Starting in 1993, he built a thriving brokerage practice at Merrill Lynch -- he was in the top 20percentt of brokers at the firm -- by cultivating a small stable of well-heeled clients in Manhattan.
The proposal seeks, in part, to address criticism by Arthur Levitt, the S.E.C. chairman, of a common brokerage practice known as "internalization," in which firms fill customer orders from their own inventories of stock.
Smooth and socially ambitious, Mr. Bacanovic became a broker at Merrill in 1993 and was an immediate success, tapping into a wide circle of wealthy friends and acquaintances to build a thriving brokerage practice.
Congress and the Securities and Exchange Commission have pushed for changes in brokerage firm practices, saying that analysts may have made unreasonably optimistic forecasts to advance their financial interests.
Our proposal would promote brokerage compensation practices that better align the interests of customers and brokers by enabling brokers to charge fees based on account assets instead of transactions.
The Hartford disclosed in November that it has received subpoenas from the California and Florida attorneys general over its brokerage commission practices.
Now that the bubble has burst, brokerage-firm practices like the ones Mr. Teeples encountered are coming under scrutiny.
When regulators were cracking down on brokerage firms' practice of paying stock analysts for bringing in investment banking deals, a Credit Suisse First Boston executive suggested Mr. Dougan might be helpful, according to an e-mail message regulators gathered in their investigation in 2002.
The investigation into the brokerage-firm practice of allocating hot new stocks for commission kickbacks is just one show we look forward to watching.
Capital Advisors, are accusing the discount brokerage of unfair practices and have filed a claim with the U.S. Securities and Exchange Commission.
With Spitzer's revelations today, and ongoing investigations into brokerage firm selling practices for mutual funds, however, the terms of future trading policies are moving further into regulator's hands.
