Legal and Compiance Issues http://wealthmanagement.com/taxonomy/term/23791/more en FINRA Rule 3110(e).... Late disclosures http://wealthmanagement.com/forums/legal-and-compiance-issues/finra-rule-3110e-late-disclosures-0 <div class="node-body forum-body"><p><span>&quot;Further, FINRA is proposing to add proposed Supplementary Material .15 to FINRA Rule 3110 to establish a temporary program that will issue a refund to members of Late Disclosure Fees assessed for the late filing of responses to Form U4 Question 14M, subject to specified conditions.&quot;</span><br /> &nbsp;<br /> Does anyone know the current status of this rule change proposal?</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-and-compiance-issues/finra-rule-3110e-late-disclosures-0" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-and-compiance-issues/finra-rule-3110e-late-disclosures-0#comments Legal and Compiance Issues CRD fees fines FINRA Late disclosures u-4 U4 Sun, 08 Mar 2015 05:36:23 +0000 806601 at http://wealthmanagement.com FINRA Rule 3110(e).... Late disclosures http://wealthmanagement.com/forums/legal-and-compiance-issues/finra-rule-3110e-late-disclosures <div class="node-body forum-body"><p><span>&quot;Further, FINRA is proposing to add proposed Supplementary Material .15 to FINRA Rule 3110 to establish a temporary program that will issue a refund to members of Late Disclosure Fees assessed for the late filing of responses to Form U4 Question 14M, subject to specified conditions.&quot;</span><br /> &nbsp;<br /> Does anyone know the current status of this rule change proposal?</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-and-compiance-issues/finra-rule-3110e-late-disclosures" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-and-compiance-issues/finra-rule-3110e-late-disclosures#comments Legal and Compiance Issues CRD fees fines FINRA Late disclosures u-4 U4 Sun, 08 Mar 2015 05:36:22 +0000 806591 at http://wealthmanagement.com Cyber Security - Who needs help? http://wealthmanagement.com/forums/legal-and-compiance-issues/cyber-security-who-needs-help <div class="node-body forum-body"><p>The SEC continues to make cyber security a top priority. &nbsp;Branch exams are expected to cover cyber security and the SEC says tha they won&#39;t be &quot;giving any passes&quot; out for practices that are not prepared to contend with cyber risks.<br /> &nbsp;<br /> My question is how important is this to the advisor community? &nbsp;You are busy enough trying to find time to spend with your clients that trying to learn and take action on the cyber front is just one more thing on your to-do list. &nbsp;How much time would that save you?<br /> &nbsp;</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-and-compiance-issues/cyber-security-who-needs-help" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-and-compiance-issues/cyber-security-who-needs-help#comments Legal and Compiance Issues Thu, 12 Feb 2015 14:38:30 +0000 780221 at http://wealthmanagement.com Help wanted http://wealthmanagement.com/forums/legal-and-compiance-issues/help-wanted <div class="node-body forum-body"><p>I work for a major bank brokerage and have 30 years&rsquo; experience.&nbsp; My bank, and I&#39;m sure the others, instruct us to only work with the &quot;affluent&quot; prospects.&nbsp; Although they claim to put the &quot;clients&quot; first in all we do they are only interested in the bottom line and in my opinion could care less about the clients. They tell us to refer clients to a toll free number for investments under 50k and talk to a marginally educated clerk that can only recommend a mutual fund and not advise on all the other financial services someone skilled could provide.</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-and-compiance-issues/help-wanted" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-and-compiance-issues/help-wanted#comments Legal and Compiance Issues Wed, 28 Jan 2015 17:42:51 +0000 764551 at http://wealthmanagement.com Limited Power of Attorney http://wealthmanagement.com/forums/legal-and-compiance-issues/limited-power-attorney <div class="node-body forum-body"><p>Hi everyone. A question about limited power of attorney; does anyone one know generally or had experience specifically about how states interperate a situation &nbsp;where the document specified that the Advisor was <strong>only</strong> allowed to make withdrawls of pre-agreed fees from the account? I&#39;ve read that if you&#39;re allowed to make withdrawls this can be interpreted as having custody and that can cause major headaches which I don&#39;t want.</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-and-compiance-issues/limited-power-attorney" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-and-compiance-issues/limited-power-attorney#comments Legal and Compiance Issues discretionary Thu, 11 Dec 2014 16:10:27 +0000 728951 at http://wealthmanagement.com New Rule 3110 http://wealthmanagement.com/forums/legal-and-compiance-issues/new-rule-3110 <div class="node-body forum-body"><p>I worked at Edward Jones for 13 years, and&nbsp;went independent&nbsp;last fall, with the idea that I would keep a main office in my home town and open another office out of state near my wife&#39;s home town.&nbsp; I planned to be the only producer.&nbsp; I wanted to keep my original office near my old EJ office and have it function as closely as possible to how it did before the move, but only have to be there one week out of each month to meet with clients as needed, as most of my work is done over the phone ( I was assured by the indy&nbsp;recruiter that I could do this, by the way).&amp;nb</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-and-compiance-issues/new-rule-3110" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-and-compiance-issues/new-rule-3110#comments Legal and Compiance Issues Office location compliance issues Mon, 22 Sep 2014 13:38:16 +0000 660231 at http://wealthmanagement.com Accredited trust status after death of primary http://wealthmanagement.com/forums/legal-issues/accredited-trust-status-after-death-primary <div class="node-body forum-body"><p>Please provide your thoughts on this hypothetical situation:<br /> An ongoing revocable trust is created by an accredited investor. It is funded with, among other things, investments which are only available to accredited investors. The trust is accredited because all the owners of the trust are accredited. The question is, what will be the disposition of the trust assets after the death of all the primary trustors. None of the successor trustees or beneficiaries are accredited. Must the trust immediately divest itself of the privileged assets? What if they are not liquid?</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-issues/accredited-trust-status-after-death-primary" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-issues/accredited-trust-status-after-death-primary#comments Legal and Compiance Issues accredited trust death Wed, 26 Mar 2014 16:37:32 +0000 523021 at http://wealthmanagement.com Need advice re: U4 issue http://wealthmanagement.com/forums/legal-issues/need-advice-re-u4-issue <div class="node-body forum-body"><p>Nine years ago I worked at a firm in a strictly administrative capacity (mostly data entry). One day they audited my email and found a few &quot;personal&quot; emails sent through my work email address. These were things like writing my sister and asking her weekend plans, absolutely nothing investment related. I was called in to the office and told I should resign and so I did.&nbsp;</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-issues/need-advice-re-u4-issue" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-issues/need-advice-re-u4-issue#comments Legal and Compiance Issues U4 finra Sat, 01 Mar 2014 00:18:53 +0000 505201 at http://wealthmanagement.com Statute of Limitations http://wealthmanagement.com/forums/legal-issues/statute-limitations-1 <div class="node-body forum-body"><p>Hi, in December of 2005 I met a person with a considerable amount to invest, after several meetings and explaining to him different options , he invested 25% in several bank preferred stocks, 25%REIT. The other 50% was invested in cd&#39;s and savings accounts. Shortly after I left the bd for other venture however I still retain my Finra registration. In 2008 the banks who issue the preferred stocks were taken over by the FDIC during the financial collapse.</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-issues/statute-limitations-1" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-issues/statute-limitations-1#comments Legal and Compiance Issues Wed, 01 Jan 2014 16:21:22 +0000 464001 at http://wealthmanagement.com U-5 http://wealthmanagement.com/forums/legal-issues/u-5-0 <div class="node-body forum-body"><p>Does anyone know if you can get something removed or at the least comment on something that will be uploaded to CRD. A former client with my former firm wrote a letter complaining about an annuity 8 years after he purchased it and after he surrendered it. My former firm did not report it to Finra because there were no damages and the client asked for nothing. They had to upload it due to a Finra audit. I have had no disclosures in close to 30 years in the biz.</p> </div><div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/forums/legal-issues/u-5-0" target="_blank">read more</a></p> http://wealthmanagement.com/forums/legal-issues/u-5-0#comments Legal and Compiance Issues Tue, 26 Nov 2013 23:22:06 +0000 441081 at http://wealthmanagement.com