Advisor News

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True financial reform? OMG!  Female teens may hold the answer
REGULATION AND LEGISLATION MAY 30, 2010
True financial reform? OMG! Female teens may hold the answer

The teen game platform omgpop.com offers some useful lessons on how to get market participants to change their behavior.

By Bloomberg
FINTECH MAY 30, 2010
A modular approach to re-balancing

Small advisory firms shopping for modestly priced portfolio re-balancing and trade order management software might want to look into Rebalance Express.

By Davis Janowski
Health savings account enrollment on rise
RETIREMENT PLANNING MAY 30, 2010
Health savings account enrollment on rise

Enrollment in high-deductible health insurance plans linked to health savings accounts continues to surge, with the biggest growth in plans offered by larger employers.

By Jerry Geisel
REGULATION AND LEGISLATION MAY 28, 2010
House passes jobs bill with fund managers' tax rise

The U.S. House approved legislation to extend unemployment insurance, restore some tax breaks and raise taxes on managers of buyout funds and other investment partnerships.

By Bloomberg
FINTECH MAY 28, 2010
Finantix to roll out advisory apps for iPad later this year

By Davis Janowski
REGULATION AND LEGISLATION MAY 28, 2010
Coming soon: More Finra registration requirements?

Finra is proposing registration requirements for some back-office supervisory positions.

By Dan Jamieson
REGULATION AND LEGISLATION MAY 28, 2010
'Wiser' B-D exam program on the way, says Finra's boss

Finra is adopting a more “laserlike focus” on fraud, Rick Ketchum, CEO and chairman of the securities industry's self-regulator, said this morning in Baltimore at its annual conference.

By Bloomberg
Financial adviser to the stars gets long run in prison
RIA NEWS MAY 27, 2010
Financial adviser to the stars gets long run in prison

Kenneth I. Starr sentenced to more than seven years in jail for fraud; clients included Sylvester Stallone, Wesley Snipes

By Mark Bruno
Ken Starr's e-mails should bar release on bail, U.S. Says
RIA NEWS MAY 27, 2010
Ken Starr's e-mails should bar release on bail, U.S. Says

Kenneth I. Starr, the money manager who pleaded guilty to fraud in September, should stay in jail until he's sentenced because of a series of e-mails in which he expressed “extraordinary contempt” for his brothers, who would guarantee his bail, U.S. prosecutors argued.

By Bloomberg
SEC sues Ken Starr lawyer for helping steal $25M adviser's clients
RIA NEWS MAY 27, 2010
SEC sues Ken Starr lawyer for helping steal $25M adviser's clients

The U.S. Securities and Exchange Commission sued an attorney for Kenneth Starr, claiming he helped the former New York money manager steal more than $25 million from investors.

By Mark Bruno
Bank of America sues adviser to the stars
REGULATION AND LEGISLATION MAY 27, 2010
Bank of America sues adviser to the stars

Kenneth Starr, who pleaded guilty in September in a $59 million fraud case, was sued by Bank of America Corp. over an unpaid $500,000 debt.

By Bloomberg
Martin Scorsese sued by Kenneth Starr receiver
PRACTICE MANAGEMENT MAY 27, 2010
Martin Scorsese sued by Kenneth Starr receiver

The receiver for firms once controlled by jailed money manager Kenneth I. Starr sued filmmaker Martin Scorsese and his production company for about $600,000.

By Bloomberg
REGULATION AND LEGISLATION MAY 27, 2010
Celebrity adviser Ken Starr set to face the heat

Money manager Kenneth I. Starr faces a Nov. 1 criminal trial on charges that he defrauded his celebrity and socialite clients of at least $59 million.

By Bloomberg
PRACTICE MANAGEMENT MAY 27, 2010
Ken Starr: How he became the adviser to the stars

Kenneth I. Starr knew how to cultivate relationships with powerful people, and he did it in the most transparent way -- by serial name-dropping.

By Bloomberg
Starr struck: Celebrity financial adviser slapped with suit
RIA NEWS MAY 27, 2010
Starr struck: Celebrity financial adviser slapped with suit

Kenneth Starr, the investment adviser accused in a criminal indictment of stealing at least $59 million from clients, was sued by City National Bank, according to state court records in New York.

By Bloomberg
Ken Starr indicted; clients' estimated losses double
RIA NEWS MAY 27, 2010
Ken Starr indicted; clients' estimated losses double

Kenneth Ira Starr, the New York investment adviser who represented actors Sylvester Stallone and Wesley Snipes, was indicted for stealing at least $59 million from clients, almost double the amount previously thought. <b><a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Avis=CI&amp;Dato=20100527&amp;Kategori=FREE&amp;Lopenr=527009999&amp;Ref=PH>Starr studded: Adviser's celebrity client list</a></b>

By Mark Bruno
Ken Starr denies fraud charges; feds allege he stole $59 million 'and counting'
REGULATION AND LEGISLATION MAY 27, 2010
Ken Starr denies fraud charges; feds allege he stole $59 million 'and counting'

Less than 24 hours after federal prosecutors revised their estimate of Kenneth Ira Starr's alleged theft to at least twice as large as their original figure of $30 million, the financial adviser to the stars denied any wrongdoing in a brief court appearance.

By InvestmentNews Staff
Ken Starr denies charges of $59M fraud
REGULATION AND LEGISLATION MAY 27, 2010
Ken Starr denies charges of $59M fraud

Kenneth Ira Starr, the New York investment adviser who faces federal charges that he defrauded his celebrity and socialite clients, denied wrongdoing today in a brief court appearance.

By Mark Bruno
Kenneth Starr's lawyer: SEC should not be 'heartless' in treatment of jailed adviser
REGULATION AND LEGISLATION MAY 27, 2010
Kenneth Starr's lawyer: SEC should not be 'heartless' in treatment of jailed adviser

Lawyer Abbe Lowell appeared in court to at least temporarily represent jailed money manager Kenneth Starr and his wife and urged the U.S. Securities and Exchange Commission not to be &#8220;heartless.&#8221;

By Bloomberg
REGULATION AND LEGISLATION MAY 27, 2010
Ex-con promised returns of 17,000% in 'massive' global investment scam: Prosecutors

A Canadian national who the U.S. government says swindled $70 million from 40,000 investors on six continents carried out the same kind of Ponzi scheme the one-time bank robber mocked on his website, federal investigators allege.

By Associated Press