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 securities industry’s biggest lobby held its annual meeting today, and, as usual, congratulated itself on the great job the industry has been doing in raising capital for business
The subprime debt market blowup has had very different effects on Wall Street firms Goldman Sachs and Merrill Lynch. Goldman earnings shined in the third quarter, and Merrill earnings stunk. But according to news reports
ARE YOU CHARGING ENOUGH? That's hard to say. These days, discounting runs rampant in the financial-advisory industry: Firms allow giant haircuts on commissions, wrap-account fees and even fully waived mutual fund loads. Meanwhile, fees on assets...
It's All In The Name: The SEC recently charged Robert Ray White Samples, principal of Pot O' Gold Financial Services in Denver, Colo., with misappropriating more than $1 million from 31 investors through two fraudulent investment schemes. The...
Q: I provide performance reports on the accounts of some of my selected clients to prospective clients. Any information by which a client could be identified is redacted from the performance reports. When I mentioned this to a rep who works at...
From September 1999 until January 2005, Salvatore F. Sodano was the chairman and CEO of the American Stock Exchange (AMEX), a quasi-governmental, self-regulatory organization (SRO), which was a subsidiary of the NASD from 1998 through December...
Wall Street Breathed a Sigh of Relief when Eliot Spitzer moved into the governor's mansion in Albany. Word was that Andrew Cuomo, New York's newly elected attorney general, had other fish to fry. And, sure enough, he went on to make headlines with...
The Securities Industry and Financial Markets Association released a “white paper” today about how well the mandatory arbitration system works. The system, you’ll recall, was established 20 years ago and forces customers to...
Ameriprise Financial Services has long been accused of possessing a culture that’s more concerned with sales commissions than compliance. The latest allegations against the company from the New Hampshire Bureau of Securities Regulation...
The SEC has filed a complaint against a former LPL rep and branch manager, who, the SEC says, had been engaging in one of the oldest broker tricks in the book: Stealing his clients money.