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.
Protecting elderly investors is high on the priority list of the SEC, judging from speeches and notices to members. And it made it clear today firms that tolerate brokers who exploit elderly clients will pay.
The fund industry doesn't have a pricing crisis yet. But if it doesn't take some action, it will. Over the past several years, individual firms have taken a few stabs at creating more consumer-friendly pricing slashing 12b-1 fees on certain shares...
Brookstreet reps that had to flee their firm as it collapsed under the weight of millions of dollars in margin calls are still wondering when or if they'll see their last paycheck. Oh, and then there's the matter of that unpaid hotel bill...
Most of the time when you acquire or buy a business, you place your bets and take your chances (caveat emptor, as they say). But that's not the way it works on Wall Street. If you're not careful about what you buy, you could wind up with the...
Broker/Dealer management loves separately managed accounts. Individual financial advisors love separately managed accounts. By using outside asset managers to pick stocks, the theory goes, b/ds and their reps are able to concentrate on gathering...
That's Why They Call It Prison, Frank Frank Gruttadauria was sent back to prison in August after he apparently went for a walk right out the front door of the facility where he's serving a seven-year sentence for stealing $115 million from clients...
With a little over one month before its maiden Board of Governors election, the new industry self-regulator FINRA faces its boldest challenge yet not only to its own nominees for the board, but also to its own integrity. The Financial Industry...
When a Portand, ORE.-based independent rep. recently took detailed client information with her to her new broker/dealer, she had no idea that she was breaking the law. With her current b/d on the verge of being bought out by a much larger firm...
Q: On a periodic basis, I prepare appraisals of my clients' accounts. Some of my clients have expressed interest in continuing to receive these appraisals, others have told me that they don't review them, and a few have told me that they would...
Blame Frank Gruttadauria. A little over one year after NASD's new supervisory control rules (3012 and 3013) took effect, broker/dealers are tightening the screws on the way they supervise their brokers and advisors. Some firms have implemented...