Wheat First reps seem positive after the Aug. 20 announcement that their firm will be acquired by Charlotte, N.C.-based First Union Corp., the nation's sixth largest bank.The acquisition was billed by both Wheat First, a Richmond, Va.-based...
Firms can settle customer complaints, report the settlement on a broker's record, and even come after a rep's assets to pay for it--all without the broker's consent.What's more, although states disclose customer settlements of more than $5,000...
When Morgan Stanley and Dean Witter Discover announced their merger this year, many on Wall Street speculated about a possible culture clash between a white-shoe investment-banking firm and its new "9-to-5" retail partner.Already, a push to sell...
In an August Notice to Members (97-50), the NASDR is requesting comment regarding the "appropriate regulation" of various forms of compensation paid in the sale of funds and variable annuities.The NASDR is considering requiring some type of...