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.
With the Madoff and Stanford scandals still relatively fresh in investor memories, a handful of companies offering free background checks and rating services.
The National Association of Independent Broker/Dealers (NAIBD) is working to prevent proposed legislation in Congress from increasing the auditing costs of small independent broker/dealers. These could rise to $100,000, the group says, and might...
If anyone was hoping to catch a break on the regulatory front now that the market environment has eased, they’re in for a surprise. Speaking at this morning in New York at SIFMA’s annual meeting, Securities and Exchange Commission...
The Financial Services Institute, a trade group for small independent b/ds, attacked current government proposals to make the fiduciary standard of care a universal one for all financial advisors—not just RIA investment advisors, but b/d...
The Financial Industry Regulatory Authority (FINRA) issued an 80 page report on Friday that includes a review of its failings in the Madoff and Stanford scandals. A release about the report reads as follows:
When an advisor leaves a wirehouse before his term on his forgivable loan is up, the firm often demands he pay back the balance at once. Mark Thierman is behind a new class action lawsuit that could change that.
Mark Thierman is at it again. We always thought he was a clever labor lawyer when we first spoke to him back in the spring of 2006, when we got word that he had dusted off some old Depression-era law to force brokerages to pay their reps overtime...
Perhaps the single most common lament I hear from my stockbroker clients is They can't do that to mecan they? And more often than not, my reply is They can, they will, and they have. In that spirit, let me present you with some recent Financial...
The Securities Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) announced Wednesday that they expect to release a report within two weeks that explains the regulatory responsibilities of each agency and recommends...
The SEC charged former GunnAllen financial advisor Frank Bluestein with fraud, alleging that he lured elderly investors into a $250 million Ponzi scheme conducted through E-M Management Co. According to the complaint, over a five-year period...