Benzinga does not provide investment advice. Today In Cryptocurrency: New Billion Crypto Fund, Hedge Fund Manager Says Buy Bitcoin With The 'Easy Trade' In Financials Now Over, BMO Sees 4 Cheap Bank Stocks With Catalysts Why You Should Pay Attention To Insider Transactions This Day In Market History: General Motors Declares Bankruptcy In June 1987, Kidder settled with the SEC on charges relating to Siegel’s trading and the firm parking stock for Ivan Boesky to help conceal his ownership of Unocal to protect him from losses.Īfter enduring heavy losses from Kidder, GE sold the unit to PaineWebber in 1994. As a result of the investigation, GE fired three senior Kidder executives. United States Attorney for the Southern District of New York Rudy Giuliani threatened to indict GE, prompting the company to conduct its own internal investigation. UBS merged with Paine Webber, an iconic brokerage firm with a heritage that includes acquisitions of Blyth, Eastman Dillon & Co. She joined the MacDonald & Ingram Wealth Management Group of Wells Fargo Advisors in 2015 and transitioned to Beacon Harbor Wealth Advisors when it began operating in the spring of 2019. General Electric Company (NYSE: GE) acquired Kidder in 1986, and almost immediately the company was slammed by several insider trading scandals.įormer executive Martin Siegel admitted to making trades based on inside information and implicated chief arbitrageur Richard Wigton of doing the same. Her resume includes: American Funds, Kidder Peabody/Paine Webber, Wheat First Union (brokerage), and Wells Fargo Advisors. was a securities firm that was founded in Massachusetts in 1865. Bobonis on brief, for defendant, appellee Paine Webber Inc. President Ronald Reagan famously urged Soviet Union leader Mikhail Gorbachev to “tear down this wall” during a speech in West Berlin. Kidder, Peabody & Co., et al., Defendants, Appellees, 993 F.2d 269 (1st Cir. In 1987, the popular sitcom “Full House” debuted on ABC. Paine Webber is offering the Kidder, Peabody brokers who generate about 200,000 of commissions payments equal to 20 percent of the commissions they generated during the previous year, or 40,000. And after all, Paine Webber rolls off the tongue a good deal more easily than UBS Wealth Management USA. Today, the Dow is trading at 24,635.21 and the S&P 500 is trading at 2,734.62.
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