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Registered Rep.
November 1, 2005 |
Blotter Cooked Books... Direct Violation... Busted Market Timers...   |
Registered Rep.
April 27, 2011
Diana Britton |
Poll: Do Recruiters Promise Too Much? A former Raymond James advisor recently filed suit against the broker/dealer claiming an internal recruiter misrepresented the support, technology and compensation the firm could deliver. |
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.
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.
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.
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.
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.
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... |
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. |
Registered Rep.
January 18, 2006
John Churchill |
NASD Enforcer Departing for the Dark Side Barry Goldsmith, the NASD's executive vice president for enforcement, will be leaving the regulator in March for private practice at the Washington, D.C.-based law firm Gibson Dunn & Crutcher. |
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. |
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.
May 17, 2006
John Churchill |
Monster Arbitration Ruling Against Ameriprise Unit An NASD Arbitration panel awarded 32 retired Exxon employees a total of $22 million in damages for losses suffered when their broker put most of their savings in variable annuities and B-share mutual funds. |
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.
November 1, 2006
John Churchill |
Blotter SEC Busts Another Ponzi... Broker Bends for Hedgies... NASD Says Firm Ignored Red Flags... |
Registered Rep.
July 1, 2006
John Churchill |
Blotter SEC Tackles Wachovia Insider... Supervisory Meltdown... Market Timing Geeks... |
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.
March 1, 2007 |
Blotter SEC Front Running Probe... NASD Fines Bank of America... |
The Motley Fool
July 18, 2007
Selena Maranjian |
Check Out Your Broker Finding the perfect broker to whom you would entrust your hard-earned money is difficult. "BrokerCheck," a new online tool from NASD, makes it easier to weed out the unscrupulous ones. |
Registered Rep.
February 21, 2007
John Churchill |
Who's Watching the Watcher? No One, Apparently The NASD fined Raymond James Financial Services $2.75 million today for inadequate sales supervision of its producing branch managers. |
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.
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. |
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.
July 17, 2006
John Churchill |
Research Still a Problem, NASD Fines Three Firms Fines issued to Citigroup, Credit Suisse and Morgan Stanley are the result of the firms' failures to review and certify proper disclosure of price target valuation methods and risks, despite repeated warnings from NASD. |
Registered Rep.
June 1, 2004 |
10 Years Ago in Registered Rep NASD warnings, again. |
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.
January 12, 2006
John Churchill |
Schapiro in for Glauber at NASD 2007 The NASD Board of Governors announced today that Mary Schapiro, currently the self-regulator's head of Regulatory Policy and Oversight, will become the NASD's chairwoman when the term of its current chief ends in December 2006. |
Registered Rep.
November 4, 2004
David A. Gaffen |
Serenity Reigns in Boca Raton Perhaps it was the recent victory of President Bush that heartened this business friendly crowd, or the tranquil Boca Raton setting, but the annual Securities Industry Association conference exudes an oddly serene tone. |
Registered Rep.
October 26, 2004
David A. Gaffen |
Citi Fined by NASD for Hedge Fund Marketing Citigroup was censured and fined, but neither admitted nor denied the charges. A company spokeswoman said the firm "took immediate action in cooperating fully with the NASD to make sure all materials comply with current NASD guidance." |
Registered Rep.
March 1, 2005 |
Blotter Regulate Thyself, NASD... Class is in Session... He Looked Bigger on TV... |
Registered Rep.
February 13, 2012
Jerry Gleeson |
Raymond James Ramping Up Its RIA with New Leadership, Investment The new president, Bill Van Law, said the company plans to make a significant investment in the business in the months ahead. |
Investment Advisor
June 2007
Kara P. Stapleton |
News & Products NASD has fined two Fidelity broker/dealers for preparing and distributing misleading sales literature... The broker/dealers of ING plan to lower fees that their advisors pay on two core advisory programs... etc. |
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.
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. |
Registered Rep.
May 1, 2012
Diana Britton |
Comings & Goings: May 2012 Raymond James named Erik Fruland as chief operating officer... M. Kitces has been named a partner at Pinnacle Advisory Group... Matt Lynch has landed at Tiburon Strategic Advisors... |
Wall Street & Technology
March 2, 2004
Jessica Pallay |
Give Me a Break Breakpoints may give investors a break, but Wall Street's CIOs are working overtime to comply with regulators' wishes. |
Registered Rep.
September 14, 2006
Halah Touryalai |
NASD Fines Securities America for Failure to Supervise Securities America was fined $2.5 million for failing to supervise an advisor who allegedly lured clients into early retirement with exaggerated promises of high returns. |
Registered Rep.
February 1, 2006
John Churchill |
Size-ism? Ten years after the formation of the Small Firms Advisory Board, many small firms say they are still getting pushed around by bigger firms -- and this time the NASD is taking the side of the bullies. |
Registered Rep.
April 24, 2009
Halah Touryalai |
Raymond James Takes a 2Q Hit -- But Gains Retail Advisors Raymond James Financial posted dismal overall earnings for the second quarter, but its private client group appears to be a bright spot. |
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.
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. |
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.
January 1, 2005
David A. Gaffen |
Third Time Is a Harm A NASD proposal first announced in 2003 requires that reps with three or more formal complaints against them receive extra supervision from their firms. Most major broker/dealers are already operating as if the rule were in place. |
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.
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? |
Investment Advisor
November 2005
Melanie Waddell |
The Playing Field: Round Two of Market Timing The SEC designed Rule 22c-2 to help mutual fund companies deal with market timing, but is it working? |
Registered Rep.
October 1, 2006
John Churchill |
Blotter In the Name of Love: An Ameriprise registered rep was accused of stealing money from clients to pay for travel abroad to look for a Russian bride... NASD Busts Slick Broker... |
Financial Advisor
August 2006
Tracey Longo |
Late Summer Recruiting While the recruiting party will get tougher some day for broker-dealers who cater to independent advisors and reps, for now they are enjoying their competitive advantage: They give brokers and advisors who want to own their own business the chance to do that. |
Registered Rep.
July 30, 2003
Will Leitch |
SIA Says "Me Too" on Sales Fee Investigations Amid the brewing investigations into mutual fund sales practices, the Securities Industry Association came out last week in support of the new Joint NASD/Industry Task Force. |
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. |
