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.
Registered Rep. spoke with Mark Goldberg (former CEO of Royal Alliance Associates) about his new endeavor, Private Wealth Management, which provides independent wealth management firms with capital to help them grow. Registered Rep.: What does...
Broker-dealers got the breathing room they hoped for on Monday with regards to complying with the recent court ruling that outlaws fee-based brokerage accounts. A federal court granted an SEC-requested 120 day stay, until October 1st, for firms to...
The sub-prime lending meltdown could be spreading. It’s one thing for Bear Stearns to have to arrange a $3.2 billion bailout of one of its hedge funds, but, for the brokerage industry, the problem just hit closer to home...
Mary Schapiro unveiled yesterday the new name it has selected for the new NASD/NYSE regulatory combo: SIRA, which stands for Securities Industry Regulatory Authority, but sounds a little bit more like some ugly winged creature out of Dungeons &...
With some one million odd fee-based brokerage accounts holding $300 billion in assets now legally considered advisory accounts, brokerage firms face the daunting task of deciding (quickly) what to do next.
Misleading the Military: NASD fined two Fidelity b/ds $400,000 for preparing and distributing misleading sales literature that promoted Fidelity's Destiny I and II Systematic Investment Plans, which were primarily sold to U.S. military personnel.
In his new role as New York governor, Eliot Spitzer is joining forces with those he used to terrorize—Wall Street chief executives—to modernize financial services regulation in the state, the Financial Times reports. Spitzer is forming...
This week Massachusetts fired a round in the new regulatory war waged by state securities regulators against the use of senior designations to commit senior fraud. The Massachusetts State Securities Division adopted the nation’s first...
The SEC isn’t going to fight the March 30 D.C. Court of Appeals ruling that vacated Rule 202, the broker/dealer exemption (a.k.a. the Merrill Lynch rule)—they’re just asking for a little mercy for firms that have to adjust. The...
