The argument some RIAs are making—that the PPP loan is a business loan, no different than any other, and comes with risk, and is not bailout money—just doesn't wash.

The new legislation will lengthen the amount of time in which businesses can spend the loan, as well as the amount of time in which they have to pay the loan back if it is not forgivable.

According to FINRA, Merrill Lynch failed to properly supervise its thundering herd so that clients received sales charge waivers and fee rebates, impacting 13,000 accounts.

Many Reg BI tools from vendors are coming too late to meet the end-of-month deadline for compliance, according to a SIFMA panel.

After the Office of Management and Budget reviews the proposal, it will be published and subject to a comment period, leaving the Trump administration with a tight window to implement it before the presidential election.

New features are meant to improve the efficiency of advertising reviews for compliance and marketing teams at broker/dealers and RIAs.

“We are playing a ton of golf with our clients these days since it allows us to socially distance from our clients while also spending time with them.”