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.
The SEC today indicted four individuals for helping Bernie Madoff in his colossal Ponzi scheme. One of the individuals was a registered rep and a second was an investment advisor. If the allegations are true, the men and one woman are quite wicked...
Allen Stanford, the flamboyant 59-year-old billionaire CEO of the Stanford Group Companies was indicted Friday on charges of conspiracy to commit securities, mail and wire fraud. Six other individuals were also indicted, including the chief...
Among other measures, the Obama administration proposed today that the Securities and Exchange Commission (SEC) require that broker-dealers offering investment advice be held to the fiduciary standard rather than the suitability standard. The SEC...
Four new members were elected to the FINRA Board o Governors today: LPL Chairman and CEO, Mark Casady, took over the Independent Dealer/Insurance Affiliate seat from John Simmers, former Chairman and CEO of ING Advisors Network, who stepped down...
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...
