Economic Calandar for 02/23/2009
February 23, 2009 by Magnifico · Leave a Comment
8:30 Chicago Fed National Activity Index
10:30 Dallas Fed Manufacturing Survey
12:40 PM Fed’s Lockhart speaks on U.S. economy
6:00 PM Fed’s Fisher speaks on the financial crisis
Schemes, Scams, Fraud….you name it, its out there!
February 20, 2009 by Francisco · Leave a Comment
It’s certainly true….the scams don’t seem to go away and what were once reputable names in the industry are now potentially Movie deals down the road.
How did it get away from regulators?
www.npr.org/templates/story/story.php?storyId=100859220
Broker-dealers at a crossroad
February 20, 2009 by MoneyElement · Leave a Comment
Every year many advisors renegotiate their contracts to determine if they will remain with their current firms. This year more than ever advisors are on the move. Deciding factor in many cases is the payouts. As they become more and more competitive, advisors expectations increase and broker dealers are pushed to survive at lower margins. [...]
Incoming!!!
February 20, 2009 by Magnifico · Leave a Comment
It was reported yesterday that Charles Schwab – the biggest US online brokerage – is in deep talks to offer its services to new investment advisors who manage more then $45 billion in clients’ assets. Company is reported to be also in preliminary talks with another group of investment advisors who manage more then $140 [...]
BofA On Watch
February 20, 2009 by Magnifico · Leave a Comment
With rumors flying left and right that BofA and Citi are heading to nationalization, shares of these two companies are hitting lows in the premarket yet again. Interestingly enough, Lewis told Bank of America executives at senior leadership meeting yesterday that Washington policy officials have assured him that nationalization of the largest U.S. bank [...]
Economic Calandar for 02/20/2009
February 20, 2009 by Magnifico · Leave a Comment
8:30 Consumer Price Index
Poor Supervision – FINRA Fines Wachovia Units
February 19, 2009 by MoneyElement · Leave a Comment
Last week Wachovia Units were fined over $4.41 Million for failure to provide investors with sales charge discounts in UIT transactions. The firm failed to ensure that the investors receive NAV credits for mutual fund purchases.
“FINRA states that Wachovia Securities did not provide rollover discounts to over 15,000 customer purchases of UITs, no break point [...]
Upcoming Events
February 19, 2009 by MoneyElement · Leave a Comment
Few events to put on our calendars:
Private Equity International Tax & Fund Administration Forum
February 23-24
New York, New York
800-280-8440
www.frallc.com
FINRA Fixed Income Conference
March 5
The Westin New York at Times Square
New York, New York
212-858-4119
www.finra.org
FINRA Small Firm Conference
April 7
The Westin New York at Times Square
New York, New York
212-858-4119
www.finra.org
FINRA 2009 Annual Conference
May 6-8
The Westin [...]
Refund Anticipation Loans: Ripoff Or Royal Screwjob?
February 19, 2009 by John · Leave a Comment
“When clients try to get a refund anticipation loan how do you advise them? Is this a cost effective Idea? Do you break down the numbers about how much they save for having patience.? Just a thought.”
Two weeks – that’s what you get for your money when you agree to sign on for a tax [...]
Robert W Baird Fined – Big Time
February 19, 2009 by Magnifico · Leave a Comment
FINRA Fines Robert W. Baird & Co. $500,000 for Fee-Based Account, Breakpoint Violations
Firm to Return More Than $434,000 in Fees, Plus Interest, To Customers
Washington, DC. — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Robert W. Baird & Co. $500,000 for supervisory violations relating to its fee-based brokerage business. FINRA also [...]
