Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
Many IBDs have been going under due to large liabilities they face related to alternative investments that have gone bust, including Medical Capital, Provident and DBSI. Meadowbrook is the latest to join the list of imploding firms. Other IBDs...
SIFMA sent a letter to the SEC Thursday that recommends a new fiduciary standard that would be more rules-based and that would depend on individual client contracts for its application.
Under an SEC order issued today, it will require considerably more wealth or assets for an investor to qualify to pay an investment adviser performance fees. The higher thresholds, mandated by Dodd-Frank reform, are meant to take inflation into...
When broker-dealers shut their doors, a lot of people suffer: home office staff, advisors, clients. The good news is, new technology and today’s 24-hour media cycle have put advisors in a much better position to sniff out trouble and to know...
With small independent broker/dealers blowing up left and right, it’s become that much more important to know what kind of compliance regime your firm has and who your colleagues are.
Independent broker/dealer American Beacon Partners was shut down in May by its parent holding company Beacon Acquisition Partners (BAP), which then conducted a mass transfer of the IBD’s 90 reps to another of its subsidiaries, Allied Beacon.
Raymond James on Thursday agreed to a multi-state settlement that will require the firm to buy back $300 million in auction rate securities (ARS) it sold to clients prior to the collapse of the ARS market in February of 2008...
