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Regulator, Lawyer Discuss Wall Street’s Settlement

Wall Street Journal Online

Christine Bruenn, a securities regulator, and Phil Aidikoff, a securities lawyer, discuss the ramifications of the settlement, and what lessons investors should take away. Christine Bruenn is president of the North American Securities Administrators Association. Ms. Bruenn, the securities administrator for Maine, worked with other regulators in drafting the settlement reached with Wall Street firms. […]

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Judge Rejects New Disclosure Requirements: U.S. Rules Pre-empt State’s Ethics Law

Los Angeles Daily Journal

San Francisco – In a significant blow to the state’s tough new ethical standards, U.S. District Judge Jeremy Fogel of San Jose ruled Tuesday that the new disclosure requirements for arbitrators cannot be applied to securities groups because the rules are pre-empted by federal statues. In a 28-page ruling, Fogel agreed with the claims made […]

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Attorneys Who Pursue Brokers Often Manage Their Own Money

Dow Jones Newswires

NEW YORK — Attorney Mark Maddox makes his living pursuing stockbrokers who have done their clients wrong. So when he needs someone to manage his money, to whom does he turn? A Salomon Smith Barney stockbroker who believed every word that now-defrocked telecom analyst Jack Grubman uttered about the industry – including the fact that […]

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Now It’s Fraud

New York Post

Regulators will find that some of Wall Street’s biggest firms committed fraud by issuing bogus research, in a development that has plaintiffs lawyers for burned investors salivating. While regulators won’t use the term “fraud” against most firms, some, including Citigroup’s Salomon Smith Barney and Credit Suisse First Boston, may be tagged with it, sources said. […]

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Stop Loss Discipline Fails Stock Brokerage: Arbitration Panel Awards Two Merrill Lynch Clients

The Daily Journal

When the stock market tanked three years ago, a lot of investors lost their shirts. Some brokerage houses blamed market forces for their customers’ shrunken portfolios. Merrill Lynch took that position after two of its clients, brothers Aleks and Michel Horvat, lost more than $2 million over an eight-month period in 2000. The brothers subsequently […]

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