Staff Report

Displaying 28 results
NEWS REGULATION AND LEGISLATION JAN 31, 2010
Alleged scam artist jailed

A federal judge in Minnesota last week ordered Trevor G. Cook jailed for failing to surrender more than $35 million in assets.

NEWS REGULATION AND LEGISLATION JAN 05, 2010
Ex-broker at GunnAllen, Ameriprise sentenced to eight years in prison

A Southern New Jersey securities broker who operated a $1.8 million investment fraud scheme has been sentenced to more than eight years in prison.

NEWS INDUSTRY NEWS DEC 29, 2009
Morgan Stanley's money management biz finally lands its star exec

YOUR PRACTICE PRACTICE MANAGEMENT DEC 29, 2009
Broker-bishop pleads guilty to fraud in Ponzi scheme

A former stockbroker accused of running a $21 million Ponzi scheme from his suburban Denver home for 15 years has pleaded guilty to felony mail fraud.

NEWS INDUSTRY NEWS DEC 08, 2009
Former BofA exec Bodurtha lands in Citigroup private banking biz

The game of musical chairs at Citgroup and Bank of America goes on. Citi announced today that its private banking operation has hired Steve Bodurtha as head of investments for North America. Mr. Bodurtha will oversee the investments platform for Citi Private Bank across the U.S. and Canada.

NEWS INDUSTRY NEWS NOV 11, 2009
National Planning Corp. to pay $3.9M to Mass. investors

National Planning Corp., <a href=http://www.investmentnews.com/apps/pbcs.dll/section?category=datajoe&amp;djoPage=basicchart&amp;djoProjId=10815> one of the ten largest independent broker-dealers </a>, has reached a $3.9 million settlement with Massachusetts to reimburse a set of elderly investors in the state who lost money from investments that an NPC adviser allegedly described as safe.

NEWS INDUSTRY NEWS NOV 02, 2009
Broadridge to sell clearing business to Penson

Penson Worldwide has agreed to buy the clearing contracts of Broadridge Financial Solutions for $60-$70 million as part of a new partnership the two firms revealed Monday evening.

NEWS INDUSTRY NEWS OCT 29, 2009
ING replaces chief executive of $600B investment management biz

Gilbert Van Hassel has been named global CEO of the unit, while Jeff Becker will now be the CEO of ING Investment Management in the Americas

NEWS INDUSTRY NEWS OCT 15, 2009
Schwab's 3Q earnings drop 34%, but adviser business a bright spot

While The Charles Schwab Corp. reported a 34% drop in overall earnings for the third quarter, its adviser services business proved to be a bright spot.

NEWS RIAS OCT 15, 2009
Mass affluent leaving brokers, making indie advisers their top choice, Spectrem finds

After a year in which many investors lost substantial chunks of their wealth, mass affluent individuals are ditching their full-service brokers in favor of independent financial planners at a significant clip, according to a report released today.