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.
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.
