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In Focus
March 25, 2002
n what is a second high profile investigation of brokerage firms' sales practices, Salomon Smith Barney is the subject of a New York Stock Exchange investigation regarding the way the firm handled accounts of Worldcom employees who held stock options. The investigation undoubtedly was triggered by the numerous complaints filed against the firm by Worldcom employees. From the other side of the aisle, two former Salomon Smith Barney brokers also are suing the firm over the manner in which it settled some of those complaints.
Recently, the NYSE launched an investigation as to how effectively brokerage firms supervise their brokers, when the broker also acts as the resident branch office manager.
— James J. Eccleston
FinancialCounsel.com
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Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
All content Copyright © 2008 Advocate Capital Management, Inc. except where noted. All rights reserved.
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