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.
Quoting the theme song from M*A*S*H and faking your own death doesn't get you out of a 20-year jail sentence. Someone should probably let hedge fund manager Sam Israel III know.
On Wednesday, an SEC judge ordered NEXT Financial Group to pay a $125,000 penalty and prohibited the independent b/d from using recruiting tactics that violate client privacy laws.
This weekend won’t likely be a relaxing one for UBS executives, private bankers and thousands of wealthy American clients. The New York Times reports today that the firm is under intense pressure from authorities as one of its top private...
A Manhattan Criminal Court ruled yesterday that a hedge fund manager was not seriously injured when a stockbroker threw him off his exercise bike during a spin class at a health club. The stockbroker said, yeah, he threw the hedgie off his bike...
WHEN YOUR FIRM BEGINS TO GROW, YOU HAVE TO HIRE MORE STAFF BUT THAT'S NOT ENOUGH. YOU HAVE TO DEVELOP SOLID PROCESSES TO HELP THEM WORK EFFICIENTLY AND EFFECTIVELY. Systems: John Vance knew he needed them and immediately. Three years ago, Vance, a...
Once upon a time, Ma Bell owned the phones, the U.S. Postal Service delivered all the mail, and for emergencies you sent a Western Union telegram. Then came faxes, email, instant messaging, bulletin boards, chat rooms, blogs, podcasts, WiFi and...
Expensive Bear Suit: Beverly Hills billionaire H. Roger Wang is suing Bear Stearns for allegedly duping him and his wife into buying 150,000 shares of Bear stock in the weeks before its collapse. The total purchase included 100,000 shares bought...
For years, regulators have considered altering the 12b-1 fees imposed on mutual funds. But despite hearings and public debate, no new rules have appeared. Now the SEC seems poised to issue a major proposal that would cap 12b-1 fees on C-shares and...