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Financial industry groups oppose adding exam scores to BrokerCheck
Both SIFMA and FSI cautious about Finra proposal to strengthen its database.
Finra sees uptick in arbitration cases filed in first quarter
The number of arbitration cases brought before Finra was up 10% in the first quarter over a year ago and the proportion of cases resulting in damages being awarded was also up. At least one factor has emerged as the main culprit.
Brokerage industry sounds off about Finra broker compensation proposal
Comment letters show independent B-Ds want no part of it, while wirehouses are all for it.
Quantity does not equal quality: Expanding 'disclosure events' on BrokerCheck a bad idea
Brokerage industry is only one in which professionals as deemed guilty until proven innocent.
Head count falls but fee revenue boosts Merrill Lynch in 1Q
Asset management fees hit a record $1.5 billion, up 21% from the first quarter last year; assets on Merrill One surge.
Finra gets arbitration process back on track in Puerto Rico
After several months of deliberations, Finra has expanded its pool of arbitrators and is ready to move forward with the hundreds of complaints related to collapses in Puerto Rico bond funds. That doesn't necessarily mean smooth sailing.
Wells Fargo eyes acquisitions as profits rise
Coming off a 41% rise in quarterly profits in its wealth unit, Wells Fargo could be interested in an acquisition. Mason Braswell reports.
Merrill Lynch's Thiel: Fee transparency key to restoring trust
If the industry hopes to build trust, clients have to understand what they're paying, executive tells crowd at conference in New York.
Billion-dollar teams inch into indie market
With improvements in technology and compensation models, independent firms are narrowing the gap in the competition for the biggest talent on Wall Street.
Morgan Stanley Wealth Management shuffles field leadership
Shortly after taking over as head of field management at Morgan Stanley Wealth Management, Shelley O'Connor announced Tuesday that she is restructuring the firm's divisions and regions. Mason Braswell has the story.
Ex-UBS broker awarded $5.4 million in case over Lehman notes
A Finra arbitration panel has ordered UBS Wealth Management Americas to pay one of its former brokers $5.4 million for representing structured products from Lehman Brothers as being suitable for clients even as Lehman began to falter.
Brokers face challenges in originating mortgages
More financial advisers are becoming licensed mortgage loan originators as full-service brokerage firms look to be one-stop shops for wealthy investors, but some regulatory gray areas are causing concern.
UBS, Merrill push to keep bond fund hearings in Puerto Rico
In confidential meeting, firms' attorneys oppose allowing arbitration cases to be heard in Southeast venues.
Morgan Stanley CFO calls too few women leading U.S. companies an 'embarrassment'
Morgan Stanley chief financial officer Ruth Porat called the low number of women running U.S. companies an “embarrassment” that shows the need for new laws.
Account opening is No. 1 tech concern: Survey
Beacon finds 'client onboarding' has replaced social-media archiving as brokers' biggest technology challenge.
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February 27, 2014