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.
If you want to know what made Madoff do it, you can try playing someone like him in a new game for cell phones called, predictably, Made Off. The game allows you to rob, cheat and steal from innocent investors to earn cellupoints (instead of cash)...
RIAs have a lot on their plates. They’ve seen their assets drop significantly over the last year, their clients are demanding more of their time, revenues are taking a hit and on top of it all, there’s potential for major regulatory...
More than nine months after one of the oldest and largest money market funds suffered such severe redemptions that the net asset value of its shares fell below $1, the SEC is proposing structural and regulatory changes for money markets so it...
The SEC today indicted four individuals for helping Bernie Madoff in his colossal Ponzi scheme. One of the individuals was a registered rep and a second was an investment advisor. If the allegations are true, the men and one woman are quite wicked...
Allen Stanford, the flamboyant 59-year-old billionaire CEO of the Stanford Group Companies was indicted Friday on charges of conspiracy to commit securities, mail and wire fraud. Six other individuals were also indicted, including the chief...
Among other measures, the Obama administration proposed today that the Securities and Exchange Commission (SEC) require that broker-dealers offering investment advice be held to the fiduciary standard rather than the suitability standard. The SEC...
Four new members were elected to the FINRA Board o Governors today: LPL Chairman and CEO, Mark Casady, took over the Independent Dealer/Insurance Affiliate seat from John Simmers, former Chairman and CEO of ING Advisors Network, who stepped down...
You know that your industry has a problem — a serious trust issue — when a New York Times columnist today sums up the case against financial advisor Matthew Weitzman thusly: “So most readers of this newspaper could be victims in...
When the auction rate securities market froze up in February 2008, angry clients blamed their financial advisors; financial advisors blamed their firms. Today, the SEC announced finalized settlements with Bank of America, RBC Capital Markets and...