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.
You know that your industry has a problem — a serious trust issue — when a New York Times columnist today sums up the case against financial advisor Matthew Weitzman thusly: “So most readers of this newspaper could be victims in...
When the auction rate securities market froze up in February 2008, angry clients blamed their financial advisors; financial advisors blamed their firms. Today, the SEC announced finalized settlements with Bank of America, RBC Capital Markets and...
Hedgie Gets $62M Fine: Michael Lauer, head of Lancer management Group and Lancer Management Group II, two Connecticut-based hedge funds, was ordered on May 14 to fork over $62 million within 15 days as a result of being found liable on SEC fraud...
A veteran independent advisor, Joe Ventura needs junior associates with sufficient get-up-and-go to help attract new business. Trouble is, he's having a tough time finding them. As usual, we turned to our panel of experts: Hellen Davis, president...
I 'm not saying that FINRA is seeing Communists under every bed, but lately, our regulator is sure seeing a lot of Reds as in red flags. Consider these two recent disciplinary actions. Waving Red Flags Registered Principal Robert Anthony Bellia Jr...
The Obama Administration hasn't revealed its plans for overhauling financial regulation, but one proposal is getting a lot of attention the creation of a new agency to oversee consumer financial products a job currently shared by the Fed, the SEC...
Almost two years after their firm imploded, 16 brokers from Brookstreet Securities may have come to justice. The SEC today charged 10 brokers from the now defunct firm with fraud for marketing risky mortgage-backed derivatives as conservative...
Surprise exams and reviews by third party accountants: These are the new measures the SEC proposed on Thursday to combat ponzi schemes like the one Bernie Madoff pulled off last December. Ponzi schemes have been piling up over the past several...