Mitchel Guttenberg, 41, an institutional client manager at UBS Securities, was charged with passing material--nonpublic information--to traders Erik Franklin, 39, formerly of Bear Stearns, and David Tavdy, 38, formerly of Assent, a New York broker-dealer.
Worse, lawsuits have raised disturbing questions about New Life, and the way it pays planners a commission on client donations may violate federal securities laws.
We hold the securities so we can meet client demand.
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Having access to client IDs for trades is another priority for securities regulators, says Belinda Gibson of the Australian Securities and Investments Commission.
Investment advisors must be registered with the SEC or a state securities regulator, depending on the value of client assets under management.
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They alleged it was unfair to not disclose that another client, a hedge fund, had helped design the securities and bet they would fail.
Madoff founded his securities firm in 1960 and expanded to a worldwide client base.
S. Kyoritsu Securities, and he intends to take the same client-oriented approach: higher returns, more disclosure and greater customer participation.
As adviser to its own proprietary mutual funds and manager of individual client accounts, AFAM may purchase, sell or hold positions in the securities that appear in this presentation.
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As advisor to its own proprietary mutual funds and manager of individual client accounts, AFAM may purchase, sell or hold positions in the securities that appear in this presentation.
Ms. Brune's client, Matthew Tannin, and his Bear colleague Ralph Cioffi were acquitted of securities fraud in the only major financial-crisis prosecution in 2009, without taking the stand.
Executives insist that this does not presage a new Morgan Stanley but merely a rebalancing towards less volatile, client-facing businesses, many of which, such as merger advice and securities underwriting, were the firm's bread and butter before it contracted Goldman-envy.
The general rule under the federal and state securities laws is that a fiduciary, the money manager, cannot use client assets for his own benefit or the benefit of other clients.
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The suit against Morgan Stanley (nyse: MWD - news - people ) was filed in the Southern District of California in San Diego in the name of William Dornan, a San Marcos, Calif. resident and former Morgan Stanley client, who made similar allegations in a December complaint filed with the National Association of Securities Dealers.
He said the cheap money has compressed the bank's lending margins and spreads it makes on client transactions, as well as the returns the bank makes on cash and short-term securities.
Belmont Holdings, a closely held company that owns industrial minerals assets, is a useful client for its lawyers because it posted large losses amid the financial crisis stemming from investments in securities issued by big banks.
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Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
The case filed Friday by the Securities and Exchange Commission tells the tale of how eager a bank was to please a potentially lucrative trading client at the expense of other investors.
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