Tag:
Brokerage Firm
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Latest Headlines
Wall Street-free arb panels popular
In hindsight, this is anything but surprising: A new arbitration program allowing aggrieved investors to have their cases heard by a panel with no links to Wall Street firms has proven popular. In fact, nearly 80 percent plaintiffs are opting for such panels.
"It is higher than I anticipated,"
CFTC seeks widespread audits in wake of MF Global
Thanks, MF Global!
The commodities industry is not feeling a lot of warmth and fuzziness for the disgraced brokerage firm and its former CEO, Jon Corzine. The CFTC has apparently ordered every "futures commission merchants" to undergo an audit, to make sure that client money was not treated as
Krawcheck: Wall Street must work to attract younger investors
Financial advisors on Wall Street are maintaining client confidence, but must change tactics in order to attract the next generation of investors, according to Sally Krawcheck, former president of investment management at Bank of America.
Speaking at the 2011 SIFMA annual meeting in New York C
Fomer Goldman Sachs employee charged with insider trading
In an interesting civil action, the SEC has charged a former Goldman Sachs trader with insider trading, alleging that he tipped of his father to some impending ETF re-balancing activity that allowed them to generate a roughly $57,000 illicit profit. The trades were made in the name of another fami
SEC takes aim at zombie stocks
As it turns out, stocks can have long after-lives, which is often anything but heaven for end customers. Long after companies file for bankruptcy, stop filing SEC disclosures and even cease operations, their stocks continue to trade, becoming fodder in too many cases for scam artists and speculato
Is Irving Picard making too much money?
Perhaps it was inevitable that, given emotionally charged nature of the process, Irving Picard would be heavily criticized for his work winding down the Bernard Madoff mess. We've noted that the revenue generated by Picard's law firm, Baker & Hostetler, amounted to $288 million as of the end o
SEC to get tough on risk management execs
The vaunted coding error at quantitative fund manager Axa Rosenberg continues to make news. Recall that earlier this month, the firm agreed to pay $242 million for the error in its risk model. Out of
Which market is rigged against retail investors?
Michael Lewis ranks as one of the most trenchant observers of Wall Street today, as his books Liar's Poker and The Big Short amply evidence. So, it is with great interest we learned was been duped into buying some toxic assets that had been recommended by a large brokerage firm.
"The s
Behind the Bank of America, Dynasty settlement
The rise of the Protocol has significantly reduced the legal rancor over so-called breakaway brokers--those who depart their brokerage firms for greener pastures at other firms. The deal was struck in 2004 by UBS, Citigroup and Merrill Lynch. It slowly gathered steam and today can boast more than
Paperless stock transactions heat up globally
I recently paid a visit to my brokerage firm to make a deposit. I had a single stock certificate (worth quite a bit by my standards) that had been in my wife's briefcase for more than a year (a long
