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.
The SEC voted today to propose changes to the structure of the Form ADV, the disclosure document that all investment advisers must complete. Instead of the current online check-the-box format, investment advisers would need to create a narrative...
Acting as Rocky Mountain Securities & Investments Inc.'s (RMSI) President, Director, Registered Financial and Operations Principal (FINOP), and Compliance Officer, Stephen J. Horning was a jack-of-all-trades unfortunately, he appeared not to be a...
What to do with the securities industry's Depression-era regulations that have investors confused over the difference between a registered investment advisor and a registered rep? After more than a year of collecting and analyzing data, the much...
Too Much Volume: The Financial Industry Regulatory Authority (FINRA) fined 19 broker/dealers in January a total of $2.8 million for substantially overstating their advertised trade volume to three private service providers. These service providers...
I was watching a TV documentary recently about a middle-aged man who was preparing to swim the English Channel. A reporter asked him why he had chosen to undertake this particular challenge especially since the man, a popular TV comedian, was not...
Depending upon who you listen to, we are either in a recession, or one is gathering on the horizon. (The Fed's Beige Book says no recession just slower growth.) Either way, it takes a brave investor to start taking stakes in high-yield bond funds...
Apparently, some people still think it’s far too easy for brokers to wipe their records clean, particularly where customer dispute information is concerned. A story on SmartMoney
The SEC released the results of the RAND study today, which examined two issues: how broker/dealers and investment advisors market and provide products and services to investors, and how investors understand the differences between investment...
In March 2003, NASD received a customer complaint letter accusing registered representative Morton Bruce Erenstein of misrepresenting investments, recommending unsuitable transactions and converting $10,000 of the customer's investment funds...
Not The Glengarry Leads: In December, the SEC charged former San Francisco-based stockbroker Sidney Mondschein with securities fraud and regulatory violations. Mondschein was allegedly selling his clients' personal information many of them elderly...