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CALIFORNIA | LOCAL
October 8, 1998 | MICHAEL BAKER
The New York Stock Exchange has permanently barred two San Fernando Valley brokers for violating exchange rules relating to the misappropriation of clients' money. Patrick S. Bass, of Sherman Oaks, and Ernest R. Collette, of West Hills, both former brokers, were banned from conducting any business with the exchange or its associates upon action of the NYSE Hearing Board, a spokeswoman said Wednesday.
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CALIFORNIA | LOCAL
May 5, 2009 | Bloomberg News
Albert H. Gordon, a Wall Street leader who sidestepped the 1929 market crash and helped rescue stock brokers Kidder, Peabody & Co. in the Depression, died Friday. He was 107. The New York Times and the Wall Street Journal reported that Gordon died at his Manhattan home. Gordon was an energetic salesman and active investor for more than eight decades, outlasting Kidder and even ticker tape on Wall Street. Over the years, he kept attuned to market trends and new ideas.
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BUSINESS
December 22, 1990 | From a Times Staff Writer
The Securities and Exchange Commission on Friday suspended trading for 10 days in the stock of an Irvine developer of child-care centers as part of a nationwide investigation into alleged market manipulation by some stockbrokers. Sources close to the investigation indicated that neither Unifirst Corp., a penny-stock company based in Irvine, nor its executives are presently under investigation.
CALIFORNIA | LOCAL
October 5, 2000
Ventura resident Harold Stevens Anderson died Tuesday at his home after a brief illness. He was 96. Anderson was born April 10, 1904, in Rawling, Wyo., and moved to Ventura County in 1930. He graduated from Stanford University in 1927 with a bachelor's degree in chemical engineering. While at Stanford, Anderson was a member of the Sigma Alpha Epsilon fraternity. Anderson worked at Shell Oil Co. in Long Beach and in 1930 was transferred to the company's Ventura facility.
CALIFORNIA | LOCAL
July 28, 1992
Building a nest egg takes discipline and prudence and carries a certain amount of risk. In these days of low interest rates, many savers are taking their money out of low-bearing bank accounts or certificates of deposit and plunking it into the stock market in hopes of earning better returns. But beware, small investors: The vagaries of the market may not be the only risk. Although the vast majority of brokers is honest and dedicated to the interest of clients, a small number are unethical.
BUSINESS
January 11, 1988 | BILL SING, Times Staff Writer
Black Monday was a nightmare for many investors--and not just because the Dow Jones industrial average nose-dived by 508 points. Many investors couldn't reach their brokers or mutual funds by phone to execute orders, while some orders that got in were mishandled or delayed. Others saw their margin accounts liquidated without their consent. Still others unwittingly lost their life savings in risky options trading. Since Oct.
BUSINESS
August 24, 1992 | From Bloomberg Business News
The Federal Communications Commission is expected to establish rules regulating telemarketing next month that could severely restrict securities brokers from making unsolicited calls to potential clients. The unsolicited calls, known as "cold calls," are an important part of a broker's business, especially for new brokers who use them to start client relationships, said Michael Esser, a principal at Edward D. Jones, a securities firm that deals primarily with individual investors.
BUSINESS
May 8, 1993 | SCOT J. PALTROW, TIMES STAFF WRITER
A powerful House subcommittee disclosed Friday that it is investigating whether the securities industry adequately disciplines dishonest stock brokers, and it asked two federal agencies to act on the matter. In a letter Friday to Richard C. Breeden, chairman of the Securities and Exchange Commission, Rep. Edward J. Markey (D-Mass) asked the SEC to report on the status of a wide-ranging inquiry, begun last year, into the hiring and disciplinary practices of a dozen leading Wall Street firms.
BUSINESS
September 18, 1992 | From Times Staff and Wire Reports
SEC Extends Deadline in Broker Inquiry: The Securities and Exchange Commission has given big Wall Street firms more time to respond to a detailed list of questions about their stock brokers. The Times reported in July that the SEC had begun an informal inquiry into whether the firms knowingly employ brokers who routinely cheat customers. Industry sources said that while some firms have handed in their responses, other asked for more time. The new deadline is Sept. 28, sources said.
CALIFORNIA | LOCAL
December 2, 1998
Darlene Faye Gillespie, an original member of television's "Mickey Mouse Club," was portrayed by a prosecutor Tuesday as someone who in midlife morphed into a scheming stock fraud artist, a claim disputed by a defense lawyer who called her the innocent dupe of unscrupulous stock brokers. In his opening statement before a federal jury, Assistant U.S. Atty. Jack S.
BUSINESS
April 1, 2000 | DEBORAH STERN, BLOOMBERG NEWS
Palm Inc. is almost too hot to handle at online brokerage DLJDirect. And so are a lot of other stocks in this volatile market. Palm, maker of the top-selling Palm personal organizer, went public March 1 and promptly joined DLJ's list of stocks--319 and rising--that the firm thinks are too risky to be purchased with borrowed money. If customers want to buy these shares, they must use their own cash--not money borrowed from DLJDirect, a unit of Donaldson, Lufkin & Jenrette Inc.
CALIFORNIA | LOCAL
October 14, 1999
He was born Dec. 21, 1896, in Bogota, Colombia. For more than 50 years, he worked for the Columbian Stock Exchange as a broker. After retiring, he moved to Oxnard in the late 1960s. He became bored with retirement so he became a maintenance worker at St. John's Regional Medical Center. Rodriguez retired again in 1980. He was a parishioner of Santa Clara and Sacred Heart churches.
BUSINESS
July 26, 1999 | STUART SILVERSTEIN
If you want to check a stockbroker's background before opening an account, there's plenty of information available. Before you get started, it helps to get what is known as a CRD (Central Registration Depository) number from the broker. If you don't have the CRD, though, providing the broker's full name should be sufficient to find the records.
BUSINESS
July 14, 1999 | WALTER HAMILTON, TIMES STAFF WRITER
Several leading U.S. investment houses have held discussions in recent weeks with day-trading brokerages and software firms about buying into the smaller companies, sources say--suggesting a major shift in Wall Street's view of the much-maligned day-trading practice. The large firms, which include Merrill Lynch & Co., Salomon Smith Barney Inc. and Lehman Bros. Holdings Inc.
NEWS
June 10, 1999 | WALTER HAMILTON
If it already seems like every ad on CNBC or in the financial pages is from an online-brokerage firm, just wait. Discount brokers Ameritrade Holding and Mydiscountbroker.com said Wednesday they will soon ramp up advertising spending amid an intensifying battle to lure customers. At an industry conference in San Francisco sponsored by investment bank Putnam, Lovell, de Guardiola & Thornton, Ameritrade said it will boost its ad budget next year to $200 million from $40 million this year.
CALIFORNIA | LOCAL
December 2, 1998
Darlene Faye Gillespie, an original member of television's "Mickey Mouse Club," was portrayed by a prosecutor Tuesday as someone who in midlife morphed into a scheming stock fraud artist, a claim disputed by a defense lawyer who called her the innocent dupe of unscrupulous stock brokers. In his opening statement before a federal jury, Assistant U.S. Atty. Jack S.
CALIFORNIA | LOCAL
September 10, 1994
A new report from the General Accounting Office is highly critical of the Securities and Exchange Commission and the nation's stock exchanges for not being more aggressive in weeding out unscrupulous stockbrokers. The most disturbing fact in the report is that "rogue" brokers who supposedly have been permanently banned from the securities industry often resurface at brokerages or in banking, insurance or other financial services.
BUSINESS
September 15, 1994 | SCOT J. PALTROW, TIMES STAFF WRITER
The Securities and Exchange Commission disclosed Wednesday that it plans to launch a sweep of small- and medium-sized brokerage firms across the country to ferret out evidence of dishonest stockbrokers. SEC Chairman Arthur Levitt Jr. announced the sweep at a congressional hearing looking into the problem of "rogue" stock brokers who repeatedly defraud small investors. Over the next six to eight months, he said, the SEC staff will visit "scores" of brokerage firm branch offices.
CALIFORNIA | LOCAL
October 8, 1998 | MICHAEL BAKER
The New York Stock Exchange has permanently barred two San Fernando Valley brokers for violating exchange rules relating to the misappropriation of clients' money. Patrick S. Bass, of Sherman Oaks, and Ernest R. Collette, of West Hills, both former brokers, were banned from conducting any business with the exchange or its associates upon action of the NYSE Hearing Board, a spokeswoman said Wednesday.
BUSINESS
September 2, 1998
Strategists were divided Tuesday on whether to increase or reduce equity weightings in their model portfolios after Monday's market swoon. Key bull Abby J. Cohen of Goldman Sachs raised her equity allocation, as did Douglas Cliggott of J.P. Morgan. But Merrill Lynch's Richard Bernstein advised clients to cut stock holdings. Douglas Cliggott, J.P. Morgan Stocks: 60% (was 50%) Bonds: 25% Cash: 15% * Richard Bernstein, Merrill Lynch Stocks: 50% (was 55%) Bonds: 50% * Abby J.
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