IRVINE, Calif. — NASD and the New York Stock Exchange this month released long-awaited guidance to brokerage firms on how to supervise electronic communications.
WASHINGTON — Disclosures of 12(b)-1 fees should be made clearer and easier to decipher, but the fees themselves should not be abolished, officials from the mutual fund and brokerage industries said at a Securities and Exchange Commission round table last week.
SAN FRANCISCO — The U.S. economy has some shaky elements, but Federal Reserve Board Chairman Ben S. Bernanke’s track record still is rock solid, according to financial advisers, chief economists and other executives in the investments industry.
CHICAGO — Data gathered by Boston-based research firm Cerulli Associates Inc. confirm what most observers have long suspected: Fidelity Investments is the nation’s individual-retirement-account powerhouse.
NEW YORK — Recent changes in management at independent-contractor broker-dealer National Planning Corp. and National Planning Holdings Inc., its broker-dealer network, have some of its affiliated advisers concerned, while others accept the changes as part of the business.
NEW YORK — After receiving suggestions from financial professionals, the Social Security Administration has designated a section of its website specifically for advisers.
OTTAWA — In a confusing compromise, federal Finance Minister Jim Flaherty and his peers from the provinces and territories agreed last Tuesday that the feds would set up a panel to study the creation of a single Canadian securities regulator.
Scott Brooks has jumped from Brookstreet to Wedbush Morgan and has asked Brookstreet's reps to join him.
The Online 401(k) announced today it is partnering with Expedition Payroll, which will allow the company to offer its clients more comprehensive payroll systems.
NASD has fined Wachovia $2 million for failing to adequately supervise its fee-based brokerage business.
Brookstreet Securities told its 500 or so affiliated reps and advisers that "disaster" had struck.
Lehman Brothers plans to raise $500 million for a fund that invests in private equity companies, according to published reports.
Morgan Stanley scored record levels of income and net revenues during the second quarter.
Compensating brokers for servicing mutual fund shareholders was anticipated by the SEC when it first adopted12(b)-1 fees in 1980.
Federal court trials have started for Gregory L. Reyes, former chief executive of Brocade Communications.
Bear Stearns’ investment bank may lend $1.5 billion to save one of the company's struggling hedge funds, according to a Wall Street Journal report.
WASHINGTON — Registered investment advisers are likely to outspend other financial intermediaries for compliance software, according to a recent report by Celent LLC, a Boston-based research and consulting firm.
Public-service spots starring “Savingsman” and his canine companion "401k-9" won three Emmy awards.
WASHINGTON — U.S. investors could face reduced protections if the Securities and Exchange Commission loosens restrictions to allow foreign brokerage firms to offer securities in the United States, according to some speakers last week at a daylong SEC public meeting on cross-border regulation.
In a bid to stand out among their peers and to be more competitive in the marketplace, an increasing number of small to midsize independent-contractor broker-dealers are offering sophisticated compensation plans, including stock ownership, to their affiliated registered representatives.
