Forty-three year industry veteran said the firm violated California law by permanently reassigning clients to a younger broker and failing to honor his employment contract.
Benjamin Joel agrees with his former firm to a court order restraining him from soliciting former clients to his new practice at RBC, though immediate family members and customers who already signed ACATS forms are excluded, in conformance with Finra rules.
Asset managers can add rising regulatory and technology costs to their list of woes as they struggle to expand revenue amid pressure to lower fees and expenses.
Registered investment advisers must provide clients and prospects with a one-page, standalone table of fees and services.
Former Morgan Stanley deal maker Bernard Mourad won bonuses worth more than 1.4 million euros ($1.6 million) after a Paris court ruled that the American bank improperly withheld deferred pay when he quit in 2015 to join up with telecoms mogul Patrick Drahi.
Atlanta-based Bruce D. Smith creates Sports Advisory Group after his wirehouse “Sports Consulting Group” practice dissolves.
Democratic presidential hopeful Bernie Sanders will propose canceling the nation’s outstanding $1.6 trillion of student debt and offsetting the cost with a tax on Wall Street transactions.
There is much to be said for the fiduciary standard of care for investors, meaning that those in the business of selling investment advice and services put the interests of their customers first.
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