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.
Mark DeCambre and Kaja Whitehouse published a story today in the New York Post titled: “Ex-SEC Boss: Not My Fault,” which opened a window onto the thoughts of those charged with regulating Wall Street.
Today the SEC resolved charges against Citi and UBS alleging that the two firms misled investors about liquidity risks related to auction-rate securities.
Head Exam, More Delays For Jail-Bound Hedgie: After faking his suicide and going on the lam for 23 days to avoid a 20-year jail sentence for swindling investors out of $350 million, former Bayou hedge fund manager, Samuel Israel III, is dodging...
Recent weeks have been tough at my law firm. I hesitate to answer my phone. One client sobs to me about the loss of his savings, his job and his career. Another caller fears the broker/dealer he runs is one net capital computation away from...
Registered Rep.: You say SEC Chairman Christopher Cox is being treated unfairly. Why? Philip Moyer: Companies need to report in an electronic data format that can be rapidly analyzed by computer systems designed for both investors and regulators...
The U.S. Government’s investigation of cross-border business by UBS and alleged tax evasion by some of the firm’s US clients has resulted in an indictment of Raoul Weil, Chairman and CEO of UBS Global Wealth Management and Business...
Next year, no matter how preoccupied the federal government is and no matter who is president, a new federal estate tax law is quite likely to be adopted. If it isn't, on Jan. 1, 2010, the U.S. federal estate tax will disappear at least for...
Many clients think the foreign trust tax and reporting rules can be circumvented by using non-U.S. persons as nominees. But the United States has rules to prevent potential abuse of tax law by U.S. persons who receive indirect transfers from...
Staying on top of new industry rules and regulations is one of the greatest challenges facing registered reps and their supervisors these days. Overnight, long-established practices become violations because of an incomprehensible subparagraph to...
Where are we now? Good question. It's a global rout, with worldwide governments pumping $3 trillion of rescue capital into the financial system. Will it work? We wanted to quantify the situation with a view to divining how much remaining exposure...