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.
Are Wall Street financial advisors ready to be held to a fiduciary standard in all of their dealings with clients? Maybe they should be. In a Tuesday testimony about regulatory reform before the Senate Committee on banking, Housing and Urban...
We really don’t want to take sides, but we can’t help but notice that our long-time legal columnist Bill Singer is throwing down the gauntlet again. He’s challenging FINRA—for a meeting. You see, Bill Singer has a history...
The SEC’s civil fraud charges against R. Allen Stanford are having nasty repercussions for Stanford Financial Group financial advisors and clients not implicated in any wrongdoing. The SEC has frozen client accounts of Stanford Financial...
The market skidded into a ditch this morning, with the Dow Jones Industrial Average opening below 7,000 following a global selloff overnight in Japan and Europe. Mid-morning it continued to slide, down around 3 percent, or 220 points, to 6858. It...
Year in and year out I warn you folks to steer clear of the same catalog of violations and, just as surely, many of you take that as a challenge to try to come up with new ways of committing the same old tricks (and getting away with it). Alas...
A new rule that took effect in January stipulates that there are three reasons—and three reasons only—to grant expungement of client complaints from your U4
Ken Lewis had a date with New York Attorney General, Andrew Cuomo, today. He was called to testify on what he knew about the $3.6 billion in bonuses paid out to Merrill Lynch employees late last year. The bonuses were paid just as Merrill was...
Whether it’s redemption requests or the fact that the regulatory staff is working overtime (18 hour days in some offices we hear ) since the Madoff bust or some combination of both, the capital market cops are putting up some big charges of...
Exactly how Tremont Group Holdings plans to defend itself against claims that it was “reckless” with client money that was invested in Madoff funds is something those affected by the Madoff scandal—and really, anyone interested...