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Compliance should be a conversation
Maintaining an open dialogue lets advisors and the compliance team work through concerns together, finding solutions rather than confronting roadblocks.
‘We’re scrambling to figure out spot-bitcoin ETFs,’ says industry exec
Many broker-dealers still have plenty of work to do regarding new product.
SEC bars ex-Morgan Stanley broker who stole from his mother
The SEC alleged that Texas broker Doug McKelvey misappropriated more than $1.7 million.
What to expect while you’re expecting the fiduciary rule
Although there will almost certainly be a legal challenge, don’t count on it going away, lawyers say. Here are some big issues to watch for.
Reg BI enforcement poised to take next step
Brokers have been wondering whether they’re complying correctly with the standard of conduct. Enforcement cases this year may shed more light than ever before.
Robinhood to pay $7.5M to settle Massachusetts charges
'We reject the premise that any part of our app, past or present, is 'gamified,'' a Robinhood spokesperson notes.
JPMorgan to pay $18M for blocking client contact with SEC
Firm's tactic 'not only undermined critical investor protections and placed investors at risk, but was also illegal,' says SEC enforcement director.
Despite more than $2B in fines, financial industry still uses risky communications
Report reveals texting and messaging apps common at RIAs and broker-dealers.
Broker-dealers and bitcoin ETFs: To sell or not to sell?
'Financial advisors don’t understand bitcoin,' one senior executive notes. 'It's a disaster waiting to happen.'
Finra watching crypto assets, brokers in 2024
Finra reveals it's keeping tabs on salespeople and financial advisors who are involved in the marketing and sale of digital assets.
Wrong birthday info led to $130K in RMD penalties, plaintiffs say
A Wells Fargo client who was born in 1939 had his birthdate incorrectly recorded as 2001, according to a lawsuit.
‘This LPL case is a grab bag,’ says industry attorney
Finra hits LPL, Interactive Brokers with fines as 2023 closes.
What do regulators have in store for financial services in 2024?
With lots of new and existing regulations to deal with, as well as the challenges posed by AI, it's shaping up to be a strenuous year for compliance executives.
Navigating the waters of IAR continuing education compliance
It's crucial for investment advisors to recognize the consequences of failing to meet their annual continuing education obligations.
Finra charges advisor with paying under the table commissions
Finra alleges a southern California broker kicked back $900,000 in commissions to non-registered sales person.
Finra smacks Philly broker with Wells notice
"It's not a good day for Austin Dutton," says one attorney.
Will rising interest rates spark SEC crackdown?
Some broker-dealers are 'in a bit of a pickle' due to how they invested client cash, industry executive says.
Online brokers misstep in securities lending: Finra
'Who were the accountants? Lending securities can be lucrative,' a compliance executive says.
Wall Street still has comms problem despite $2B in fines
Traders continue sharing information using unauthorized messaging platforms.
Nashville B-D that sold GWG bonds closing down
The securities industry has a long, sad history of firms going out of business after a product like GWG bonds fails.
