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.
Stanley Brooks was living the dream. With a $16,000 investment in 1990, Brooks built Brookstreet Securities of Irvine, Calif., into a $150 million revenue firm placing it among the top 25 independent broker/dealers. By 2007, the firm had amassed ...
It is hard to watch television these days and not come across some courtroom drama in which the suspect proclaims: I take the Fifth! Oh, no! The detectives and prosecutors pound the desk and punch the wall. For starters, let's read the pertinent...
NASD Says No to Sharing In the first case of its kind, according to an NASD release, Securities America has been charged with funneling directed brokerage payments to a former broker with the firm, Michael Bullock, and misleading union retirement...
Creating lists such as this can be a notoriously capricious business. For starters, why only 10 people? Good question. But it forces a silly answer: The number 10 is a good number simple as that. Yes, it's somewhat arbitrary, but the object is to...
The securities industry is fighting tooth and nail to save 12b-1 fees. Exactly one month after the June 19 SEC roundtable convened to discuss the fate of 12b-1 fees, the securities industry’s lobby group, the Securities Industry and...
Seems like NASD and NYSE regulation can’t catch a break. First it was Muslims, now it’s the Financial Planning Association that is unhappy with the merged regulatory bodies’ potential new name.
My client has money with me, refers clients to me, and quite frankly, is a great friend of mine. His wife has given me a million to invest for her. Only, she has kept this money separate from him; it was an inheritance from her mother. He keeps...
Citigroup Dinged $15 Million: The NASD settled with Citigroup Global Markets to the tune of $15.2 million for charges related to misleading documents and inadequate disclosure stemming from retirement seminars and meetings with BellSouth employees...
Are you an advisor or a broker? Yes, we know, you're a financial advisor, or a wealth manager or whatever fancy term you use to win clients and gather assets. And that's just the problem: Many Series 7 holders out there are positioning themselves...
