by
Ray Fazzi
SEC Chairman Mary Schapiro signaled today that the
commission is preparing to take a tougher regulatory stance on retirement
products, hedge funds, OTC derivatives and asset-backed securities.
by Kristina Fausti
It appears that the SEC will remain the primary federal regulator of investment advisors, at least for now.
by
Dorothy Hinchcliff
The CFP Board of Standards has revoked CFP licenses from three advisors and disciplined three others.
by
Dorothy Hinchcliff
A North Carolina couple settled charges yesterday in which
the SEC allege they bilked $32.5 million from
about 500 investors, many of whom they met at church gatherings.
by
Dorothy Hinchcliff
A Brooklyn, N.Y., money manager has settled charges that he ran a $40
million Ponzi scheme in which he promised investors
guaranteed high returns from safe, liquid investments, the SEC says.
by
Ray Fazzi
William Baldwin, president of
Pillar Financial Advisors in Waltham, Mass., today began a one-year term as
chairman of the National Association of Personal Financial Advisors (NAPFA).
by
Ray Fazzi
SEC Chairman Mary L. Schapiro has put out a word of warning
to broker-dealers who are using large bonuses, enhanced commissions and other
financial perks to land top producers.
by
Dorothy Hinchcliff
A couple has filed a claim against Merrill Lynch seeking $5 million in
damages because they say their accounts were overloaded with preferred
stock.
by
Ray Fazzi
The Financial Planning Association has asked the Securities
and Exchange Commission to restrict the role of Financial Industry Regulatory
Authority when it comes to regulating financial planning.
by
Ray Fazzi
New York State Attorney General Andrew Cuomo has sued Charles Schwab & Co., alleging the company
failed to disclose the risks of auction-rate securities to its clients.
by
Jeff Schlegel
The SEC on Thursday has charged two
Ohio-based investment advisors with overstating the value of an
investment portfolio so they could charge more fees.
by
Jeff Schlegel
Congressman Barney Frank (D., Mass.) won't push for a self-regulatory
organization to oversee registered investment advisors, according a published
report.
by
Dorothy Hinchcliff
Ameritas has been fined $100,000 and one of its
brokers has been suspended and fined for convincing customers to borrow
against their homes to buy variable universal life insurance policies.
by
Dorothy Hinchcliff
A federal judge sentenced 71-year-old former planner Judith Zabalaoui
to 97 months in prison for using a Ponzi scheme to embezzle millions
from clients.
by
Dorothy Hinchcliff
General Electric Co. has agreed to pay a fine of $50 million to settle civil fraud and other charges filed against it by the SEC.
by
Dorothy Hinchcliff
A group of leading financial advisors has met with Washington officials
and let them know that fiduciary principles should apply to all those
giving investment advice.
by
Dorothy Hinchcliff
Bank of America has agreed to pay $33 million to settle SEC charges that it misled investors
about $5 billion in bonuses that were being paid to Merrill Lynch executives when the bank bought it.
by
Ray Fazzi
The CFP Board of Standards says some advisors should be exempt from a
proposed SEC rule that would subject advisors to surprise audits if
they have custody of client assets.
by
Ray Fazzi
A former police officer and his cohort used at least $7 million in real estate fund investor money to pay for luxury homes, exotic vacations, gambling debts and a Ferrari, according to the SEC.
