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Congress is considering legislation that would require broker/dealer reps to adhere to the fiduciary standard. That could mean major changes in all areas of operation for firms and advisors
New York Attorney General Andrew Cuomo released a report today on the compensation practices of the banking industry. The title says it all: “No Rhyme or Reason: The ‘Heads I Win, Tails You Lose’ Bank Bonus Culture.”
The SEC’s Investor Advisory Committee, which was formed to give investors a greater voice in the SEC, has “agreed upon an ambitious and wide-ranging agenda.” Or so says a press release issued by the SEC today. For more, please go...
The SEC yesterday charged Nashville-based broker/dealer Morgan Keegan for misleading thousands of investors about the risks of auction rate securities (ARS). Further, the SEC alleges that the firm pushed illiquid auction rate securities on...
It’s an old story, the brouhaha over auction rate securities. But today’s SEC announcement (it settled with TD Ameritrade over ARS) is another reminder: When your brokerage tells you it has dreamed up a new security for you to sell to...
Morgan Keegan & Co., a unit of Regions Financial, Morgan Asset Management and three employees each received a “Wells” notice from the SEC, the company stated in a Form 8-K filed by Regions on July 9.
