When BP oil spill in the Gulf Coast first became news, the company’s shares started to drop. According to the Huffington Post, the unfolding crisis incited a mad dash on Wall Street, with dozens of securities analysts encouraging investors to “buy, buy, buy” BP (BP.L: Quote, Profile, Research, Stock Buzz)…
According to InvestmentNews, LPL Investment Holding Inc’s recent IPO registration is clear evidence that the 4 wirehouse brokerage firms still dwarf the approximately 1,200 independent contractor broker-dealers when it comes to controlling client assets. LPL is an independent broker-dealer. Currently, there are approximately 114,000 independent reps and about 55,000 wirehouse…
According to InvestmentNews, negotiators in the Senate and the House have reached an impasse regarding the fiduciary standard provision found in the financial regulatory reform bill. While the House wants the US Securities and Exchange Commission to impose a universal standard of care that would be applicable to anyone offering…
The Wall Street Journal reports that as Solicitor General of the United States, US Supreme Court nominee Elana Kagan has sided with investor interests in two high profile lawsuits. In one securities fraud complaint that looked at when shareholders can sue mutual–fund mangers that had allegedly charged fees that were…
Below you will find Investment News‘ list of the average assets under management per rep at the biggest independent broker-dealers. The information was compiled from data that came from the investment firms that took part in a yearly survey. Ranked in the Top 10 were: 1. Wells Fargo Advisors Financial…
The Restoring American Financial Stability Act, a bill on financial reform, is expected to go to the Senate floor for a vote in a few weeks. Introduced by Senate Banking Committee Chairman Chris Dodd, the bill cleared that panel during a party-line vote. The bill would set up safeguards against…
According to the Bloomberg National Poll, most of the people who were interviewed don’t like banks, Wall Street, and insurance companies. They also wish that the government would punish those responsible for the financial meltdown. 1,002 US adults took part in the March 2010 poll, which has a margin of…
According to Registered Rep magazine’s latest Broker Report Card, 98% of Edward Jones brokers say their securities firm is the best place to work. 78% of Merrill Lynch brokers ranked their investment firm as the number the one workplace. Findings were compiled from Internet surveys taken by 898 captive brokers…
The US House Financial Services Committee has voted to pass the Investor Protection Act, which is part of a package of bills focused on widening financial industry oversight and investor protection. The bill increases the US Security and Exchange Commission’s authority and doubles the agency’s funding, giving it another $1.115…
According to commercial insurance consulting firm Advisen, 169 securities lawsuits were filed during 2009’s third quarter-an 11% increase from the 152 complaints that were filed during the previous quarter. 249 securities lawsuits were filed in the 1st quarter. The most common kind of securities lawsuit filed this past quarter was…