I thought this smelled when I first heard about it. When Merill Lynch merged with Bank Of America, the retention awards were made by an entity called Merrill Lynch International Finance, or some such nonsense. And I heard that there [...]
It’s interesting how the securities business goes in cycles. Over 20 years ago, my former employer Prudential Securities (now Wells Fargo Advisors) had problems with limited partnerships. At the time, the Prudential Securities name became synonymous with limited partnership sales, [...]
Palm Beach County is famous for many things. Burt Reynolds, Tiger Woods, Michael Jordan, Spring Training for the World Series-winning St. Louis Cardinals are among them. Sometimes Palm Beach County gets in the news because the United States Supreme Court [...]
It’s all over the news, at least that section of the web that I frequent, that FINRA employees changed documents before handing them over to the SEC. The Reuters story by Suzanne Barlyn and Sara Lynch can be found here. My [...]
This concept has always fascinated me. A company such as Citigroup pays a huge fine but says “we didn’t do anything wrong.” In this case, Citigroup agreed to pay the fine for allegedly piecing together a sweetheart transaction where it made money [...]
In case you don’t scour the Internet looking for my name everyday (I don’t think my mother does either, so don’t feel bad), you probably noticed that the blog was quiet this summer. I took a long vacation. In fact, [...]
In May of last year, the State of Florida amended its registration rules regarding the criminal histories of stockbroker applicants. The amendment assigns year values for specified crimes. Those year values then disqualify an applicant according to its terms. For [...]
Statistics and percentages can be fun. (Cue groans here) Sometimes it can be interesting to dig deeper into the statistics and see what else they might mean. Each month, FINRA releases arbitration statistics for the month ending one month prior. [...]
OK, so I’m easily entertained. I still laugh when David Letterman has the sneezing monkey. But this commercial caught my eye. In the wake of mergers of banks, both voluntary and shotgun, SunTrust‘s message rings true. They just better hope [...]
Loyal readers (who may be wondering if I had lost interest in the blog) will recall that Chase Investment Services lost an arbitration to Morgan Keegan and Todd Rozzo in March of this year. Chase tried to enforce a contract [...]
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