Browsing Category "Marc’s Blog"

Thoughts on being a poll watcher on election day 2012

Thoughts on being a poll watcher on election day 2012

Posted by on Nov 7, 2012 in Marc's Blog

I have been a lawyer for over 25 years. I have been blessed with representing any number of clients who have a special place in my heart. I have had clients whose financial picture changed because of the results I […]

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Being a broker means that you can say “I am Sorry” – Dow Jones Video

Being a broker means that you can say “I am Sorry” – Dow Jones Video

Posted by on Oct 31, 2012 in Investment Advisors, Securities Regulation, Stockbroker issues

I was quoted in a recent article on Dow Jones Wealth Adviser about whether or not a broker should apologize. My answer, just like one might expect from a lawyer, “It depends.” If you’re sorry you’re late returning a call, […]

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FINRA looking at broker incentives, again.

FINRA looking at broker incentives, again.

Posted by on Oct 24, 2012 in FINRA, Investment Advisors, Stockbroker issues

For as long as I’ve been involved in the brokerage business, brokers have had financial incentives. There are commissions, management fees, bonuses, trips to islands, one time there was even a contest that gave out nearly 100 leases on Porsche […]

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The Market Crashed 25 Years Ago Today.  Where Were You?

The Market Crashed 25 Years Ago Today. Where Were You?

Posted by on Oct 19, 2012 in Marc's Blog, securities, Stockbroker issues

Onwallstreet Magazine has created a slideshow addressing the numbers of the 1987 crash. It’s pretty interesting. I know a broker who actually signed his FA Training Agreement on that day. I was working at a mid-size firm in Princeton, New […]

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CRD, U-4 and U-5 Expungements – Can they be done in court?

CRD, U-4 and U-5 Expungements – Can they be done in court?

Posted by on Aug 31, 2012 in Marc's Blog

Traditional wisdom held that the only way to get an expungement of a customer complaint was from a FINRA arbitrator. Since time immemorial, brokers have sought expungements from arbitrators. We have handled a number of these types of expungements. Frankly, […]

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FINRA allows for special procedures for big cases.

FINRA allows for special procedures for big cases.

Posted by on Jul 6, 2012 in arbitration, FINRA, securities

FINRA announced this week the establishment of a pilot program for cases involving $10 million dollars or more. If your claim is $9.5 million, you’re not out of luck. The “pilot program” is available to any case, but they are […]

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FINRA sanctions brokerage firm for taking too much customer information.

FINRA sanctions brokerage firm for taking too much customer information.

Posted by on Jun 21, 2012 in FINRA, Investment Advisors, Marc's Blog, Securities Regulation, Stockbroker issues

There is now apparently a difference between taking customer information and taking too much customer information. Since I joined the securities business in 1983, brokers have moved from one firm to another with varying levels of difficulty and information. In […]

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Tips on forming stockbroker partnerships

Tips on forming stockbroker partnerships

Posted by on Jun 6, 2012 in Marc's Blog

My friend, Joel Beck, writes his own blog. I read it and commend the three people who read mine to read his as well. Joel’s most recent posting dealt with run-of-the-mill business organizations. Since a large part of our business […]

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New Morgan Stanley hires ignore Recruiting Protocol

New Morgan Stanley hires ignore Recruiting Protocol

Posted by on Apr 30, 2012 in Marc's Blog

You have to be living under a rock to not know about the Protocol for Broker Recruiting. This was an agreement entered into between UBS, Merrill Lynch and Citigroup/Smith Barney/Shearson Lehman Brothers (whatever they wanted to be called then) that […]

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FINRA proposes new expungement rules for U-4 and U-5 filings

FINRA proposes new expungement rules for U-4 and U-5 filings

Posted by on Apr 10, 2012 in Marc's Blog

FINRA has proposed rule amendments to the customer and industry arbitration codes. These amendments would codify procedures to allow registered representatives who are not named in arbitrations to receive an expungement order from the panel. The current procedure is a […]

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