Bank of America Corp.'s Merrill Lynch unit will pay $1 million to resolve claims that supervisory failures enabled a Texas-based representative to operate a Ponzi scheme using a company account.
Economic uncertainty and volatile markets are helping scam artists exploit the fear and greed of unsophisticated and often financially vulnerable investors.
Rumors have been swirling for months about who would acquire Securities America, the embattled broker-dealer. On Wednesday, the guessing-game ended, as parent Ameriprise sold the B-D to Ladenburg Thalmann.
If you're recommending long-term-care insurance to clients as a way for them to protect assets and to care for themselves when they're old and sick, you're probably doing it incorrectly.
Another independent broker-dealer that sold high-risk private placements is hanging on by a thread, with the firm's management stating grave concerns about the broker-dealer's future
Escalating medical expenses and Medicare cutbacks will strain retiree budgets
Private placements strike again: Another independent broker-dealer that sold high-risk Reg D offerings appears to be struggling. This week, CapWest Securities' management filed a report with the SEC stating grave concerns about the B-D's future.
FBI raids home of adviser Mark F. Spangler in probe of alleged fraud; served as president of financial advisers association in 1999
Much has been written about the opportunity to undo, or re-characterize, a Roth IRA conversion if the assets in the account depreciate
Schwab Intelligent Technologies part of the evolving strategy to deliver on the firm's technology promises
Jeffrey Thomasson, 52, may pass on more than $100 million to heirs using an estate-planning strategy for avoiding gift and estate taxes.
The Treasury's Federal Insurance Office yesterday announced that it's looking for public comments — with a special focus on systemic risk — as part of a report on modernizing insurance regulations.
Recently, the Tax Court ruled that a taxpayer's continuing business activities and lack of credible evidence failed to qualify him as disabled under the tax code
Not surprisingly, investors are becoming more adept at using technology to manage their finances and evaluate investment-related information
A California appellate court has ordered Wells Fargo Advisors LLC to pay $915,000 in legal fees to Stifel Nicolaus & Co. Inc. and Stifel broker Chris Nielsen
Rep. Spencer Bachus, an Alabama Republican and chairman of the House Finance Committee, is floating legislation that would establish one or more self regulatory organizations to oversee investment advisers; the fiduciary standard hits a snag; and the SEC takes a look at sub-accounts.
Suddenly, selling away is again a big concern for regulators and law enforcement agencies. In recent months, former reps at several marquee B-Ds have been investigated for allegedly peddling unapproved investments on the side. | <b>Extra </b><a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&Date=20110923&Category=FREE&ArtNo=923009998&Ref=PH>What top RIA execs earn</a>
Finra is continuing to shake up the way broker-dealers show the value of illiquid investments such as non-traded real estate investment trusts and private placements on clients' account statements.
The unfolding drama at Jon Corzine's bankrupt trading outfit could give a serious boost to those who back financial reform, including the establishment of an investment adviser SRO and a universal standard of care.
