Tagged with "Merrill Lynch"

Former NBA No. 1 Draft Pick Files Lawsuit Against Merrill Lynch and Advisor

Posted on December 19th, 2018 at 5:09 PM

Former National Basketball Association player and 2001 first round draft pick, Kwame Brown has filed a lawsuit in California Superior Court in Los Angeles against Merrill Lynch, Bank of America and his former adviser, Michelle Marquez, alleging fraud, breach of fiduciary duty and breach of contract.

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Independent Broker-Dealers Continue to Register Large Asset Growth

Posted on December 12th, 2018 at 10:08 AM
Independent Broker-Dealers Continue to Register Large Asset Growth

According to a recent report issued by industry consultant Cerulli; independent broker-dealers (IBDs) have posted the highest compound annual growth rate in the last five years in comparison to any other type of broker-dealer.

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J.P. Morgan Seeks Restraining Order Against Advisor Who Left for Merrill

Posted on October 16th, 2018 at 10:40 AM

J.P. Morgan Securities is seeking a temporary restraining order against an advisor who defected for Merrill Lynch.

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According to Industry for Broker Recruiting, Merrill Lynch and Wells Fargo Advisors Likely to Exit the Protocol

Posted on June 27th, 2018 at 8:51 AM

Merrill Lynch last year declared its intention to stay in the Protocol for Broker Recruiting even after both Morgan Stanley and UBS had withdrawn from the Protocol.  However, that may change. There is now speculation that Merrill Lynch will leave the Protocol and that Wells Fargo likely will follow.

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Bank of America’s Merrill Lynch Unit to Pay a $15.7 Million Settlement for Failing to Properly Supervise Mortgage Bond Transactions

Posted on June 18th, 2018 at 4:28 PM

Bank of America Corp.’s Merrill Lynch unit has agreed to pay a total of $15.7 million to settle a lawsuit filed by the SEC over allegations that it failed to properly supervise traders who persuaded clients to overpay for mortgage bonds.

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Merrill Lynch Terminates Boston Broker Over Expense Account Filing

Posted on January 11th, 2017 at 9:04 AM
Merrill Lynch Terminates Boston Broker Over Expense Account Filing

Merrill Lynch has discharged a broker with $1.4 billion of client assets for improperly submitting personal expenses for reimbursement, resulting in management’s loss of confidence.

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Fiduciary Rule in Jeopardy Under Trump

Posted on November 11th, 2016 at 9:14 AM

Could President-elect Trump put a halt to the Department of Labor’s fiduciary regulation?

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Merrill Moves to End Commission IRAs

Posted on October 25th, 2016 at 8:56 AM

In response to the Department of Labor’s fiduciary rule, which is set to begin on April 10, 2017,  Merrill Lynch has decided to end its commission IRA business.  

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FINRA Orders Merrill Lynch to Pay Brokers $800,000 in Damages After Termination Dispute

Posted on October 24th, 2016 at 9:03 AM

FINRA has ordered Bank of America Merrill Lynch to pay $800,000 in compensatory damages to two brokers who were owed compensation by the firm when they were fired without cause.

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2015 Representative Movement

Posted on October 13th, 2016 at 9:03 AM

In 2015, wirehouse firms such as UBS Financial, Merrill Lynch, Wells Fargo Advisors and Morgan Stanley, incurred a net loss of 312 reps.

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