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.
Ameriprise Financial Services has long been accused of possessing a culture that’s more concerned with sales commissions than compliance. The latest allegations against the company from the New Hampshire Bureau of Securities Regulation...
The SEC has filed a complaint against a former LPL rep and branch manager, who, the SEC says, had been engaging in one of the oldest broker tricks in the book: Stealing his clients money.
Brokerage firms can say anything they like on a departing broker's Form U5, even if it's defamatory in nature and untrue. That's because the New York Court of Appeals ruled in Rosenberg v. MetLife Inc. that brokerage firms were entitled to an...
The first annual meeting of the new Financial Industry Regulatory Authority's (FINRA) 23-member board is slated for October 26, 2007, and the regulator recently announced its official slate of seven nominees for its elective seats. Anyone seeking...
Last year, Robert Isbitts, who runs Weston, Fla.-based RIA Emerald Asset Advisors, decided he had to take drastic action. Legal and regulatory compliance issues were spreading his employees thin. Everyone at the firm was responsible for his or her...
Q: Where do you draw the line between what is best for your clients' money, and what is best for your clients in the long run? My manager gets upset with me sometimes when I steer a client away from a 529 that I can manage, to the state 529 plan...
Trader Jett Asked to Pay Up, Again Joe Jett, the young bond trader at Kidder Peabody, who was the central figure in one of Wall Street's most high-profile trading scandals, has been told to pay up to the tune of $8.4 million. Jett, who now runs...
Don't call Mark Beloyan a penny stock tout. Sure, Beloyan speculates in low-priced securities. And, yes, his book is built around trading and finding retail investors who want to make a bet on the shares of companies that are more or less still in...
The Securities Exchange Commission (SEC) charged 38 defendants of stealing more than $12 million in stock loan kickbacks from their Wall Street employers. Basically stock loan traders at Morgan Stanley, A.G. Edwards, Nomura Securities and...
The SEC has thrown a bone to the large brokerage firms. After taking away fee-based brokerage accounts in March, the Commission has eased the requirements of principal trading rules.