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.
A couple of law students from Oxford, Miss., backed by vocal investor advocate Mercer Bullard, have ambitious plans to create an SRO (self-regulatory organization) for investment advisers. Their group would rival FINRA, the SRO for broker/dealers...
Wealth managers working for banks are grappling with the fallout of last year’s Dodd-Frank Wall Street Reform and Consumer Protection Act, according to top banking officials speaking at the opening general session of the American Bankers...
On Wednesday, the SEC proposed open-ended rules aimed at reigning in incentive comp. The rules, which stem from Section 956 of the Dodd-Frank Act, would prohibit incentive-based compensation arrangements that encourage “inappropriate”...
When The Cat's Away, Mice Will Play TD Ameritrade settled with the Securities and Exchange Commission over an investigation into its supervision of reps who sold shares of the Reserve Yield Plus Fund. TDA agreed to pay $0.012 per share, or $10...
It was a good quarter for Ameriprise’s Advice & Wealth Management segment. It posted total revenue of $1.03 billion, a record, up 15 percent year over year. Pre-tax operating earnings of $90 million were up 157 percent from a year earlier.
On Dec. 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the Act). Among other things, the Act makes changes in the tax law for calendar years 2011 and 2012 that: (1)...
During 2010, Internal Revenue Code Section 26641 and Section 901 of the Economic Growth and Tax Relief Reconciliation Act of 2001 (the 2001 Act) caused considerable confusion as to how the generation-skipping transfer (GST) tax would be applied in...
