News
Nickel-and-dime Trading Violations Yield Big Fine for Small Firm
BAC Florida Investments, which has 23 registered reps, agrees to $100,000 fine for overcharging a registered investment advisor’s customers in fixed-income pricing fraud.
Morgan Stanley Seeks TRO Against Team that Jumped to Stifel in Illinois
Filing revives an aggressive legal stance the firm had taken after its withdrawal from the Protocol for Broker Recruiting.
SunTrust Expands in Los Angeles with Private Banker from Wells
Advisor is taking on a new “market president” role helping the company boost its wealth and investment banking business in the state.
J.P. Morgan Hires Away Lifetime UBS Manager in San Francisco
Stephen McCashin, who ran UBS’s private wealth complex in San Francisco, will join the former Bear Stearns business unit in November after a ‘garden leave.’
Managers on the Move: RayJay Gets 40-Year Vet in Houston, Morgan Stanley Fills NYC Seat
Charlie Eldemire leaves RBC in Houston to run his hometown Dallas RayJay branch, while Cathy Galgano shifts from Chicago suburb to run MS complex on Park Avenue.
Another FINRA Arbitration Loser Sues to ‘Vacate’ Award
Hartford advisor says two of three arbitrators who ordered him to pay UBS $166,000 violated Finra’s personal disclosure rules, hindering his case.
Wall Street Salaries Reach Average $422,500, Highest in a Decade
The average Wall Street salary rose 13 percent last year to its highest level since 2008, when Lehman Brothers Holdings Inc. collapsed.
Rockefeller Recruits HighTower Team, and Other Top Stories
Most-read articles from September 10 through 15.
Brokers Who Fired First at Morgan Stanley Settle Claims
San Diego brokers took the unusual step of seeking a court ruling voiding their employment contracts to preempt their former firm from stopping them from soliciting clients.
Judge Denies Ameriprise’s Bid to Escape $675K Arb Award to Broker
Decision in Massachusetts court underscores the difficulty of vacating arbitration awards.
Merrill’s Sieg Sees Broker Growth Goals Beyond Five New Households
With achievers bringing in 15 new clients, average advisors should be able to grow beyond the 4.6 they’re on track to achieve this year, executive says.