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Registered Rep.
May 31, 2007
Kevin Burke |
Wachovia Buys A.G. Edwards for $6.8 Billion, Creating New Rival to Merrill, Smith Barney The deal puts Wachovia among the top three competitors in retail brokerage -- in terms of both assets and advisors -- and retail banking.   |
Registered Rep.
June 28, 2007
Christina Mucciolo |
Wachovia Securities to Make New Home in St. Louis Federal Antitrust regulators approved Wachovia Corp.'s acquisition of A.G. Edwards. The deal is expected to close in the fourth quarter, most likely in October. |
Registered Rep.
September 29, 2008 |
Wachovia, The Bank, Saved by Citi; What Will Happen To Wachovia Securities? Firm Says The AGE Integration To Continue Unaffected Citigroup apparently thinks its got enough financial advisors: Citi declined to buy the retail brokerage business -- Wachovia Securities (and A.G. Edwards) -- and the asset management unit (Evergreen). |
Registered Rep.
July 30, 2007
Halah Touryalai |
FINRA Sticks as SEC Approves Regulator Consolidation After some minor bumps along the way, the NASD and NYSE merger is official. |
Registered Rep.
March 1, 2007
Kevin Burke |
The New SRO Plans for the NYSE/NASD regulatory consolidation are moving quickly toward an April 2 deadline. But executives question whether the proposed governance structure for the consolidated regulator could change the nature of regulation in the industry for the worse. |
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. |
Investment Advisor
January 2007
Kathleen M. McBride |
A New SRO's in Town The move to consolidate the NASD and the NYSE, and their corresponding and sometimes conflicting sets of rules into one unified SRO has picked up momentum and a number of endorsements while also sparking a certain amount of controversy. |
Registered Rep.
April 20, 2009
Christina Mucciolo |
A.G. Edwards Founder Passes Away at 77 Benjamin Edwards III, former chairman, CEO, and president A.G. Edwards, died Monday after a battle with cancer. |
Registered Rep.
May 18, 2009
John Churchill |
As Wells Fargo Takes Over, Integration at Wachovia and A.G. Edwards Still Faces Hurdles Some financial advisors at what is now the largest retail brokerage firm in the U.S. say the integration of the Wachovia and A.G. Edwards is still incomplete, and leaves much to be desired. |
Investment Advisor
March 2009
James J. Green |
Broker/Dealer Briefing: A Shot Over the Bow FINRA is quietly conducting a sweep of broker/dealers that could be the first steps to having the SRO take over regulation of registered investment advisors from the SEC -- something the former NASD has long desired. |
Registered Rep.
June 21, 2007
John Churchill |
New Name, New Agenda for NASD/NYSE Entity SIRA stands for Securities Industry Regulatory Authority, which will be the largest self-regulatory organization in the world. |
Registered Rep.
April 20, 2009
Christina Mucciolo |
Benjamin Edwards Passes Away at 77 Edwards, 77, was the great-grandson of the company's founder, Albert Gallatin Edwards, and led the former regional for 45 years before retiring in 2001 and assuming the title of chairman emeritus. |
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.
July 13, 2007
Susan Konig |
Post Acquisition, A.G. Edwards BOMs Have Tough Job to Do With the Wachovia purchase of A.G. Edwards, it's not just A.G. Edwards reps (some of whom fear that the AGE corporate culture will change) who are worried. So are acquired firm's branch managers. |
Financial Advisor
December 2006
Tracey Longo |
Women's Work To get constant feedback from women producers on what they need and want to work smarter, Raymond James formed a 12-member Women's Advisory Council that assists the firm in building out its programs and resources for women. |
The Motley Fool
September 21, 2007
Lawrence A. Rothman |
Good Deal, Wachovia! Strong quarterly results from A.G. Edwards reaffirm the wisdom of Wachovia's pending purchase. Investors, take note. |
Registered Rep.
July 13, 2007
John Churchill |
Drink Pepsi, Raise The Dead SIRA may soon be FINRA. The newly formed Securities Industry Regulatory Authority is searching for a new name after learning that the old one had more than one meaning. |
Registered Rep.
June 8, 2007
Christina Mucciolo |
Wachovia Accelerates Hiring in Private Bank Under plans to expand its private banking presence, Wachovia Securities said it would hire about 300 private bankers over the next three years, more than doubling its number of private banking relationship managers. |
Registered Rep.
July 28, 2008
Kristen French |
Wachovia Could Sell Retail Brokerage: Analysts Analysts point to a record $8.9 billion quarterly loss in the second quarter, but Wachovia says the brokerage isn't for sale. |
Investment Advisor
June 2006 |
B/d Briefing: News & Products At the Fidelity Executive Forum in late April, Fidelity Brokerage Company's National Financial (NF) clearing firm unit demonstrated a number of new services... For the first time in the history of the NASD, a father/son duo has been elected to the NASD board... etc. |
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.
July 18, 2007
Halah Touryalai |
Can't We All Just Get Along? FPA says FINRA Won't Do for NYSE/NASD It's back to the drawing board, again, for the National Association of Security Dealers. Its new name choice, FINRA, has been called too broad by the Financial Planning Association. |
Investment Advisor
July 2007
Kara P. Stapleton |
News & Products Wachovia announced that it will acquire A. G. Edwards and fold it into Wachovia Securities... Prudential Financial is closing Prudential Equity Group, suspending the group's institutional equity research coverage and discontinuing the equity group's trading and sales arms in 13 cities... etc. |
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.
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. |
On Wall Street
February 1, 2010
Lee Conrad |
Wells Fargo: On the Front Lines of the Culture Wars One of Wells Fargo's task after acquiring Wachovia Securities is integrating advisors from both companies into one sales force and keeping them satisfied. |
Financial Advisor
June 2004
Tracey Longo |
Compliance Overload A white-hot regulatory agenda is bedeviling independent broker-dealers in the U.S. |
Financial Planning
June 1, 2007
Marshall Eckblad |
4 Questions Mary Schapiro is chairman and CEO of the NASD, which is set to merge later this year with the New York Stock Exchange. Here, she spoke about the new organization that she has been appointed to lead. |
Registered Rep.
April 28, 2005
Kristen French |
Raymond James Fined, Plans to Drop Fee-Based Brokerage As part of the sanctions imposed by the NASD, if Raymond James doesn't discontinue its fee-based brokerage business, the firm will have to retain an independent consultant to oversee the creation of a supervisory system for the fee-based brokerage business. |
Registered Rep.
August 21, 2006
Kristen French |
NYSE and NASD Hold Merger Talks It is not yet clear whether a deal will actually go through, or whether the financial regulators would merge their arbitration systems or keep them separate. |
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.
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.
January 22, 2007
John Churchill |
Votes In, NASD and NYSE Merger Likely; Will Dissenters Challenge? The securities industry won't have dual self-regulatory organizations to complain about anymore. The NASD announced over the weekend that member firms overwhelmingly approved to consolidate the NASD and the NYSE into one. |
On Wall Street
August 1, 2009
Mark Astarita |
Changes at the SEC: Schapiro Should Be Benefit to Advisors One can expect that as head of the SEC Mary Schapiro will understand the impact of new rule proposals and enforcement initiatives and will temper the calls for more extreme changes that would ultimately harm the markets and the financial industry. |
Investment Advisor
June 2007
Kathleen M. McBride |
Interesting Times Independent broker/dealers find opportunity in the face of changing winds. |
Registered Rep.
November 29, 2006
Kevin Burke |
Small Firms Move to Block NYSE/NASD SRO Merger Not everybody is cheering the formation of a single self-regulatory organization. An insurgency of small brokerage firms is urging their peers to strike down yesterday's announced merger between the regulatory arms of NYSE and NASD. |
Investment Advisor
February 2008 |
B/D News & Products The Financial Services Institute announce that its board of directors elected Brian Murphy, chairman of Woodbury Financial Services, as chair for 2008... There's a new rate for fees paid under Section 31 of the Exchange Act... etc. |
Registered Rep.
June 15, 2007
Kevin Burke |
Wachovia Extends Olive Branch to A.G. Edwards Reps. Will They Accept? Just 15 days after it announced it was buying A.G. Edwards, Wachovia Securities announced its retention package for A.G. Edwards reps. |
Financial Planning
February 1, 2007
Marshall Eckblad |
5 Questions A short interview with Margaret Sheehan, author of Practical Guide to NASD Regulation about the outlook for the NASD in 2007. |
Investment Advisor
March 2007
Kathleen M. McBride |
An Independent Voice The Financial Services Institute kicked off its annual conference at Disney World with the group's new chair, John Simmers, CEO of ING Advisors Network, introducing an ambitious agenda for 2007. |
Registered Rep.
October 22, 2008 |
Wachovia Reports Record $24 Billion Loss, Brokerage Results Weak, But With Bright Spots The massive loss was due primarily to declining values in its retail and small business banking divisions. But the retail brokerage and wealth management units didn't fare so well either. |
Registered Rep.
July 22, 2010
Christina Mucciolo |
Raymond James Financial and Wells Fargo Retail Brokerage Units Hang In There A report on earnings from two major financial firms. |
Investment Advisor
February 2009
Melanie Waddell |
Is Mary What the SEC Needs? The alternative to FINRA overseeing advisors, and what advisors would definitely prefer, is a self-regulatory organization. |
Investment Advisor
May 2008
McBride & Waddell |
Seismic Shift The Treasury Secretary floats a regulatory plan that -- if implemented -- will change the financial services world as we know it. |
Financial Advisor
January 2005
Tracey Longo |
How Fee-Based Programs Led 2004 Brokerage Profits Fee-based profitability is not lost on brokerage executives, who are ramping up programs designed to attract more planners to a fee-based business model and away from traditional commissions. |
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? |
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. |
Investment Advisor
October 2007
Kara P. Stapleton |
News & Products, October 2007 FINRA fines AXA Advisors for "failing to adequately supervise its fee-based brokerage business"... AIG announces organizational changes... Commonwealth Financial Network provides advisors with Estate Planning Blueprint... etc. |
Investment Advisor
April 2007
Kara P. Stapleton |
News & Products Mary Schapiro, NASD Chairman and CEO, announced that the regulatory consolidation between NASD and NYSE Member Regulation is on track... Securities America, Inc. launched a new Assistant of the Year program... etc. |
Registered Rep.
July 1, 2006
John Churchill |
Blotter SEC Tackles Wachovia Insider... Supervisory Meltdown... Market Timing Geeks... |
