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Registered Rep.
July 31, 2008
John Churchill
Massachusetts Says Merrill Defrauded ARS Clients Among the many claims against Merrill Lynch is that management censored otherwise gloomy fixed income research in order to move volatile inventory out of company inventory and into client portfolios. mark for My Articles similar articles
Registered Rep.
March 28, 2008
David A. Geracioti
More Trouble In Auction-Rate Securities Land The State of Massachusetts Secretary of State is investigating the sales practices of auction-rate securities, to learn how these securities are presented to individual clients in the state. mark for My Articles similar articles
Registered Rep.
August 7, 2008
John Churchill
Citi Settles With SEC and Cuomo Over ARS Failure The firm has agreed to buy back auction rate securities sold to institutional and retail investors nationwide who've been stuck with the illiquid investment vehicles since February 12, 2008. mark for My Articles similar articles
Financial Planning
August 1, 2008
Andrew Ackerman
In First, Mass. Sues UBS In the first state-level lawsuit against an investment firm over auction-rate securities, Massachusetts has filed securities fraud charges against UBS for selling retail investors auction-rate paper as "liquid, safe, money-market" instruments even though the defendants knew it was not. mark for My Articles similar articles
Registered Rep.
September 3, 2008
John Churchill
Brokers Charged In Fraudulently Selling $1bn Of ARS To Retail Clients In the first case of its kind, the SEC announced today that it has charged two individual financial advisors with fraud related to the sale of more than $1 billion in auction-rate securities. mark for My Articles similar articles
Registered Rep.
August 6, 2010
John Aidan Byrne
UBS Advisors Welcome Mortgage Rollout Financial advisors at UBS Wealth Management Americas closely watched this week as the U.S. brokerage rolled out plans to sell more of its own mortgage and lending products through its retail brokerage force. mark for My Articles similar articles
Registered Rep.
September 10, 2008
Bank of America to Buy Its ARs Back The nation's second-largest bank by assets settled an investigation by Massachusetts regulators, agreeing to buy back $4.5 billion worth of the securities. mark for My Articles similar articles
Registered Rep.
December 11, 2008
SEC Finalizes $30 Billion ARS Settlement With Citi And UBS The $30 billion settlement is the largest in SEC history and restores liquidity to ARS investors at par value of their holdings. mark for My Articles similar articles
Registered Rep.
July 20, 2009
David A. Geracioti
The Auction Rate Securities Mess Still Lives This time it was TD Ameritrade, without admitting or denying guilt, who settled with the SEC "for making inaccurate statements when selling auction rate securities (ARS) to customers." mark for My Articles similar articles
Registered Rep.
November 8, 2011
Jerry Gleeson
Auction Rate Revenge For tens of thousands of investors who were trapped in the auction rate securities debacle that started in 2008, finances are getting back to normal. mark for My Articles similar articles
Registered Rep.
August 26, 2009
David A. Geracioti
Is McCann Close to a Deal with UBS? Bloomberg is reporting that Bob McCann, the former head of Merrill Lynch's brokerage unit, is nearing a deal with his old employer that will allow him to take a job running UBS's wealth management unit. mark for My Articles similar articles
Registered Rep.
January 20, 2004
David A. Gaffen
UBS Adds HNW Reps in San Fran, Atlanta UBS Securities, which has been one of the most aggressive recruiters of the last year or so in the retail brokerage business, continued its hiring efforts, recently bringing on two large producers from Goldman Sachs. mark for My Articles similar articles
Registered Rep.
October 21, 2002
Accused Rogue Broker Puts UBS PaineWebber Under Scrutiny How did a broker get away with his alleged thieving? The Massachusetts Securities Division is investigating UBS PaineWebber's supervisory and compliance procedures in connection with allegations of a broker stealing more than $4 million from clients, according to the state's Securities Division. mark for My Articles similar articles
Registered Rep.
March 15, 2010
John Aidan Byrne
McCann Is the Man at UBS; Name Change to PaineWebber? The much-anticipated revival plan for UBS Wealth Management Americas will cap off a series of recent organizational changes garnering support from an important constituency: advisors at the beleaguered brokerage. mark for My Articles similar articles
Registered Rep.
September 15, 2008
Kristen French
Merrill Lynch Sells Itself To Bank of America: Update 3 The biggest question, now that BofA has agreed to buy Merrill Lynch, is what Bank of America will do to hold onto Merrill Lynch's dearest asset -- its approximately 17,000 financial advisors. mark for My Articles similar articles
Registered Rep.
June 3, 2009
David Geracioti
ARS Games -- SEC Blames Firms, Settles with BAC, RBC and DEUTSCHE When the auction rate securities market froze up in February 2008, angry clients blamed their financial advisors. mark for My Articles similar articles
Registered Rep.
June 29, 2011
Kristen French
Raymond James Hit With $300 million ARS Settlement; Pay Back For All ARS Clients The company has agreed to a multi-state settlement that will require the firm to buy back $300 million in auction rate securities it sold to clients prior to the collapse of the ARS market in February of 2008. mark for My Articles similar articles
Registered Rep.
October 8, 2008
Bank of America Reaches Second Settlement To Buy Back ARS The agreement closely mirrors the firm's earlier settlement with the Massachusetts Securities Division that was announced in September, 2008. mark for My Articles similar articles
The Motley Fool
March 7, 2008
Dan Caplinger
Auction-Rate Anxiety The credit crisis hits leveraged mutual fund shareholders. mark for My Articles similar articles
CFO
July 15, 2009
Vincent Ryan
Buyer's Remorse Treasury departments are still paying a price for auction-rate securities. mark for My Articles similar articles
Registered Rep.
June 9, 2008
Credit Downgrades, More Write-Downs And The ARS Market Credit downgrades to MBIA and AMBAC Financial Group, the world's largest bond insurers, will lead to more write-downs at Citigroup, Merrill Lynch and UBS, according to a new research report. mark for My Articles similar articles
Registered Rep.
October 8, 2009
UBS Hires Bob McCann UBS has hired former Merrill Lynch executive Bob McCann to run its wealth management division in the Americas. mark for My Articles similar articles
Registered Rep.
October 27, 2009
John Aidan Byrne
McCann Vows to Return UBS Wealth Management To Profitability New CEO Robert J. McCann says the wealth management division of UBS will not be put on the block. mark for My Articles similar articles
The Motley Fool
July 2, 2008
Tom Hutchinson
UBS Purges Board Heads roll as UBS faces a myriad of financial and legal problems. mark for My Articles similar articles
The Motley Fool
August 12, 2008
Morgan Housel
Auction Rate Ugliness Returns Quit blaming others when your portfolio explodes. mark for My Articles similar articles
Registered Rep.
March 3, 2006
Halah Tourylai
Third Wirehouse Coughs Up Millions In Overtime Cases Yesterday, Morgan Stanley became the third wirehouse, after Merrill Lynch and UBS, to settle class action suits with California brokers over overtime pay in the past seven months -- the second in three weeks. mark for My Articles similar articles
Registered Rep.
September 17, 2008
John Churchill
Morgan Stanley Earnings Up, Stock Down; Wealth Management Unit Raking In Assets And Advisors Morgan Stanley, perhaps in an effort to quell investor fears that it was on similarly shaky ground as Lehman Brothers, pre-announced its third-quarter earnings yesterday, surprising analysts with census beating results. mark for My Articles similar articles
The Motley Fool
August 13, 2008
Alex Dumortier
Is UBS Calling the End of Universal Banks? UBS is reversing its "one bank" strategy by giving increased autonomy to its three businesses: Investment Banking, Wealth Management, and Asset Management. mark for My Articles similar articles
Registered Rep.
March 1, 2003
Glenn S. Curtis
War, What Is It Good For? War, or rather the prelude to war, has been, historically, bad for the stock market. One group of stocks harder hit than most during these saber-rattling times is the brokerage sector. mark for My Articles similar articles
Investment Advisor
April 2010
B/D News Licensing for insurers and brokers... scamming Madoff victims... NASAA's settlement with UBS... mark for My Articles similar articles
Registered Rep.
February 7, 2012
John Aidan Byrne
UBS' U.S. Brokerage Boosts Profits, Boasts Most Productive Advisors Despite global market conditions that lowered asset-based fees and transaction-based income, UBS Wealth Management Americas ended 2011 on firmer footing, earning $573 million for the year on revenues of $5.96 billion. mark for My Articles similar articles
Registered Rep.
May 1, 2006
John Churchill
UBS Bellies Up to the Acquisition Table With the cost of recruiting and training soaring, firms continue to turn to acquisitions. The recent purchase by UBS of Piper Jaffray's brokerage unit won't be the last as competition for clients and their assets continues to intensify. mark for My Articles similar articles
The Motley Fool
July 29, 2008
Morgan Housel
Mother Merrill Blows Her Top Merrill Lynch decides to dump more than $30 billion in mortgage-related assets in a move to rid itself of as many sickly holdings as possible. mark for My Articles similar articles
Registered Rep.
October 1, 2009
John Aidan Byrne
Former ML Chief Free to Take Job Robert J. McCann is free to take the reins at a major Merrill rival now that he settled a lawsuit today with Bank of America. mark for My Articles similar articles
Registered Rep.
November 1, 2002
Rick Weinberg
All in the Family Cases of brokers stealing from their clients are not unheard of. But, according to the Massachusetts Securities Division, a UBS PaineWebber broker gave the old crime of embezzlement a new twist. mark for My Articles similar articles
Registered Rep.
June 1, 2008
The Real Rainmakers In total, about 50,000 securities industry employees in the United States lost their jobs this year. But not retail financial advisors; the wealth management units, by comparison, are doing very well. mark for My Articles similar articles
Registered Rep.
May 1, 2005
Will Leitch
So They've Got That Going for Them...Which Is Nice For all the problems it's been having in the last several months, Morgan Stanley can hang its hat on this good news: It is now the largest securities firm in the country. mark for My Articles similar articles
Registered Rep.
October 1, 2005
Christopher O'Leary
It's in the Bank Wirehouse veterans who have switched to bank brokerages say Wall Street's perception of bank brokerages is stuck in the past, and that the best bank brokerages have become much more competitive in terms of production, assets and compensation. mark for My Articles similar articles
Financial Advisor
November 2009
Raymond Fazzi
Tales Of Breakaway Brokers Fridays on Wall Street not only signal the end of the workweek. For many breakaway brokers, the day marks the end of their wirehouse careers. mark for My Articles similar articles
The Motley Fool
November 1, 2007
Matt Koppenheffer
UBS Strikes Up a Familiar Band Overall, UBS finished the quarter with a loss of $624 million, due in great part to the $3.6 billion in losses it reported in its fixed income currencies and commodities trading business. mark for My Articles similar articles
The Motley Fool
June 30, 2008
Alex Dumortier
Merrill Apes Goldman ... Again Merrill Lynch will create a senior executive role responsible for all European businesses in a move that mimics Goldman Sachs' hierarchy. mark for My Articles similar articles
Financial Advisor
March 2012
UBS Reeling In Merrill Advisors The big four wirehouse firms are always trying to poach top talent from their rivals, but UBS Wealth Management seems to be doing a particularly job good job of late when it comes to snagging advisor teams from Bank of America/Merrill Lynch. mark for My Articles similar articles
Registered Rep.
July 28, 2010
John Aidan Byrne
UBS Brokerage Unit Turning the Corner? The "turning point" in client fund outflows is about to appear for UBS Wealth Management Americas. mark for My Articles similar articles
Registered Rep.
May 31, 2013
Megan Leonhardt
Sizing Up the Street In the latest earnings cycle, here's how the wirehouses stacked up. mark for My Articles similar articles
Registered Rep.
February 13, 2006
Kristen French
Merrill, BlackRock Deal Near Merrill Lynch is close to doing what Morgan Stanley could not: acquire a large stake in BlackRock, the stellar bond funds house, in a deal that would create a $1 trillion money manager. mark for My Articles similar articles
Registered Rep.
May 4, 2010
John Aidan Byrne
UBS Client Asset Outflows Slow in Q1 Improving market conditions softened the blow as total client assets hit $721.6 billion in the brokerage unit of the Swiss banking giant. mark for My Articles similar articles
Registered Rep.
March 1, 2008
Wall Street Competes For Transgender Talent Major wirehouse firms all offer special benefits to employees who want to undergo sex-change surgery. mark for My Articles similar articles
Registered Rep.
February 1, 2005
Leitch & Churchill
Personal Help For Tsunami Victims A UBS adviser took 10 days leave to volunteer in Southeast Asia after the devastating tsunami... Citigroup announced a $3 million contribution... Merrill Lynch pledged $1 million... etc. mark for My Articles similar articles
The Motley Fool
November 14, 2006
Selena Maranjian
How Steep Are Some Brokerage Fees? Investors, make sure you do your homework before you choose a broker. mark for My Articles similar articles
Registered Rep.
February 11, 2008
John Churchill
Retail Financial Advisors' Refrain: Let's Kill The Traders Brokers are bitter these days -- and for good reason. Much of their vitriol is aimed at the traders. mark for My Articles similar articles