WealthManagement Magazine

Raging Bull

A member of the New York Stock Exchange was arrested in late August for allegedly issuing a death threat to another seat holder who sued to block the Big Board's takeover of Archipelago Holdings. Edward Reiss, 65, a floor broker since 1973, surrendered to the New York Police Department on Aug. 29, and was charged with aggravated harassment because of a message he allegedly left in June on the voicemail

A member of the New York Stock Exchange was arrested in late August for allegedly issuing a death threat to another seat holder who sued to block the Big Board's takeover of Archipelago Holdings.

Edward Reiss, 65, a floor broker since 1973, surrendered to the New York Police Department on Aug. 29, and was charged with aggravated harassment because of a message he allegedly left in June on the voicemail of the attorney for William Higgins, a NYSE member who opposes the merger. On Sept. 27, a New York State Supreme Court judge issued an order of protection barring Reiss from interacting with Higgins. His trial has been set for Nov. 7.

According to the New York Post, the tape reveals the caller allegedly told Higgins' lawyer, Jay Eisenhofer, “If this deal doesn't go through, he better have somebody start his car.”

The alleged threatening phone call would not be the first time Reiss has let his mouth get him into trouble. He has been disciplined five times by the NYSE for unprofessional conduct, including a $5,000 fine in 1996 for cursing out a specialist over a trading dispute.

In 1991 he was censured and fined $2,500 for accosting reporters on a guided tour of the NYSE and berating them for donning casual attire. In addition, in 2001, the Big Board slapped him with a $10,000 fine for accepting orders from a customer who wasn't approved by the NYSE.

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