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In Focus #53: 3/19/07

Recent Cases of Customer Abuse by Brokerage Firm Branch Managers Underscore Need for Effective Compliance Function

Fiduciary Focus: Non-Profits Get Their Day (Part 3)

Tale of the Tape

Lessons of the Smith Estate

Annuities: The Good, the Bad and the Ugly

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Arbitration | Customer Relations | Employment | Regulatory

Arbitration

CRD Expungement: A Guide to Obtaining This Now Extraordinary Relief

Tales From the Front: Communicate, But Don't Mislead

NASD Cautions That Fee-Based Accounts May Be Inappropriate

Respect Your Arbitrators — Or Else!

Reps Beware: Your Firm's Madison Avenue Advertising May Establish New Standards of Conduct for You

A Primer on NASD Disciplinary Hearing Procedures

When in Doubt, Disclose: A Primer on Securities Arbitrator Disclosure and Recusal

NASD's Arbitration Discovery Guide Clarifies Obligations

Customer Complaints Revisited; What To Do When The Firm Comes Knocking On Your Door For Payment

Understand How Elusive Damages Measurements Can Be In Customer Arbitrations

Know The Tricks Of The Churning Analysis

Customer Relations

A Primer on the Fiduciary's Duty to Diversify Investments And Hedge Concentrated Stock Portfolios

Securities Industry Group Outlines Best Practices For Supervisors and Compliance Professionals To Protect Investors

Rebalancing Act

Hello, Co-Fiduciary: Duties and Liabilities of the Rep Whose Accounts Include Retirement Plans

Don't Use Leverage to Diversify A Concentrated Stock Position

The Seaboard Report: A Helpful SEC Guide To Assess The Quality of Corporate Governance

SIA Provides Informative Material for Investors, and Their Reps

Remember Your Suitability Obligations

Know That Your Duties to Customers Extend "Beyond the Transaction"

Brokers: Know Your Firm's Asset Allocation and Diversification Recommendations

Know Whether Or Not You Are Making A "Recommendation"

Beware of the Internet

Guarding Against the Spendthrift Customer

Don't Invest Your Customer's Money in Alternative Investments until You Have Done Your Homework

Revenue Sharing Aspects of Qualified Retirement Plan Management

Be Careful When Choosing Investments for Your Clients' Trusts

Financial Suicide Liability: A Broker's Duty to Refuse to "Serve the Drink"

The Ethics and Professionalism Requirements of NASD Rule 2110

Be Wary Of Concentrated Portfolios

Margin Call Blues

In the Matter of Hoffman and Montgomery: Lessons Learned for Giving Effective Testimony

CFP Designation Imposes Responsibilities, Including the Duty to Blow the Whistle on Improprieties

Beware of ERISA Responsibilities

NASDAQ Settlement Fund Now Available to Investors; Tips for Filing Your Claim

"Beware of the Suicidal Customer"

Employment

Fair Labor Standards Act Litigation Fallout; The Effect (So Far) of Broker Overtime and Improper Expense Deduction Complaints

Brokerage Firms Continue To Equivocate in Defining the Roles of Their Brokers

Make Them Say Yes

A Rep's Guide to Leaving The Firm and Setting Up Shop Elsewhere

Investors Should Consult the Independent Stock Research Now Available

NASD Adds Obstacles to Brokerage Firm Asset Transfers

GAO Report Assesses NASD and NYSE Arbitration of Employment Discrimination Cases

Injunctions Against Client Account Transfers May Be Inequitable

Customer Lists: What Reps Need to Know About Using Them When They Leave Their Firms

Just Cause Requirement for Termination: It May Be Required before Your Firm Can Discharge You

Raiding and Pirating: A Primer for Brokers and Managers Considering Switching Firms

Arbitration Award Re-Affirms Broker's Employment Rights

Don't Overlook That Bonus, Even After You've Left Your Firm

Restrictive Covenants May Not Be As Restrictive As Your Firm Leads You To Believe

At Termination, State Labor Laws May Be Your Friend

Tully Report Revived Through NASD's Proposed Salesperson Compensation Rules

What to Expect, and Demand, When You Await the ACAT

Beware of Promises When Considering a Job Switch

Terminable "At Will" Brokers Still Have Valuable Employment Rights

Brokers Beware - U5 Changes Are Here!

Regulatory

Fiduciary Focus: Non-Profits Get Their Day (Part 3)

Fiduciary Focus: Non-Profits Get Their Day (Part 2)

Fiduciary Focus: Non-Profits Get Their Day

Fiduciary Focus: Keep Your Eye on the Octopus

Fiduciary Focus: Non-Fiduciary Investment Consultants (Part 1)

Fiduciary Focus: Non-Fiduciary Investment Consultants (Part 2)

Fiduciary Focus: Non-Fiduciary Investment Consultants (Part 3)

Fiduciary Focus: Non-Fiduciary Investment Consultants (Part 4)

NYSE Sanction Highlights Remarkable Failure To Supervise Abusive Sales Practices in Customers' Accounts

Illuminating the "Broad Range" Requirement of ERISA

SEC Provides Guidance For Effective Securities Firm Compliance Programs

SEC Continues To Seek To Protect Hedge Fund Investors

Brokerage Firm's Supervisory Deficiencies Highlight Areas for Investor Concern

Performance Advertising: What You Need to Know

Securities Offerings Reform

The Conflict of Fiduciary Standards With Financial Planning

Seniors Beware: Securities Regulator Details Investment Frauds

Investment Planning for Fiduciaries; An Overview of the Laws That Have Governed Private Trusts

New Rule Requires Special Care for Fee Based Brokerage Accounts

Prudent Practices for Investment Fiduciaries

NASD Disciplinary Actions; It May Pay to Fight

Portfolio Management Processes To Achieve Goals and Manage Risk Highlighted in Comptroller's Handbook

Regulator Issues Caution Regarding New Products

Frequently Asked Questions Regarding Forms U-4 and U-5

Reps and Crystal Balls: Knowing the Anticipated Cash Flow Needs of Retirement Plans

Fee-Based Accounts: More Wrinkles Approach

Six Steps to Confirm Suitability

A Primer on the Use of Email and Instant Messaging, And How They Can Be Obtained in Litigation

Suggestions To Address Customer Concerns Raised by the $1.4 Billion Global Settlement

Two Disciplinary Decisions You Should Read

What to Know in Connection with Complaints about Overly Optimistic Research Reports

Securities Industry Association Submits Its Wish List to NASDR

NASD Notices 00-21 and 95-80 Disclosure: Turning Securities Regulation into a Positive Sales Practice

Unauthorized Trading versus Exercise of Discretion without Written Authority on File; Know the Difference

Regulators Beating the War Drums over Sales of Variable Annuities

New CFP Practice Standards Impose Responsibilities In Making Recommendations

Don't Miss The New NASD Sanction Guidelines

NASD Sanction Guidelines - Specific Misconduct

CRD Angst; New Format And Internet Publicity Pose Problems For Brokers

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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.

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