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.
Q: In a securities arbitration by a brokerage client, the client's former broker was not named as a party nor mentioned in the claim. Attorneys for the parties exchanged witness lists 20 days before the first hearing, as required, but the lists...
Reps now have another designation to pin to their names, and it couldn't come at a better time. As the U.S. population continues to age, the American College of Bryn Mawr, Pa., has unveiled its newest specialization: Chartered Advisor for Senior...
In April, the NASD instituted a rule meant to prevent stockbrokers from, in effect, buying their way out of client complaints and a dinged Form U4 by settling, out-of-court, with their clients for money. But already stockbrokers (with the help of...
MFS Investment Management and Morgan Stanley's announcements in March that they will no longer pay soft dollars to brokerages for third-party research might be the snowflake that causes an avalanche. Many observers believe the announcements signal...
The long parade of securities scandals has convinced broker/dealers to apply some prophylactic measures to their fee-based accounts. Registered reps at the major b/ds say their managements have been heavily scrutinizing whether certain accounts...
Much of the noise in the broker/dealer industry lately is coming from the halls of Washington rather than from the trading desks all over the country. Ask an average registered rep what the most time-consuming portion of his day is, and more often...
Martha Stewart apparently is not alone in her creative approach to document management. During a recent NASD examination, a broker/dealer could not locate originals of every new account form requested by the regulator, so it set about preparing...
Q: I work for three credit unions that offer investment services to members. I replaced a man who had been here for years and was fired for selling away. He had signed a contract with a poorly rated (Best B-/S&P BB) annuity company, was holding...
Get ready, brokers All of the hand wringing during the last two years over faulty research and enhanced disclosure will seem like grade school compared with the newest cannons trained on mutual funds. New SEC proposals could drastically change...
ANASD rule change destined to take effect later this year would have the unintended consequence of making it harder for investors to obtain the redress they seek against brokers. Indeed, proposed Rule 2130, which would prohibit the expungement of...
