Commentary, news and links of interest to financial advisers.

Brokers News

First Union Securities Renamed Wachovia Securities

Name Change Effective May 2002 By Rick Weinberg First Union Securities will announce Wednesday that it has been renamed Wachovia Securities, Registered Rep. magazine has learned. The name change is effective May 2002. First Union is the retail brokerage arm of Wachovia Corporation, along with IJL Wachovia. The firm, the […]


Disclosure Issue Would Snag Brokers

New NASD Proposal will require more disclosures by retail brokers. The war on analysts is now threatening brokers. In proposing heightened disclosures from analysts, the NASDR has included retail brokers as well. The July proposal, NASD Notice to Members 01-45, broadens disclosure obligations for public appearances by analysts and brokers […]

Arbitration Brokers Case Law Compliance

Attempt to Void Settlement

Arbitration Panel Orders Return of Settlement Payment, and Awards Nothing. WEINBERG v. BEAR STEARNS & CO., INC., NYSE ID #2000-008216 (Los Angeles, 10/18/00): Recently confirmed, this Award presents an unusual outcome in a “two-bites-of-the-apple” scenario. According to the “Case Summary” section of the Award, Israel and Molly Weinberg entered into […]

Brokers Compliance

Broker and Supervisor Liable for Customer Conduct

Failing to Stop Wash Sales and Matched Orders Leads to Disciplinary Proceedings By John M. Baker, Esq. The U.S. Court of Appeals for the D.C. Circuit on Friday affirmed an SEC</div><div class=glossaryItemBody>The United States Securities and Exchange Commission is the federal agency charged with the regulation and oversight of the securities markets, public companies and securities professionals.(…)</div>” href=”” data-gt-translate-attributes='[{“attribute”:”data-cmtooltip”, “format”:”html”}]’>SEC order finding a registered representative and her supervisor responsible for a customer’s improper trades. Graham v. SEC, No. 99- […]