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.
Independent broker/dealer American Beacon Partners was shut down in May by its parent holding company Beacon Acquisition Partners (BAP), which then conducted a mass transfer of the IBD’s 90 reps to another of its subsidiaries, Allied Beacon.
Raymond James on Thursday agreed to a multi-state settlement that will require the firm to buy back $300 million in auction rate securities (ARS) it sold to clients prior to the collapse of the ARS market in February of 2008...
Morgan Keegan may soon be for sale after agreeing to a $210 million settlement with federal, state and industry regulators over issues related to subprime mortgage-backed securities.
The first domino in this cascade of disaster fell on Sept. 17, 2008, when an unidentified Merrill Lynch registered representative received an email customer complaint. It said that the representative had entered an unauthorized order for Fannie...
Independent broker/dealer Alternative Wealth Strategies in Cherry Hill, N.J., has gone belly up, according to Financial Industry Regulatory Authority documents. The firm’s BrokerCheck report says the firm’s membership was suspended at...