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InvestmentNews
An elite private banking duo formerly with Bank of America Merrill Lynch is considering legal action against the firm after being terminated last month, according to an attorney for the team. “We believe that Merrill Lynch acted inappropriately and we look forward to testing the actions of Merrill lynch,” said Thomas Lewis of Stevens & Lee. […]
Reuters
The long-time head of the Financial Industry Regulatory Authority’s arbitration unit will retire, the Wall Street watchdog said on Wednesday. Linda Fienberg, who joined FINRA’s predecessor organization, the National Association of Securities Dealers, in 1996, will step down from her post at the end of November, according to a statement from FINRA. A successor has […]
Los Angeles Times
Wade Bradley sells the Hollywood dream. But unlike the stories on screen, the ending isn’t always happy, some of his investors claim. Bradley’s Media Society Inc. solicits wealthy people to invest in a slate of independent films that it produces and distributes through a subsidiary, with the minimum investment set at $150,000. If the movies […]
St. John’s Law Review
Following the Enron and WorldCom scandals in 2001, public outrage over the lack of executive accountability led to the Sarbanes-Oxley Act of 2002 which required better public disclosure. Wall Street argued that this new disclosure standard would cause publicly traded companies to join foreign exchanges instead of United States based securities exchanges, and that this […]
New York Times
For years, regulators have typically pursued brokerage firms over the failure of investments they sold rather than going after individual stockbrokers, because the target was larger and the possibility of reaching a financial settlement was greater. Now, regulators are shifting their focus in their fight against fraud to encompass brokers. The shift comes even as […]