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.
Strippers, Guns N' Money: The SEC filed a civil action recently against five unregistered Florida brokers who were operating a pump-and-dump scheme out of the offices of SCL Ventures. The complaint alleges that from January 2004 to May 2004, the...
Top advisors know that there is an uneasy balance between helping their clients and protecting themselves. The reality is that providing a high level of personal service and advice to other people is very difficult and demanding. My father, a...
The SEC voted in February to propose changes to the structure of the Form ADV, the disclosure document that all investment advisors must complete. Instead of the current online check-the-box format, investment advisors would be required to create...
One more time: Retail investors your clients are confused about the definition of a financial advisor. That is, they don't understand the difference between a Series 7 registered representative and a Series 65 investment advisor representative...
Is arbitration fair? Do retail investors get a fair shake in arbitration hearings, considering one member of the three-member panel is an industry person? The argument has been ongoing, with the most recent salvo fired off by a new academic study...
The SEC voted today to propose changes to the structure of the Form ADV, the disclosure document that all investment advisers must complete. Instead of the current online check-the-box format, investment advisers would need to create a narrative...
Acting as Rocky Mountain Securities & Investments Inc.'s (RMSI) President, Director, Registered Financial and Operations Principal (FINOP), and Compliance Officer, Stephen J. Horning was a jack-of-all-trades unfortunately, he appeared not to be a...
What to do with the securities industry's Depression-era regulations that have investors confused over the difference between a registered investment advisor and a registered rep? After more than a year of collecting and analyzing data, the much...
Too Much Volume: The Financial Industry Regulatory Authority (FINRA) fined 19 broker/dealers in January a total of $2.8 million for substantially overstating their advertised trade volume to three private service providers. These service providers...
