For example, regulators fined a major firm $23.3 million under circumstances where it charged a 91-year old client more than $35,000 for just four trades over a period of two years (approximately $8,800 per trade) substantially more than the same client would have paid in a traditional brokerage account
. Caveat emptor!
The wirehouse said in a press release that clients who "prefer transaction-based pricing will continue to have access to retirement brokerage accounts
and receive advice that complies with the DOL fiduciary rule and Best Interest Contract Exemption (BICE)."
A 401 (k) lawsuit targeting investment advice and self-directed brokerage accounts
was recently brought against Fidelity Management Trust Company (Fidelity) based on the premise that Fidelity is a plan fiduciary because it selects which share classes are made available in the self-directed accounts, thus exercising discretion over plan asset investment (Fleming v.
It is the policy of the PCC to sell the shares as soon as possible after they are deposited into our brokerage account
and to distTibute the proceeds to the donor's designated beneficiary/ies.
The computer hacking into bank and brokerage accounts
was done through a variety of schemes in 2004 and 2005, according to the Justice Department.
Similarly, the SEC's complaint says that on 5 August 2008, Rusciano produced to another selling agent a brokerage account
statement reflecting an 'equity' balance for Ponta Negra Fund LLC of more than $64 million.
said Wednesday it will launch new debit card services Monday allowing its customers to use their dollar-denominated money market fund at their brokerage accounts
for dollar-based settlements of overseas purchases.
Then, taxpayers, having an expectation that their brokerage accounts
are much larger than they really are, can only deduct the actual loss.
BrokerageLink is a self-directed brokerage account
offered through Fidelity Brokerage Services that became available to Savings Plan participants in January.
When the online brokerage account
was introduced in the 1990s, it was expected that this new form of investment would revolutionize the way people handled their stock transactions.
Clause deposited the sale proceeds into a brokerage account
. On February 18, 1997, he purchased securities issued by domestic corporations, totaling $1,399,775, which satisfied the requirement of section 1042(c)(4) as "qualified replacement property."
Bank Accounts: You can name The VRG as the beneficiary of any checking or savings account, certificate of deposit, mutual fund, or stock from a brokerage account
. Your financial institution can provide you with a beneficiary-designation form (also known as a transfer-on-death or pay-on-death form).