Keith Gregg, former president and chief executive of First Allied Securities Inc. of San Diego, is suing the firm, claiming that he was forced out after complaining about improper practices at the company. Officials at the firm deny the charges and were set to answer the complaint and file a counterclaim against him today.
The Obama administration's sweeping proposal to tighten financial regulation is unlikely to press for the formation of a self-regulatory organization to oversee investment advisers.
Laserfiche this week rolled out its Avante software solution that combines <a href="//www.investmentnews.com/apps/pbcs.dll/article?AID=/20080219/REG/685102440/1102/INTechnologyNews03&ht="" target="”_blank”" rel="noopener noreferrer">document management</a> with work-flow automation tools, and e-mail archiving.
The proposal would allow the SEC to issue rules requiring companies to give shareholders more say in executive compensation.
As part of a settlement last month with securities regulators in Arizona, Woodbury Financial Services Inc. agreed to tighten its policy of looking into the financial backgrounds of their 1,750 reps and advisers.
Executive compensation should decided by company boards, not imposed by legislators or regulators,
Two California men and the companies they ran were charged today with conducting an $80 million Ponzi scheme that targeted Korean-American investors with false promises of annual returns of up to 36% from foreign currency trading,
Separate efforts to sell the businesses and personal property of disgraced financier Bernard Madoff have been combined to speed the process and get more of the proceeds to those he cheated.
U.S. retirement assets were down 22% at the end of 2008, compared with yearend 2007, according to a report released yesterday by the Washington-based Investment Company Institute.
While the majority of small businesses do not think the economy will affect their ability to offer a 401(k) retirement plan, 44% said they may have to reduce or stop matching employee contributions, according to a survey released today by Nationwide Financial Services Inc. of Columbus, Ohio.
The difference in regulatory oversight for broker-dealers and investment advisers leaves consumers open to risks, Richard Ketchum, chief executive of the Financial Industry Regulatory Authority Inc., said today.
The Obama administration’s consideration of a safety commission for financial products needs to be approached with great care, Richard Ketchum, chief executive of the Financial Industry Regulatory Authority Inc., said today at NAVA’s annual legislative and regulatory conference.
Advisers are struggling to get clients — especially baby boomers — to think about funding long term care in the face of depleted investment portfolios.
On a recent trip to Singapore, my wife and I took a cable car ride between two islands.
In my last Fiduciary Corner column, I wrote about the significant benefits that would result if, as a result of regulatory reform, all who provide financial advice — including broker-dealer representatives — are held to the fiduciary standard of care established under current laws.
Financial advisers who cater to workers in the automotive industry are scrambling to prepare their clients for the onslaught of job losses that will follow General Motors Corp.'s filing for bankruptcy protection last week.
Opponents of the estate tax are preparing to fight a push in Congress to require that minority-held interests in private companies be valued the same as majority-held interests for estate tax purposes.
Finra may have given broker-dealers and registered representatives a reprieve of sorts last year as the amount in fines and enforcement actions it levied against firms plummeted.
Many financial decisions are made around the dinner table rather than a conference table, according to one financial planner and foodie who believes in presenting financial planning concepts in a more digestible way.
Independent registered representatives and their spouses soon could face unprecedented scrutiny into their personal finances.
