Insurance organization's bid to sink the fiduciary standard misquotes, irks SEC commissioner.
by
Ray Fazzi
A proposed fiduciary standard for all financial advisors is back in
play as the U.S. Senate debates financial services reform-and backers
of the measure may have Goldman Sachs to thank.
Two financial advisors and their firm must pay nearly $1.9 million after being accused by the advisors' former employer of allegedly breaching their contract and stealing trade secrets.
by Bill Bachrach
A lack of fiduciary standards for the industry means that you have a competitive advantage when you put the client first.
Finra remains concerned
about the inappropriate sale of annuities to seniors, and its
examinations of firms continue to raise red flags on the issue.
Lloyd Blankfein's support of a fiduciary standard for retail brokers
now seems like nothing more than a bone thrown at financial reformers.
by Suzanne Barlyn
The limited role assigned to the SEC's new compliance chief
may unwittingly help the agency's critics, who have turned up the heat
in response to the government's push for tougher regulations and...
The recent SEC complaint against Goldman Sachs Group Inc. has
brought newfound attention to the "fiduciary standard."
The new director of the SEC's
Office of Compliance Inspections and Examinations says the agency has
ushered in a "new day and a new regulatory approach."
An enforcement case against a small brokerage in upstate New York shows
that fraud may lurk not only on Wall Street, but also off the beaten
track.
by
Ray Fazzi
The Securities and Exchange Commission has charged a California man with
running a fraudulent investment operation that raised $3 million from
the public.
Legislation to reform the financial system not
only proposes regulatory changes, but also asks for lots of studies by the SEC.
by
Dorothy Hinchcliff
For the first time, the CFP Board of Standards is posting sensitive
information online about actual misconduct cases that have come before
it for the public and financial advisors to see.
Securities regulators' actions against Morgan Keegan & Co. put its
brokers in the same basic category as investors: duped.
by Ian Salisbury
In Washington, almost anything will fly if you can make an argument it will benefit the middle class. It worked in the fight against requiring advisors to act in clients' best interests.
by
Jeff Schlegel
The CFP Board of Standards Inc. this week added
two members to its Disciplinary and Ethics Commission, filling out the
nine-person body that doles out penalties for misconduct violations.
A proposal to hire an investors' advocate at the Securities and
Exchange Commission begs the question: What is the SEC advocating now,
if not the interests of investors?
The most vocal opposition to the push to make financial advisors more
responsible to clients hasn't come from Wall Street firms or giant
banks, but insurance
companies.
The securities industry should begin to prepare
for a fiduciary standard even if lawmakers have put off any such move in the
short term, the CEO of FINRA
said this week.
by
Jeff Schlegel
The Financial Industry Regulatory Authority's head of enforcement, Susan
Merrill, is leaving her job, according to published reports.
