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.
Let the finger pointing begin. As the mutual fund scandal kicks into high gear, brokers are starting to unveil their plans for fighting regulators' charges of fraud against them. And if the legal documents filed by some former Pru employees are...
In November, Charles Schwab & Co. disclosed instances of late trading and market timing in its Excelsior Funds, operated by its U.S. Trust unit. Not only did the news mark Schwab's first public implication in the mutual fund mess, it also trained...
Bureaucracy that smacks of willful ignorance that's what one would-be tipster (and client of mine) encountered when he tried to anonymously notify regulators of trouble at his broker/dealer. As an attorney who has been practicing securities law...
Some of the knowledge required to acquire Series a 7 flees a rep's brain before the test scores have even been computed a process that takes mere minutes. The rules governing the actions of associated persons (APs) appear to be a case in point. By...
Until recently, there was little danger of confusing SEC filings with anything interesting say a best-selling novel or a hard-hitting newspaper story. In the days before the scandals, plowing through SEC documents, such as 10-Qs, 10-Ks and proxy...
The questions above warrant immediate consideration because there is a very strong likelihood that new Federal legislation is going to be passed that will encourage retirement plan sponsors and their participants to seek the services of investment...
A protracted legal action against Merrill Lynch may finally be seeing the end or at least the beginning of its end in the next few months. Arbitration hearings stemming from the large class-action lawsuit filed against Merrill in 1998 for gender...
The commotion surrounding the salacious e-mails of the equities-research scandal is starting to subside, but that doesn't mean it's safe to forget about them altogether. In fact, at least one important implication went largely unremarked upon and...
The NASD says its core mission is ensuring market integrity and investor confidence goals few in the industry have trouble supporting. Trouble is, in its pursuit of its consumer-protection mission, the NASD often gives short shrift to the equally...