Regulation & Compliance http://wealthmanagement.com/taxonomy/term/6625/more en Leon Cooperman's Omega Advisors Gets Federal Subpoenas http://wealthmanagement.com/regulation-compliance/leon-coopermans-omega-advisors-gets-federal-subpoenas <div class="node-body article-body">Leon Cooperman's Omega Advisors Inc told clients earlier this week that it has been subpoenaed by federal prosecutors and regulators seeking information about its trading activities in certain securities, according to a letter seen by Reuters on Thursday.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/regulation-compliance/leon-coopermans-omega-advisors-gets-federal-subpoenas" target="_blank">read more</a></p> http://wealthmanagement.com/regulation-compliance/leon-coopermans-omega-advisors-gets-federal-subpoenas#comments Industry Legal Regulation & Compliance Thu, 26 Mar 2015 19:00:00 +0000 823171 at http://wealthmanagement.com <p>Leon Cooperman</p> Republicans Question Fairness of SEC In-House Judgments http://wealthmanagement.com/legal/republicans-question-fairness-sec-house-judgments <div class="node-body article-body">The Securities Exchange Commission’s increased used of internal administrative court came under fire Thursday, as Republications raised questions about this venue’s ability to maintain due process protections and objectivity.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/republicans-question-fairness-sec-house-judgments" target="_blank">read more</a></p> http://wealthmanagement.com/legal/republicans-question-fairness-sec-house-judgments#comments Industry Legal Regulation & Compliance Thu, 19 Mar 2015 19:29:00 +0000 819191 at http://wealthmanagement.com <p>SEC Head of Enforcement Andrew Ceresney came under fire regarding administrative proceedings at a&nbsp;&nbsp;the House Financial Services Committee&nbsp;hearing on Thursday.</p> Fiduciary Roundtable: Where Is the Industry Heading? http://wealthmanagement.com/industry/fiduciary-roundtable-where-industry-heading <div class="node-body article-body">Two fiduciary experts, Knut Rostad and Brian Hamburger, discuss the recent regulatory shifts, the brokerage industry's response and the ultimate impact on the industry of an expanding fiduciary standard. </div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/fiduciary-roundtable-where-industry-heading" target="_blank">read more</a></p> http://wealthmanagement.com/industry/fiduciary-roundtable-where-industry-heading#comments Industry Legal Wealth Management Madness Regulation & Compliance Wed, 18 Mar 2015 18:05:00 +0000 817831 at http://wealthmanagement.com <p>Brian Hamburger, left, and Knut Rostad&nbsp;are the two remaining contenders&nbsp;in the Thought Leaders category of the <a href="http://wealthmanagement.com/wealth-management-madness-2015-bracket">Wealth Management Madness 2015 </a>bracket tournament.</p> FINRA Going After Firms For Unreported Judgments, Liens http://wealthmanagement.com/regulation-compliance/finra-going-after-firms-unreported-judgments-liens <div class="node-body article-body">In its latest effort to authenticate its broker records database, the Financial Industry Regulatory Authority is cracking down on firms who have brokers with undisclosed liens and judgments. </div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/regulation-compliance/finra-going-after-firms-unreported-judgments-liens" target="_blank">read more</a></p> http://wealthmanagement.com/regulation-compliance/finra-going-after-firms-unreported-judgments-liens#comments IBDs Legal Regulation & Compliance Mon, 16 Mar 2015 09:14:00 +0000 814321 at http://wealthmanagement.com U.S. Consumer Watchdog Warns on Arbitration, Could Issue New Rules http://wealthmanagement.com/regulation-compliance/us-consumer-watchdog-warns-arbitration-could-issue-new-rules <div class="field-byline"> Reuters </div> <div class="node-body article-body">The top U.S. consumer watchdog said on Tuesday that arbitration clauses used by companies to dodge lawsuits take away consumers' rights to sue in courts and do not provide much relief to them.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/regulation-compliance/us-consumer-watchdog-warns-arbitration-could-issue-new-rules" target="_blank">read more</a></p> http://wealthmanagement.com/regulation-compliance/us-consumer-watchdog-warns-arbitration-could-issue-new-rules#comments Industry Regulation & Compliance Tue, 10 Mar 2015 19:42:00 +0000 809281 at http://wealthmanagement.com <p>CFPB President Richard Cordray says his agency found that tens of millions of consumers were under arbitration agreements, but few knew about them or understood their impact.</p> Copyright Chip Somodevilla, Getty Images Throwing Money at Cybersecurity Not the Answer http://wealthmanagement.com/technology/throwing-money-cybersecurity-not-answer <div class="node-body article-body"><p>With the sheer volume of cyber attacks occurring against financial services firms, it&rsquo;s not enough for RIAs to just spend on technology or an outsourced cybersecurity solution, advisors and firm employees must understand how to use technology and have processes built around it.&nbsp;</p></div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/technology/throwing-money-cybersecurity-not-answer" target="_blank">read more</a></p> http://wealthmanagement.com/technology/throwing-money-cybersecurity-not-answer#comments RIAs Technology Regulation & Compliance Thu, 05 Mar 2015 18:57:00 +0000 801681 at http://wealthmanagement.com RIAs Still Fear FINRA Oversight http://wealthmanagement.com/rias/rias-still-fear-finra-oversight <div class="node-body article-body">Many RIAs still fear FINRA will be the chosen authority to oversee their practices if the SEC moves forward with third-party examiners. </div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/rias/rias-still-fear-finra-oversight" target="_blank">read more</a></p> http://wealthmanagement.com/rias/rias-still-fear-finra-oversight#comments RIAs Regulation & Compliance Thu, 05 Mar 2015 17:52:00 +0000 801651 at http://wealthmanagement.com Obama Struggles with Wall Street to Woo Democrats over Broker Rules http://wealthmanagement.com/news/obama-struggles-wall-street-woo-democrats-over-broker-rules <div class="field-byline"> Reuters </div> <div class="node-body article-body">The Obama administration is battling Wall Street to win the support of dozens of Democrat lawmakers over rules that could rein in brokers who handle trillions of dollars in retirement accounts.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/news/obama-struggles-wall-street-woo-democrats-over-broker-rules" target="_blank">read more</a></p> http://wealthmanagement.com/news/obama-struggles-wall-street-woo-democrats-over-broker-rules#comments Industry News Regulation & Compliance Mon, 02 Mar 2015 16:58:00 +0000 797111 at http://wealthmanagement.com Copyright Pool, Getty Images President Moves Fiduciary Rule Forward http://wealthmanagement.com/industry/president-moves-fiduciary-rule-forward <div class="node-body article-body">President Barack Obama threw his support behind the Department of Labor’s proposed fiduciary rule Monday afternoon, saying new uniform rules are needed to ensure financial advisers always act with their clients' best interest in mind.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/president-moves-fiduciary-rule-forward" target="_blank">read more</a></p> http://wealthmanagement.com/industry/president-moves-fiduciary-rule-forward#comments Industry Regulation & Compliance Mon, 23 Feb 2015 03:54:00 +0000 789791 at http://wealthmanagement.com <p>The proposed rule would require advisors overseeing retirement plans to act under a fiduciary standard, putting client interests ahead of all other considerations when making investment recommendations.</p> Copyright Alex Wong, Getty Images SEC Collects Record $4.1 Billion in Fines in 2014 http://wealthmanagement.com/industry/sec-collects-record-41-billion-fines-2014 <div class="node-body article-body">The U.S. Securities and Exchange Commission had an &quot;unprecedented year&quot; in enforcement actions, both in the number of cases and subject matter, Chair Mary Jo White said Friday.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/sec-collects-record-41-billion-fines-2014" target="_blank">read more</a></p> http://wealthmanagement.com/industry/sec-collects-record-41-billion-fines-2014#comments Industry Regulation & Compliance Fri, 20 Feb 2015 14:38:00 +0000 788321 at http://wealthmanagement.com <p>The SEC&rsquo;s enforcement division brought 755 cases and collected an agency record $4.1 billion in 2014.</p> Copyright Alex Wong, Getty Images