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.
Eva Yee May Sung forged the signatures of public customers and a branch manager on forms authorizing Sung to become the new representative of certain brokerage accounts. OK, now, no peeking what sanction do you think the NASD imposed on Sung when...
Any rep or branch office manager who has been disciplined by the NASD can attest to the organization's zealous dedication to enforcement. However, a recent SEC report shows that the NASD is far less enthusiastic about policing itself despite the...
One of the few aspects of the securities industry to escape significant regulatory intervention so far is the sale of variable annuity products. But that is about to change. The NASD, responding to a complaint filed by the Massachusetts Securities...
Arbitrations are designed to be the final word in disputes between investors and the firms and reps that serve them. Thus, it is not surprising that when an NASD arbitration panel hands down a ruling, it measures its words carefully. Very...
An NASD arbitration panel ordered Merrill Lynch to pay more than $1 million to investors Gary and Lisa Friedman last month for hiding conflicts of interest and issuing fraudulent research. According to the award, the panel found Merrill guilty of...
If you're a fiduciary and don't want to get sued and fined pay close attention to litigation expert Dominic J. Campisi. Campisi, a partner in the San Francisco law firm of Evans Latham and Campisi, has been defending fiduciaries for about three...
When the Wall Street research scandal drew to its close last July as the SEC exacted a global settlement from the top investment banks many reps wondered how it would change their lives. In addition to coughing up a total of $875 million in fines...
Q: I joined my current firm in October 2003 and signed a contract that stipulated ticket charges would be $15. After only six months, the firm raised ticket charges to $25, and after another three months to $35. Because I complained and showed the...
A.G. Edwards is not the first brokerage firm to encourage its brokers to continue their educations, but the firm has come up with a novel twist: Its continuing education classes now qualify for college credits. Offered through the A.G. Edwards...