FINRA to Mull Broker Compensation Disclosure Rule
December Board meeting will consider several rule proposals and amendments, chief among them a proposal that would require broker-dealers to disclose compensation packages to customers.
The Bonus Debate
Much as I believe that investors everywhere would benefit from a level playing field between RIAs and brokers, the disclosure of recruiting bonuses would be over the top.
Should Brokers Be Forced to Disclose Their Bonuses to Clients?
SEC Chairwoman Mary Schapiro in 2009 wrote a letter to broker-dealer CEOs warning them about recruiting brokers with high upfront bonuses.
Avoiding Breakaway Protocol Missteps
A team of Merrill Lynch advisors who left for Morgan Stanley in April were caught trying to remove boxes containing confidential customer information, becoming a cautionary tale for brokers tempted to break protocol.
Can Brokers Get Justice From FINRA?
Where does an advisor go to get his reputation back? That is the heart of a complaint of a former broker suing FINRA to expunge damaging allegations from his CRD that have kept him from the industry for two years.
7 Protocol Essentials for Breakaway Brokers
Securities attorney Patrick Burns says following breakaway protocol is necessary not only to a broker's relationship with his old firm, but with his new one as well.
FINRA Fines Merrill $1M Over Retention Bonus Disputes
The disagreements involved about 90 advisors out of the 5,000-plus that received $2.68 billion in retention-bonus payments after BofA bought Merrill Lynch in early 2009.
UBS Sees Leaders Exit, Expects Profit
UBS said in early October that the co-heads of its global-equities unit resigned in response to the unauthorized trading that caused a $2.3 billion loss at the bank in mid-September. A former Bank of America-Merrill Lynch executive is now the sole leader of the unit. These shifts come on the...
Morgan Keegan Court Victory May Actually Be ‘Enormous Defeat,’ Recruiter Says
A recent ruling by a judge overturning a $9.2 million award in Morgan Keegan’s favor isn’t likely to give parent company Regions Financial much upside as it looks to sell the brokerage firm, experts say.
Sale of UBS-Americas Would Be ‘Nuclear Option,’ Says Expert
UBS may need to consider spinning off its U.S. operations as a worst-case scenario, according to recruiters and others.