by
Jeff Schlegel
Regulators can seem like scary people, but financial advisors who take
time to reach out to their state regulators could have an ally down the
road in times of need.
Recent shake-ups in the U.S. Senate will probably not impact the development of a stringent fiduciary standard for
certain broker dealers.
Five senior enforcement officials at the Financial Industry Regulatory
Authority will be leaving as the regulator streamlines management.
Estimates suggest the burden the tax would place on mutual
fund investors would, while real, be smaller than other controversial
fees investors have paid for years.
by
Ray Fazzi
Groups from across the financial spectrum have asked Congress to resist efforts to weaken proposed legislation that would require all financial advisors to abide by a fiduciary standard of care.
A new rule requiring some RIAs to undergo annual surprise audits may help stem the kind of malfeasance con artist Bernard Madoff has come to represent. But many RIAs won't be subject to them.
A confidentiality order in an arbitration case in which a branch manager won a victory is considered unusual.
The SEC is stirring anxiety among some financial advisors by reaching out to
clients at random, questioning them about their advisory relationship
and verifying account assets.
A brokerage company's former CEO has been suspended for improper marketing of private placements, the first settlement in a crackdown by Finra on sales practices involving these securities.
by
Karen DeMasters
Federal authorities have filed additional fraud charges against a
Massachusetts financial advisor who has already amassed a track record of fraud, rape and kidnapping.
The Securities and Exchange Commission approved
a rule Wednesday requiring some investment advisors who manage customer
funds to undergo annual surprise audits.
Legislation to empower a self-regulatory organization--such as Finra--to regulate
investment advisors was defeated Friday, prompting relief from those opposing the measure.
The Securities and Exchange Commission has sued Rockford Funding Group
LLC, alleging the New York investment firm orchestrated an $11 million
Ponzi scheme.
Financial Services Overhaul Getting Closer
December should be a busy month for those involved with overhauling the U.S. financial services industry...
Corporate compliance officers have been rolling their eyes at the
unfolding story of Terra Nova Financial LLC, the Chicago broker-dealer
fined $400,000 for making improper soft dollar payments.
Securities regulators are on the lookout for conflicts of interest that
may arise from the large recruiting packages some broker-dealers offer
the financial advisors they're wooing.
by
Dorothy Hinchcliff
More than 300 investors nationwide were lured into a $30 million Ponzi
scheme that focused on "green" investments, according to the Securities
and Exchange Commission.
by
Jeff Schlegel
Financial services reform is coming. How will it impact advisors?
by Clifford Caplan
Advisors need to consider how catastrophic events could help portfolios outperform.
