Legal & Compliance

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Finra Says It Will Continue 'Thematic' Advisor Exams

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The exams have led to large Wall Street firms paying millions in penalties for using off-channel communications.

Nationwide Planning, Affiliates Blocked SEC Customer Complaints, Agency Says

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The New Jersey firms interfered with whistleblower laws when it had clients sign NDAs on compensation, the agency said.

SEC Ends Legal Push To Revive Hedge Fund Fee Disclosure Rule

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The rules required private fund managers to give investors more details about quarterly fees and expenses.

Former Broker Gets 4½ Years For Stealing $1.8M From Clients

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Many of Thomas Demergian's victims were elderly and "vulnerable" clients he had befriended, the sentencing judge said.

Safeguarding Business Assets During Divorce

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Here are six strategies to help safeguard clients' business assets when marriages come apart.

GAO Undercover Probe Finds 'Many Complex Conflicts' In Advisor IRA Advice

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The DOL and IRS should crack down on conflicted advice, the government watchdog said.

Warren Presses Finra To Explain Decline In Enforcement Actions

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The senator called the decline part of a "deliberate deregulatory effort."

Finra Panel Orders Ex-First Republic Advisor To Repay $11.5M In Recruiting Loans

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It was the first ruling in an effort by JPMorgan to recoup $90 million in bonus agreements from 16 advisors.

Merrill Lynch, BofA Fined $3M Over Manipulative Trading

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The firms failed to guard against trading designed to manipulate markets, Finra said.

Texas Officials Sued Over Anti-ESG Law Targeting Wall Street

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The plaintiffs argue that the state's anti-ESG laws violate the First Amendment's freedom of speech rights.

Will The DOL Appeal Court Stay Of The Fiduciary Rule?

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Attorneys say court stays on the rule are likely to remain in place until after the presidential election.

SEC Retreats From 'Swing Pricing' Mandate For Mutual Funds After Stiff Opposition

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Critics said the proposal would have put heavy burdens on investors saving for retirement.

Investors Of Expelled SW Financial Awarded $13 Million By Finra Panel

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The panel said the firm failed to clamp down on aggressive account churning by reps.

Big Tech Dominance Is Forcing Index Superpowers To Rethink Rules

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The exploding values of Big Tech stocks are conflicting with regulatory limits on index weightings.

Three New Cash Sweep Suits Hit Ameriprise And LPL

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Customers unhappy with the rate of return on cash sweep accounts continue to turn up the legal heat.

N.J. Advisor Gets 12-Year Sentence For Defrauding Gold Star Families

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Among Caz Craffy's victims was a child whose parent died on active duty, according to the SEC.

FTC Ban On Worker Noncompete Deals Blocked By Federal Judge

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The ruling is a blow to the FTC and further divides the judiciary over the regulator's powers.

Morgan Stanley Faces Pregnancy-Related Discrimination, Harassment Suit

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Sarah Bolous, a former associate private banker, said the bank retaliated against her after she disclosed her pregnancy.

Clients Sue Cambridge Over Alleged $1M Loss In Alternatives

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The lawsuit alleged the investment was inappropriate given the couple's risk tolerance.

Icahn Reaches $2M SEC Settlement In Margin-Loan Violation Case

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The billionaire investor failed to disclose the use of company shares to collateralize billions in margin loans, the SEC said.

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