by
Dorothy Hinchcliff
It's not just clients who don't understand what people who hold
themselves out as financial advisors are obligated to do for them. A new
survey shows that many advisors are confused, too.
by
Dorothy Hinchcliff
A fund manager based in the U.S. Virgin Islands operated a $105 million
foreign currency Ponzi scheme that involved 400 investors, the
SEC charges.
by
Dorothy Hinchcliff
The SEC has charged an advisor
with fraud for taking $6.9 million in
client money and investing it in promissory notes of a real estate
company that buys and renovates distressed properties.
Elements of the sweeping financial reform will impact financial advisors by affecting the terms of their relationships
with clients, their business practices and the products they offer.
Employing part-time financial advisors often requires a robust
compliance program-at a cost that has some companies rethinking their
business strategies.
The compromise on the fiduciary standard reached in the financial services reform bill will only prolong the debate.
by
Jeff Schlegel
The SEC has charged a New York investment advisor with
malfeasance and ill-gotten gains involving collateralized debt
obligations that caused investors millions in losses.
Recruiting young athletes who stand to earn millions of dollars during
their professional careers can be lucrative for financial advisors, but
it requires navigating through a compliance...
Many financial advisors are using social-networking Web sites despite
company directives that prohibit the practice, a recent survey has
revealed.
A group of state regulators say they're up to the
task of policing smaller investment advisors. They just may be short on
some details.
If you want to figure out where the next big
financial crisis is coming, watch the proceedings in Washington over
the next two weeks.
A lot of attention has been given to the impact new
financial rules might have on banks, but at least one analyst argues the potential hit on large brokerage firms is being
overlooked.
by
Jeff Schlegel
Congress on Wednesday
starts to tackle the investor protection provision of the financial
services reform package that could determine the fiduciary standard's fate.
Concerns about private placement sales to
less-than-sophisticated investors could get aired in Congress yet again.
Regulators have approved a change to stop brokers who have been ordered
to pay an arbitration award from using an empty-pockets excuse to keep
their license.
The arrest of a "financial advisor to the celebs" on fraud charges is
once again putting the issue of establishing and maintaining client
trust front and center.
by
Dorothy Hinchcliff
The SEC today charged a New York
City-based financial advisor who has advised celebrity clients including
Wesley Snipes and Sylvestor Stallone with running a multimillion
investment fraud.
FInra is seeking to expand its
oversight of securities professionals to back-office workers who provide
sales and trading support and handle investor assets.
A securities arbitration panel has ordered Ameriprise Financial Services
Inc. to pay nearly $470,000 to an investor, including sanctions and
legal fees.
