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Reuters
In an ideally-transparent world, you’d know as much about your broker as you know about the ingredients in packaged junk food label: All of the bad stuff would be instantly on display. But in the U.S., some of the most important information about a broker is off limits to individual investors. At present, you can […]
Business Week
Vikram Pandit knows one way to make big money in hedge funds: sell them. In July 2007, Pandit sold Old Lane Partners LP to Citigroup Inc. for $800 million and pocketed $165 million for his stake. Then he took over the bank’s in-house hedge-fund group, now called Citi Capital Advisors, or CCA. He became chief […]
Reuters
Ongoing efforts by regulators to give the public more details about financial advisers’ backgrounds still haven’t solved a key problem — getting more investors to use that information. The Financial Industry Regulatory Authority recently took a step toward resolving that issue. In a notice on Tuesday, FINRA invited suggestions from the public on possible improvements […]
Yahoo! Sport UK
Morgan Keegan & Co is hoping to recover money lost to a professional sports agent, who was awarded $400,000 in a securities arbitration ruling against the brokerage last week. The Memphis, Tennessee-based firm filed a court action in New York on Wednesday to overturn the ruling by a Financial Industry Regulatory Authority arbitration panel, which […]
Thomson Reuters
The head of Charles Schwab Corp on Thursday said the company will reimburse customers for arbitration fees in cases they file against the brokerage while a California federal court sorts out a legal dispute related to a regulatory action involving the company. “We have a fundamental disagreement” with the Financial Industry Regulatory Authority, said chief executive Walt Bettinger […]