer business as usual on Wall Street. Starting yesterday, broker/dealers must follow a new SEC rule that requires them to disclose at certain times that they may not be acting in their clients' best interest. |
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.
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. |
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. |
Financial Advisor
April 2004
Tracey Longo |
Wanted: Real Disclosure Rules on brokers compensation disclosure are changing---but slowly. |
BusinessWeek
September 22, 2003
Der Hovanesian et al. |
How to Fix the Mutual Funds Mess Hidden fees, lax boards, and now scandal. Here's what has to be done. |
Registered Rep.
December 1, 2006
Halah Touryalai |
Out with a Bang Eliot Spitzer may have less than a month left as New York State's attorney general, but the governor elect says there two new Wall Street cases he's taking on before year's end. |
The Motley Fool
August 30, 2007
Selena Maranjian |
A Better Way to Check Your Broker? A former SEC guy is aiming to help you steer clear of ne'er-do-wells. Meanwhile, make sure that the brokerage you're using is best for your needs. Odds are, you can find a better brokerage that charges you less or offers more services. |
The Motley Fool
October 27, 2004 |
Fussing About Fund Fees Mutual fund fees may look small, but they can eat much of your earnings. |
Registered Rep.
January 1, 2006
Kevin Burke |
Spitzer Hints Scandal Is Winding Down While Spitzer remains tight-lipped on the status of the industrywide trading investigation he launched in September 2003, he hinted that it is perhaps nearing the finish line. |
BusinessWeek
October 20, 2003
Dwyer & Thornton |
Mutual Funds Feel The Heat Did they feed information to hedge funds, brokers, and others? |
Registered Rep.
June 24, 2004
John Churchill |
Morgan Stanley Sued by New Hampshire Regulators New Hampshire securities regulators are suing Morgan Stanley, charging that in 2002 the firm encouraged its brokers to sell proprietary mutual funds by using sales contests, a violation of NASD rules. |
BusinessWeek
January 12, 2004 |
The Mutual-Fund Scandals Leaving the little guy in the dark made for some nice payoffs, but the comeuppance stands to be even heftier as funds face legal actions. |
Registered Rep.
November 12, 2003 |
Morgan Stanley Launches Conflict-of-Interest Probe Morgan Stanley has announced it is conducting an in-house conflict-of-interest probe. |
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. |
BusinessWeek
January 12, 2004 |
A White Knight For Mutual-Fund Investors No mutual-fund executive wants to get a phone call from Eliot Spitzer these days. |
Financial Planning
April 1, 2005 |
News Digest SEC Investment Chief Heads to Exit... Compliance: Fund Boards Gain Control over Timing Curbs... Companies: American Funds Charged for Kickbacks... Fidelity Boosts Fund Sales... etc. |
Registered Rep.
June 10, 2008 |
Would You Invest With Client No. 9? Eliot Spitzer, the disgraced former New York State governor once heralded as Sheriff of Wall Street, is mulling launching a distressed real estate fund. |
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.
November 7, 2003
David A. Geracioti |
SEC Chief "Distressed" at "Wrongdoing" in Industry SEC Chairman William Donaldson's favorite word is distressed -- at least that was true during both his speech to the Securities Industry Association annual meeting and the press briefing that followed. |
Registered Rep.
May 1, 2004 |
Arbitrary Decisions Q & A on work-related ethical quandaries for the investment professional. |
Registered Rep.
December 1, 2004
Stan Luxenberg |
Is the Juice Worth the Squeeze? The overhaul of the mutual fund industry spearheaded by Eliot Spitzer is widely viewed as a victory for investors, but some analysts are challenging that notion. |
The Motley Fool
September 1, 2005
Selena Maranjian |
Brokerage Fees: Low or High? It can be a little more complicated than you might expect to find the best brokerage for yourself. You can get poorer if you're not rich enough. |
