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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
March 21, 2007
S.J. Caplan |
Check Out Your Broker A redesigned website tells you what you need to know before you invest. |
The Motley Fool
December 17, 2003 |
Investigate Your Broker How to check on your stockbroker, to see if he's gotten in hot water in the past. |
Registered Rep.
September 3, 2003
David Gaffen |
NASD: Brokers With Complaints Need A Watchful Eye Heed the red flags. This is the thrust of a new NASD proposal that would require brokerage houses to devote extra supervision to reps with extensive numbers of complaints or regulatory actions against them. |
Registered Rep.
February 19, 2010
Christina Mucciolo |
FINRA Seeks to Expand BrokerCheck, Make Some Records Permanent The Financial Industry Regulatory Authority announced it is seeking the SEC's approval to expand the amount of information made public on current and former brokers' permanent records in its free online CRD database, BrokerCheck. |
The Motley Fool
May 23, 2007
Selena Maranjian |
Brokerage-Related Warnings There's a lot of information for investors at the NASD website. Here are a few topics about which it has recently issued alerts. |
The Motley Fool
May 11, 2011
Selena Maranjian |
Sneak a Peek at Your Broker's Record Find out whether your broker has been in trouble. |
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.
March 17, 2003
Will Leitch |
Unfair Disclosure For The Broker? In a little-publicized move, the NASD has formed a Public Information Review Initiative, which would radically expand investors' access to information about brokers. |
Registered Rep.
January 8, 2003
Will Leitch |
NASD: Firms Are Overcharging Clients The NASD, acting on a tip acquired during an investigation, has sent several brokerage firms word that it has discovered brokers are not providing earned discounts to mutual fund investors, therefore overcharging them. |
Registered Rep.
August 28, 2002
Rick Weinberg |
NASD Looks To Approve Broker, Brokerage Firm Use of Investment Analysis The NASD is looking to approve a proposal that would allow brokers and brokerage firms to provide clients with interactive investment analysis tools. |
Registered Rep.
November 1, 2005 |
Supplemental Inquiry Q: Is there any way my employer can find out if I receive W-2 income from other sources... Q: Recently at a social event, a co-worker's client told me another local broker (who is a competitor) had made some disparaging remarks about my co-worker... etc. |
Registered Rep.
October 25, 2006
Halah Touryalai |
Another One Bites the Dust: Broker Fined Record Amount for Market-Timing Scheme The NASD fined Paul Saunders, a registered rep, CEO and majority owner of James River Capital Corporation, $2.25 million. That sum represents the largest fine against an individual for marketing timing, including disgorgement of about $750,000 in illegal profits. |
Registered Rep.
May 1, 2004
Will Leitch |
Out, Damn Spots Already, stockbrokers have located a loophole in a NASD instituted a rule meant to prevent stockbrokers from, in effect, buying their way out of client complaints. |
Registered Rep.
January 1, 2003
Bill Singer |
Who Regulates the Regulators? In the securities industry, brokers are expected to follow the rules. If you don't, you will be held accountable by the NASD. But what do you do if the NASD doesn't follow the law? |
On Wall Street
October 1, 2008
Alan J Foxman |
Heightening Supervision Advisory firms have flexibility in creating plans to supervise brokers who have a history of complaints or disciplinary issues. |
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.
August 17, 2005
Kevin Burke |
NASD Tightens Noose on Hedge Fund Sales Practices A top National Association of Security Dealers official said on Wednesday that the regulatory agency has launched an investigation into brokers selling hedge funds to individual investors without alerting them to the potential risks. |
Registered Rep.
March 12, 2007
John Churchill |
NYSE/NASD Merger Attracting Lawsuits A California broker/dealer who has sued to stop the merger of the NYSE and the NASD is looking for like-minded folks to join its cause. |
Registered Rep.
January 1, 2005 |
Blotter John Van, head of Murphy Van Securities, was barred from the industry... The NASD fined 29 firms a total of $9.2 million for late reporting... The NASD's mutual fund task force released its initial report... |
Registered Rep.
November 7, 2006
Kevin Burke |
NASD Whacks Two Firms with Fines Over Ill-Advised 529 Sales The NASD said on Monday that it has fined Chase Investment Services and MetLife Securities for failing to establish internal controls to supervise the sale of 529 college savings plans. |
The Motley Fool
January 18, 2011
Selena Maranjian |
Protect Yourself From Your Brokerage When you invest in stocks, you accept some risk. Your stocks may drop in value, shrinking your investment. That kind of risk is unavoidable, but other brokerage-related risks are not. |
Registered Rep.
January 12, 2004
Will Leitch |
Extended Life for Controversial NASD Initiative A controversial NASD initiative that would give investors easy access to complaints against brokers is undergoing some change, but it's looking increasingly likely to come to fruition. |
Investment Advisor
June 2009 |
B/D News & Products Important news for broker/dealers: The Financial Industry Regulatory Authority (FINRA) is proposing a major expansion of its BrokerCheck service... Fraud charges against several entities and individuals who operate the Reserve Primary Fund... more... |
Registered Rep.
April 1, 2008
John Churchill |
The Failure Chain Consider the curious and rather grotesque case of Gary J. Gross, a financial advisor from Boca Raton, Fla. Gross' U4 is close to 100 pages long, and lists 35 customer complaints. |
The Motley Fool
August 2, 2004
Selena Maranjian |
Buying Your Brokerage? There are good and bad ways to invest in securities firms. Look for these red flags before investing in a broker-dealer offering (BDO.) |
Registered Rep.
January 1, 2003
Ross Tucker |
Let's See Those Credentials For the thousands of reps who have found themselves unemployed since industry employment peaked in 2000, the matter of retaining one's license to sell securities is a potential issue. |
Registered Rep.
April 5, 2012
Josh Brown |
Data Dive: Where Brokers Get a Second Chance From Brightscope's research, we learn that Wells Fargo is the most "forgiving" of the large brokerages with a whopping 1.29% of their reps having been terminated before. |
Registered Rep.
November 30, 2005
Kristen French |
Wachovia Shaves Payout, Levels Charges on In-House and Outside SMAs After simplifying it's payout structure earlier this year, Wachovia Securities announced that it would make some more tweaks in 2006 and raise ticket charges on some in-house money-management products to match those of third-party products. |
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.
October 26, 2006
Kevin Burke |
NASD Fines B/D for Account Transfer Charges A small independent broker/dealer was slapped with a $50,000 fine and sanctioned for overcharging more than 1,500 customers who decided to follow their brokers to another firm. |
Registered Rep.
November 8, 2011
Jerry Gleeson |
Auction Rate Revenge For tens of thousands of investors who were trapped in the auction rate securities debacle that started in 2008, finances are getting back to normal. |
On Wall Street
January 1, 2010
Alan J. Foxman |
Blamed for ARS He Didn't Sell Misrepresenting auction-rate securities... BrokerCheck public disclosure system... |
Registered Rep.
October 1, 2002
David A. Geracioti |
Outgrowing the Series 7? Registered investment advisors must take the Series 65 exam. As the line between brokers and financial advisors blurs, what responsibilities do brokers that dispense advice and collect a fee based on assets have? |
Registered Rep.
July 1, 2004
Gregg Wirth |
It's the Advice, Stupid The NASD's probe definitely has many brokers and branch managers in the industry nervous. They are unsure exactly what regulators are looking for, what constitutes a violation and what, if any, penalties could be levied. |
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. |
The Motley Fool
February 11, 2004
Selena Maranjian |
Avoid "Brokerage Identity Theft" Identity theft doesn't just happen to individuals. Even brokerages can be victims. Be wary when someone contacts you claiming to be a brokerage, even a well-known one. |
Registered Rep.
April 1, 2006 |
Mudslinger Stains Q: I've been a broker for 22 years and worked for two of the largest brokerage firms in the world. Several years ago, I received a phone call from a long-standing client, who'd received something strange in the mail... A: Document what is taking place... etc. |
The Motley Fool
January 5, 2007
Selena Maranjian |
Brokerage Questions for Beginners Know what to ask before you start investing. |
Registered Rep.
February 11, 2004
John Churchill |
Dueling Trend Lines on Complaints Brokers have become more attuned to investor complaints in recent years, but they must be forgiven if they're having a hard time drawing conclusions from the trend numbers reported by regulators. |
Registered Rep.
September 28, 2004
David A. Gaffen |
The NASD Has Clients' Number The organization will be increasing its use of unsolicited phone calls to clients within the course of investigations into broker/dealer activities -- including calls to clients who have not lodged complaints, which has angered executives. |
Registered Rep.
August 20, 2004 |
Meting out Justice: NASD Issues 'Extraordinary Remedy' on Broker/Dealer for Market-Timing Abuse In its investigation, the regulator found that from January 2001 through August 2002, National helped four hedge fund clients conduct market-timing in 13 funds that prohibited or restricted such activity. |
Registered Rep.
February 1, 2006
John Churchill |
Schapiro in, Glauber Out at NASD in 2007 Mary Schapiro, head of NASD Regulatory Policy and Oversight, will be taking over for Robert Glauber as chairman of the NASD at the end of the year. One tough cop replaces another. |
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. |
On Wall Street
September 1, 2010
Alan J. Foxman |
Ponzi Schemes And Problems Paying Fines Q&A: What does it mean for advisors that records are now available to the general public online?... How will arbitration payments I must make but cannot afford right now affect my license?... more... |
National Real Estate Investor
October 15, 2003
Parke Chapman |
NASD Fines Wells REIT Sponsor For Rewarding Brokers Wells Investment Services, sponsor of Wells Real Estate Investment Trust (REIT), has been sanctioned by the National Association of Securities Dealers (NASD) for rewarding broker/dealer reps who sell shares of the REIT with non-cash gifts. |
Financial Planning
November 1, 2006
Marianne Czernin |
Compliance Tips Registered reps have lots of eyes watching them. Supervisors, compliance personnel, sales directors, and operations all scrutinize reps' activities. But these aren't the only people interested in reps' movements. |
Registered Rep.
August 1, 2005
John Churchill |
Brokers Called Up for Active Duty Face Licensing Headaches, Book-Poaching Colleagues For registered rep reservists serving in one of the nation's armed forces, coming home and returning to the job is soon to get a lot easier. Of course, the NASD says there is nothing it can do to prevent colleagues from stealing a GI advisor's book. |
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.
February 1, 2003
Will Leitch |
NASD Investigates Potential Breakpoint Violations The confusing slew of regulations that have followed on the heels of the Sarbanes-Oxley Act has tapped a strange feeling in brokers: the fear of violating securities rules unwittingly. A recent investigation by the NASD shows their worries are not unfounded. |
