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.
A U.S. District Court judge denied Securities America’s request Friday to bundle several arbitration claims and class action lawsuits into one $21 million settlement agreement related to allegedly fraudulent private placements sold by the...
Securities America will face a federal court judge Friday to decide whether the independent broker/dealer gets preliminary approval for a $21 million settlement agreement related to allegedly fraudulent private placements sold by the company. Firm...
FINRA deemed that an advisor’s tweets about a public company were unbalanced and lacked the necessary disclosure about the “substantial positions” held in the stock by the advisor and her family.
In testimony before Congress Thursday, SEC Chairman Mary Schapiro made a case for an increase in the agency’s funding to $1.407 billion for 2012—describing the progress the SEC has made on internal reforms since she took the job two...
A couple of law students from Oxford, Miss., backed by vocal investor advocate Mercer Bullard, have ambitious plans to create an SRO (self-regulatory organization) for investment advisers. Their group would rival FINRA, the SRO for broker/dealers...
Wealth managers working for banks are grappling with the fallout of last year’s Dodd-Frank Wall Street Reform and Consumer Protection Act, according to top banking officials speaking at the opening general session of the American Bankers...
On Wednesday, the SEC proposed open-ended rules aimed at reigning in incentive comp. The rules, which stem from Section 956 of the Dodd-Frank Act, would prohibit incentive-based compensation arrangements that encourage “inappropriate”...
When The Cat's Away, Mice Will Play TD Ameritrade settled with the Securities and Exchange Commission over an investigation into its supervision of reps who sold shares of the Reserve Yield Plus Fund. TDA agreed to pay $0.012 per share, or $10...