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.
On April 28, 2003, the SEC, the NASD, the NYSE and various states announced a $1.4-billion landmark settlement with 10 of Wall Street's largest broker/dealers for failing to provide independent and unbiased research. The day after the announcement...
The proposed FINRA rule would change current practice-which renders arbitrations a virtual black box in which the arbitrators need not explain how they decide a case.
In July 2007, his firm, Bear Stearns, announced that two of its flagship hedge funds had collapsed. Not surprisingly, clients weren't too happy about that. Many of Sharon's clients contacted him to express grievances about their losses, and...
Johnne Syverson, co-founder of RIA firm Syverson Strege & Company, in West Des Moines, Iowa, has been outsourcing money-manager selection and portfolio construction to SEI since 1995. The firm, which manages $300 million in assets, has three CFAs...
Below is the transcript of an affidavit from a case in which Bear Stearns attempted to impose a temporary restraining order on departed broker Doug Sharon. Sharon left for Morgan Stanley on March 17 the day after J.P. Morgan made a deal to buy the...
New York City's Independent Budget Office estimates that the city could lose over 20,000 jobs in the financial sector over the next two years as the mortgage credit crisis squeezes Wall Street profits. New York Stock Exchange member firms that...
Are closed-end fund preferred-auction securities safe? We consider CFPs to be the conservative's conservative security. Defaults are even rarer than failed auctions. We are comfortable with the safety of auction securities from closed-end funds...
RegentAtlantic Capital was ahead of the game. In 1996, the fee-only RIA in Chatham, N.J., went paperless a move that put it a decade ahead of its peers. RegentAtlantic manages $1.8 billion in assets for about 900 clients, and when the firm moved...
Drinking and driving is a very bad idea for a lot of reasons. But did you know how bad it can be for your job? If you have between two and five prior DUI misdemeanor convictions within three to twelve years, thirty-seven states will charge the...
