IRVINE, Calif. — Critics of the industry arbitration system want the Financial Industry Regulatory Authority to require that “public” arbitrators have no ties to the industry. In a rule awaiting approval at the Securities and Exchange Commission, New York- and Washington-based FINRA has proposed limiting to $50,000 a year the amount of revenue a public arbitrator could receive from brokerage firms for handling customer disputes.
In the newly created position, Mr. Lee will be responsible for expanding the investment bank's business in Taiwan.
Regulators continue to leave independent- contractor broker-dealers in the lurch over the tricky issue of how brokers can use clients’ private information when moving accounts to a new firm.
Senate Finance Committee leaders are working on a plan to resurrect legislation to cap deferred compensation, which they could reintroduce next month as part of a bill that would extend popular education tax breaks.
Like LinkedIn’s 13 million other registered users, financial advisers are discovering that online networking can pay off.
The jolts that TD Ameritrade Holding Corp. experienced during 18 months of integration following the 2006 merger of TD Waterhouse Group Inc. and Ameritrade Holding Corp. have not dulled its appetite for more deals, according to chairman and chief executive Joe Moglia.
NEW YORK — After completing an overhaul of its top management late last year, Bear Stearns’ clearing and custody unit continues to hire new executives — some of whom are being recruited from top rivals.
Workers know they have to save for retirement, but they’re lost without financial planning, a study found.
Some financial advisers fear that a proposal backed by the Financial Planning Association that would allow brokers to make principal trades in their fee-based accounts would result in a new loophole that brokers can use to skirt investment adviser regulations.
Financial advisers sometimes outgrow relationships — including relationships with software.
NEW YORK — With assets increasing, the Raymond James Bank is beginning to have an effect on the results of parent company Raymond James Financial Inc.
After examining an aborted insider-trading investigation involving Pequot Capital Management Inc. and Morgan Stanley chief executive John Mack, Senate investigators have concluded that SEC enforcers are concerned about being undermined by their supervisors.
IRVINE, Calif. — State regulators are seeking reinforcements. In a speech this month at the annual meeting of the National Conference of State Legislatures, Joseph Borg, president of the North American Securities Administrators Association Inc., called for the NCSL to develop a more detailed policy statement opposing federal pre-emption of state securities laws.
Independent-contractor broker-dealers and their registered representatives face pressure on all fronts, from recruiting and proper practice management to compliance and the best way to build up their businesses.
