Legal & Compliance

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RBC Capital Fined More Than $700K For Finra Violations

by FA Staff

The firm must pay fines and restitution for violations on trade confirmations and customer credit.

You Can't 'Legislate Good Behavior'

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Here's what advisors really think about the DOL rule.

Ex-Ameriprise Advisor In Texas Gets 5 Years For Stealing $1.2M From Clients

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Dusty Sternadel tricked her mostly elderly clients into cutting checks that she deposited into her personal accounts.

Independent Insurance Brokers Most Impacted By DOL Rule, Attorney Says

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Unlike advisors, many broker and agents will be contending with fiduciary responsibilities for the first time.

New FTC Ban On Noncompete Agreements Raises Questions In Advisor M&A World

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The new rule could allow exiting advisors to actively recruit clients. IAA says it goes too far.

GOP Lawmakers Slam New DOL Fiduciary Rule

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Insurance regulators and the annuities industry also give tougher regulations a thumbs-down.

S.C. Advisor Pleads Guilty To Tax Evasion

by FA Staff

The IRS said he failed to account for $2.5 million in money shuffled in overseas accounts.

DOL Approves Final Fiduciary Rule

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The controversial rule expands the fiduciary requirements when clients are given advice on retirement account rollovers.

GOP Senators, Manchin Move To Kill SEC Climate Disclosure Rule

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The agency's rule calls for stricter disclosure by public companies about climate-related risks.

TD Investors Meet As Probe, CEO Succession Fuel Frustration

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The bank's shareholders meeting comes as the firm contends with a probe into its anti-money-laundering controls.

Finra Says It's Focusing On Repeat Offenders, Considering Higher Penalties

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"Bad actors" with a history of repeat violations will be a major priority, Finra's enforcement chief said.

SEC Targets Its Own Staff's Texting, Nixes WhatsApp On Work Phones

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The move follows about $3 billion in fines imposed on financial firms over private messaging.

Advisors Need To Be Careful When Using Fintech Vendors, Exec Says

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Outsourcing technology solutions requires a high level of due diligence, says Ncontracts CEO Michael Berman.

SEC's Market Surveillance Tool Called Unconstitutional In Texas Lawsuit

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The suit accuses the agency of "dystopian surveillance" of U.S. trading activity.

Morgan Stanley Downplays Regulator Queries Into Wealth Management Clients

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The inquiries focus on a wealth management arm that has swelled into Morgan Stanley's biggest business.

Brokerage, Annuities Industries Make Last-Ditch Effort To Delay DOL Fiduciary Rule

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The groups, arguing the proposal has been rushed, asked government officials to get more public input.

IAA Wants Low-Risk Advisors Excluded From Money Laundering Proposal

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The Treasury Department has proposed a rule requiring all SEC advisors to have anti-money-laundering programs.

J.P. Morgan Ordered To Pay Broker $250K In Defamation Case

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A Finra panel sided with a broker who claimed the firm defamed him in a Form U5 filing.

5 RIAs Fined $200K For Violating Marketing Rules, SEC Says

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The SEC has now penalized 14 registered investment advisors in its crackdown on marketing infractions.

Morgan Stanley Drops On Report Of U.S. Probes Into Wealth Unit

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The investigations are looking at the bank's efforts to prevent money laundering, according to published reports.

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