Let’s hope both parties realize this and work out something beneficial. The owner has one obvious buyer, and MSSB has an obvious motivation to get a deal done. However, in the months following, they have had plenty of time to acquire it as well as the resources. Since the merger came together quickly and was announced quickly to help stem consumer concern, they didn’t have time to negotiate to buy a domain name during this period of time. Clients can still log into their accounts by using or as they did before, but I would imagine something will change once the rollout has been completed to help with brand cohesiveness and recognition.Īlthough the domain name was registered and owned well before the merger, MSSB has done itself a major disservice by not acquiring the domain name already. The renamed organization does own the long domain name, but that’s a pain in the ass to type in and not typo. The new company dubbed Morgan Stanley Smith Barney began notifying customers of the name change earlier this month via USPS, and the letters were written on Morgan Stanley Smith Barney letterhead, although there is no url cited in the top or bottom of the letter. Storaska, who is the subject of civil and criminal inquiries, could not be reached for comment.One of the pieces of fallout of the US economic situation was the merger of Morgan Stanley and Smith Barney, two of the largest investment and financial management firms in the world. Ball have said their client had no relationship with the broker.
Ball directly interceded on his behalf, although lawyers for Mr. Frederic Storaska.Īccording to the complaint, senior management obstructed attempts to shut down the broker's operations in the firm's Dallas branch once the extent of his violations were learned. The complaint did not name the broker, but offered significant details that identified him as J. The former Prudential chairman will also be dealing with allegations that he may have helped to protect a Texas broker whose misdeeds were among those singled out in the S.E.C. actions said the agency had discussed plans with potential defendants to name Mr. Sherman, denied a report in The New York Times yesterday that his client had been told that the S.E.C. Haick have not returned repeated phone calls seeking comment.Īrthur Mathews, a lawyer for Prudential and Mr. None of the three executives would be cited for participating in fraud, people involved in the case said. Sherman and Richard Sichenzio, who both headed the retail division at different times in the 1980's, and Joseph Haick, who served as Mr.
Other former Prudential executives who were said to face possible complaints for failing to adequately supervise are Robert L.
Newkirk, associate director of enforcement for the S.E.C., said, "The head of the firm can be responsible for the firm's failure to comply with an S.E.C. While declining to discuss the particulars of any case, Thomas C. Ball also headed the firm when Prudential failed to meet the terms of a 1986 settlement with the S.E.C., which required Prudential to adopt strict compliance procedures to prevent abuses of clients by brokers.
Ball was the person with the most senior management responsibilities at the time Prudential was lax in its compliance procedures, according to the S.E.C. inquiry turn on securities law provisions requiring managers of brokerage firms to provide adequate supervision. The firm was said to be paying for the lawyers who are working with him in both the investigations and in several civil suits. enforcement staff has recommended charges against more than five of them.Īs long as the investigations continue, Mr. A number of executives have been told that the S.E.C. More than a dozen former and current Prudential executives are also being investigated by the S.E.C., including several top retail executives who reported to Mr.
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