About Brokers

Business Brokerage By Alan Fein

• The Gofer Broker • The Driver' more • The Case for Knowing Your Fund's Directors Investors typically don't pay much attention to the directors who oversee mutual funds. But as fund boards come under increased scrutiny, they probably should. • Midcap Stocks

Forex Broker The Securities and Exchange Commission fined four of the top US investment banks $81.25 million to settle claims that brokers were paid to tout certain mutual funds.If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. Membership is free.

— mail box, be sure to tell the company right away. You can also report the scam to the FBI's Internet Fraud Complaint Center at www.IFCCFBI.com. mail purports to come from a brokerage firm or mutual fund company, be sure to pass along that tip to the SEC' mail to enforcement@sec.gov.

Online Brokerage Print This Page

Securities brokers and dealers $53, 700 Security and commodity services 46, 900 Mortgage bankers and brokers 36, 300 Commercial banks 33, 000 Stockbrokers, who provide personalized service and more guidance over a client's investments, usually are paid a commission based on the amount of stocks, bonds, mutual funds, insurance, and other products they sell. Commission earnings are likely to be high when there is much buying and selling and low when there is a slump in market activity.

Real Estate Broker March 23, 2005 (AXcess News) New York - The Securities and Exchange Commission fined four of the top US investment banks $81.25 million to settle claims that brokers were paid to tout certain mutual funds.J.P Morgan Chase, American Express, Citigroup and Putnam Investments

(Put graphic of the investment buckets here) The best way to invest for average people is in Mutual Funds. A mutual fund is a collection of individual stocks purchased by a major company and managed by professionals. You give them a small amount of money, they add it to that of thousands of other investors and they watch over it for you. You'd have to have lived in a cave for the past 5 years not to have heard at least something about Mutual Funds.

Agency Brokerage Spark Were fined by the SEC for failing to fully disclose information about the sale of certain mutual funds.The SEC claimed that brokers steered customers to mutual funds that paid higher commissions. None of the brokerage firms admitted or denied the charges.Regulators began probing into the mutual fund sales practices over eighteen months ago. Several brokerages had already been charged with market-timing, where traders made short-term trades in mutual funds that were to the detrament of long-term investors.

Up the ladder are corporate bonds...then the stock market...and some of the most popular investments these days...Mutual Funds.

Business Broker Citigroup was fined $20 million while Putnam Investments was fined $40 million, the SEC said Wednesday. The National Association of Securities Dealers (NASD) fined the four brokerage firms an additional $21.25 million for alleged violations in the sale of mutual funds.

Brokerage Account The SEC said Smith Barney, a division of Citigroup, had been selling mutual funds through its retail group that offered incentive payments for thier promotion.Lower yielding funds were also pushed by Citigroup that offered higher commissions, regulators said.Stephen Cutler, enforcement director for the Securities and Exchange Commission in Washington was quoted as saying, "We hope securities industry professionals have by now received the message that they must fully inform their customers of the nature and extent of any conflicts of interest that may affect their recommendations."

Stock Broker American Express, Putnam and Citigroup said they had ceased the practices the SEC had charged them with over a year ago and where no longer promoting mutual funds in that manner.

Brokerage Online Stock Trading AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking business news. If you're not a member, consider joining now.

[ Comment, Edit or Article Submission ]