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 war in Iraq has cost Elton Johnson just about everything. Johnson, owner and operator of Amerivet Securities, a small broker/dealer in Inglewood, Calif., is a major in the U.S. Army Reserve who has been on active duty since Dec. 2001. He...
Hydie Sumner is on the cusp of winning a battle many think she was crazy for waging. Sumner, a former broker who successfully sued Merrill Lynch for sexual discrimination, has been trying for seven years to reacquire her job at the firm. Now an...
Henry Ford famously offered to deliver his Model T in any color, so long as it was black. Customers in the securities industry have roughly the same amount of choice when it comes to settling disputes it's arbitration or nothing. This is...
ON ITS WEB SITE, THE NASD SAYS THE HEART OF ITS MISSION IS TO ENFORCE SECURITIES LAWS IN A VIGOROUS, FAIR AND EFFECTIVE MANNER. ASK ANY BROKER/DEALER EXECUTIVE OR COMPLIANCE CHIEF AND THEY WOULD LIKELY GROAN, VIGOROUS, YES, BUT FAIR? Executives of...
IT TOOK SOME TIME, but the brokerage industry finally is coming to terms with the death in the family. In this case, the dear departed is a way of operating that is now gone for good. Like any mourner, the industry has collectively gone through...
Contesting arbitrations is often a smart move especially for reps who believe they were unjustly accused or that the settlement demanded by the customer is excessive. At the same time, the case doesn't necessarily end with the issuance of an award...
Q: I just opened an account for a new client who said he had lost a lot of money with another firm. The ACAT (automated customer account transfer) delivered securities purchased at the earlier firm. In reviewing the client's monthly statements it...
Who would have thought that a piece of regulatory paperwork could rank among an advisor's best friends? But it's true. The piece of paperwork in question is the client account form. It's important because the financial services industry relies on...
The House of Representatives has approved a bill that would stiffen rules governing the way mutual funds, high-cost loans and other financial products are marketed to military personnel. The House bill, called the Military Personnel Financial...
When regulators began attacking rapid trading of mutual funds, many funds rushed to slap on redemption fees. The SEC encouraged the practice, proposing last year that anyone who sells a fund within five days of purchasing it should pay a 2 percent...
