The SEC has fined independent broker-dealer Woodbury Financial Services Inc. of Woodbury, Minn., $65,000 for a variety of violations of Regulation S-P, which prohibits disclosure of non-public personal information about clients to non-affiliated third parties, such as other broker-dealers.
Two recent legal victories by securities firms involving the sale of auction rate securities suggest that institutional investors could find it tough to prevail in similar battles.
In the wake of recent disastrous blowups of high-commission private placements, some broker-dealers are anxious about whether their advisers should sell the offerings.
The spiritual message of Bob Dylan's soulful ditty about fate and consequences, “Gotta Serve Somebody,” is taking on a more down-to-earth meaning this year.
The broker recruiting wars are heating up, with wirehouses jacking up their offers to new heights to lure more representatives in 2010.
A leading securities regulator for the lion's share of his career, Finra chairman and chief executive Richard Ketchum is poised to oversee one of the most significant day-to-day changes most registered representatives will ever experience.
The broker recruiting wars are heating up, with wirehouses jacking up their offers to new heights to lure more representatives in 2010.
Morgan Stanley Smith Barney LLC is entering into the recruiting wars with its guns blazing and is creating a potential pay package for new advisers that will match that of its rival Merrill Lynch & Co Inc.'s Global Wealth Management unit.
The two trustees of Medical Capital Holdings Inc.'s private placements, Wells Fargo & Co. and The Bank of New York Mellon Corp., have been sued by investors seeking class action status.
