Saturday, 21st November 2009

 

21 July 2009 - Press Briefing

US industry body supports plan for broker standards

The Securities Industry and Financial Markets Association on Friday pledged its support for the Obama administration’s plan to hold financial advisers to increased accountability for protecting clients' interests, according to a Reuters report.

John Taft, chief of RBC US wealth management, and chairman of SIFMA's private client group, said that the proposal to give the SEC new tools to harmonise the regulation of investment advisers and broker-dealers offered “an opportunity to start anew".

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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