Displaying 60 results
Raymond James’ CEO shrugs off DOL rule
"It doesn't look too problematic at all," Paul Reilly said.
New DOL rule no big deal, says Stifel’s Kruszewski
"It appears to be less restrictive than what was proposed," says CEO.
SEC warns industry against marketing rule pitfalls
An alert from the regulator details problems it found in firms' compliance procedures, advertising practices, and Form ADV disclosures.
Bankrupt GWG bonds not right for anyone: Finra arbitrator
By 2020, 'GWG had shown years of losses and large negative cash flows,' a securities arbitrator writes.
SEC dings Minnesota investment manager over pay-to-play conflict
'Is four grand really going to influence a politician’s thinking?' one consultant asks.
Fintech takes aim at industry’s texting-breach plague
Serial fintech entrepreneur Larry Shumbres leads the veteran leadership team launching an AI-powered compliance solution.
Arete Wealth pays out $1.1M in arb claims to start 2024
"We have a handful of open cases against Arete Wealth, and some involve Center Street, as well," says a plaintiff's attorney.
Commonwealth case sends crystal-clear message
KO blow from the SEC offers pointed lesson: Don’t fight Uncle Sam
SEC hammers Commonwealth with $93M in penalties over revenue sharing
The penalty represents about one or two years of net income for the firm.
SEC tightens rules on robo-advisor registration
The rule revamp fills a gap in an early-2000s exemption that let investment advisors use websites as ‘props,’ says SEC Chair Gary Gensler.
Repeat flubs at Stifel over complex products: Finra
Stifel broker-dealers agree to fines and restitution of almost $3 million as a result of shortcomings in supervision and compliance related to sales of non-traditional exchange-traded products.
ACA ramps up regulatory support for wealth firms
The provider of governance, risk and compliance solutions has unveiled a dedicated practice group for wealth managers.
Principal on the hook for up to $5M related to alleged churning
A Minnesota-based foundation's lawsuit against the firm centers on an unnamed ex-broker's alleged churning of variable annuities.
Osaic, Securities America fined by Finra over cybersecurity
The regulator fined the firms $150,000 each for failures related to protecting thousands of clients’ private information and cybersecurity gaffes.
New Hampshire bars former Next Financial broker
The broker and Next Financial Group Inc. are on the hook for more than $1 million in penalties.
Hedge funds, PE firms discussing ways to deal with SEC messaging crackdown
Citadel, KKR & Co. and Blackstone Inc. are among the firms that have been talking about strategies to blunt SEC penalties related to the use of messaging apps.
Being a fiduciary is the ‘true professionalization’ of financial advice
Ultimately, fiduciary care is going to drive the RIA space, advisor says.
Finra fines spike 63% in 2023: Report
'Last year saw bigger Finra fines per case,' a lawyer says. 'Supersized fines, or those of $1 million or more, were up, and mega-sized fines, or those of $5 million and more, increased too.'
Former Wells Fargo indie broker is barred by Finra
The broker, Jayson Pocius, was 'discharged' last year from Wells Fargo Advisors Financial Network.
Opaque SEC sends a clear message: Stop texting
Critical issue represents the latest meeting point of two pressures weighing heavily on advisors.
