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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Lori Hardwick, a Recognized Industry Leader and #2 at Pershing, is Leaving
Pershing announced that COO Lori Hardwick has left the firm, after only 11 months as the #2 executive at the Jersey City, NJ-based firm. Pershing is a subsidiary of BNY Mellon. Hardwick was named to the post, effective 2/29/16, succeeding 26-year Pershing veteran Lisa Dolly, who was named CEO two weeks earlier. Dolly, in turn, was succeeding Ron DeCicco, who retired.
Longevity is common to the BNY Mellon culture, so Ms. Hardwick’s departure was an apparent surprise. A Pershing spokesperson said the company was taking steps to replace Hardwick in the COO position.
Hardwick came to Pershing from Envestnet, which she joined in 2000 and at which she held a variety of positions - the last of which was group president of advisory services. Upon her hiring at Pershing, Dolly said in a statement that Hardwick “brings many years of investment, technology and advisory expertise to Pershing and will help us deliver solutions which empower clients and improve the advisor and investor experience."
Perhaps the biggest issue that Ms. Hardwick had to deal with was the Department of Labor’s fiduciary rule, which she called a “kick in the pants" to the industry.
Hardwick was named to Investment Advisor’s IA 25 list of the most influential people in the industry in 2016, in which we called her "Pershing's Advisor Advocate."
In an interview for the May 2016 issue, she said that with the industry “changing so fast and having so many different constituents across the advisor landscape,” she said, it’s important for leaders to understand that “every client’s important,” and that their role is to help each client build “their own practice their own way.”