Legal & Compliance

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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.

Final DOL Rule Draws Near As OMB Completes Review

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Observers say the Biden administration is moving swiftly to prevent Republicans from overturning the rule in a new Congress.

Finra Arbitrators May Be Mishandling Broker Defamation Claims, SIFMA Says

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The securities industry group wants Finra to reform how it handles broker termination disputes.

Advisors Leaning More Into Technology, According To Orion Survey

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Only 10% of respondents said they have all the tech they need.

You Can't 'Legislate Good Behavior': What Advisors Really Think About The DOL Rule

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Few in the advisory industry view the fiduciary proposal as a cure-all.

Advisor Scores Restraining Order Victory Against Hightower

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Ex-Hightower advisor Lars Knudsen got a restraining order after accusing the firm of poaching his clients.

Edelman Explains Why The Days Of Advisor Poaching Are Here

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Meanwhile, Mariner's CEO sees advisors missing a huge opportunity.

Commonwealth Hit With $93.3M Judgment Over Revenue-Sharing Conflicts

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The SEC said the firm's revenue-sharing agreement made mutual funds more costly to clients.

JPMorgan Client Who Lost $50 Million Fortune Faces Court Setback

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Peter Doelger and his wife sued JPMorgan over investments they allege never should have been allowed.

Morgan Stanley Lawsuit Alleges Former Rep Is Stealing Clients

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The firm is seeking a temporary restraining order against a former rep at its Newport News, Va., office.

Fiduciaries Should Have 'Little Difficulty' Complying With DOL Rule, CFP Board Counsel Says

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CFP Board General Counsel Leo Rydzewski also feels the DOL fiduciary rule can withstand a court challenge.

How Insurance Agents Can Ascend Under The New DOL Rule

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The DOL has provided insurance agents with an opportunity to advance the practice of retirement income distribution planning.

Former Indiana Advisor Gets 4 Years For Stealing $4.6M From Client

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Christopher Turean used his client's money to gamble on sports and pay off a home equity loan.

Reg BI Client Claims Double In 2023 As Finra Arbitrations Jump 12%

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One securities attorney said to expect more client complaints based on Reg BI standards.

Bankman-Fried Is Sentenced To 25 Years In Prison Over FTX Collapse

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He faced as long as 110 years behind bars after being convicted last year of seven offenses.

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