The SEC and Finra are taking a closer look at how financial advisers use social networking
Don't expect Securities America Inc. to extricate itself anytime soon from the legal headaches and expenses connected with the private placements it sold from Medical Capital Holdings Inc., a now-bankrupt company that turned medical receivables into promissory notes
Securities America Inc. and the Massachusetts Securities Division locked horns last week over the regulator's charges that the firm misled 60 investors in the state who bought $7.2 million in Medical Capital notes from the firm's reps.
Broker-dealers without big corporate parents or the ability to tap public markets are making an all-out effort to raise capital, in some cases turning to their own clients for financing.
Raymond James & Associates must face a lawsuit claiming it defrauded buyers of auction-rate securities, the first class-action complaint following the market's 2008 collapse to survive a judge's initial review.
When the Securities and Exchange Commission released a highly anticipated report last month by its staff recommending that brokers and investments advisers be held to the same fiduciary standard, some supporters felt the issue had been settled once and for all, and predicted that the agency would have a rule in place by the summer.
Bring on the fiduciary standard. In a recent InvestmentNews survey of almost 600 advisers, registered reps, financial planners, insurance agents and others, 69.2% said that they agree with the SEC's staff recommendation that any financial professional giving personalized investment advice be deemed a fiduciary
Maybe the shift from the SEC to state regulation won't be as bad as critics are making it out to be, but observers predict that some advisers will resort to “creative accounting” and “flat-out lying” to avoid having to change their registration
Given the chance to ease its regulatory burden, the Securities and Exchange Commission was expected to recommend that a self-regulatory organization be established to oversee investment advisers
A federal appeals court last Tuesday agreed that a lawsuit brought by a brokerage firm over the 2007 merger of NASD and the regulatory arm of the New York Stock Exchange should be thrown out
The SEC's schedule of investment adviser examinations will likely grind to a halt if the federal government is forced to shut down Friday
The Dodd-Frank financial reform law is an intimidating piece of legislation, if not for the breadth of its reach and ambition, then certainly for its sheer size — all 2,300 pages of it
In a move that could affect what broker-dealers charge clients for securities transactions, Finra this month proposed dropping its long-standing 5% markup/markdown policy
In what's become an all-too-familiar scene, another small, indie brokerage is closing up shop. Ensemble Financial Services Inc., located in Pittsford, N.Y. will soon be shuttering its B-D operation -- and its 85 registered reps will be moving on.
Three independent broker-dealers are suing their respective insurance carriers for failing to cover investors' legal claims, with one charging that its insurer has exposed it to “financial ruin”
Two broker-dealers have emerged as early winners in the fight over the 400 representatives affiliated with QA3 Financial Corp., which officially shut down Friday
Securities Service Network Inc. is the latest broker-dealer to pull the plum out of the pie of the defunct <a href= http://www.investmentnews.com/section/broker-dealer-data-profile&R=290006&Y=2009 >QA3 Financial Corp.</b>
Will serve as managing director for firm with $7.1B in AUMs; outfit started out as John D.'s family office in 1882
Says flood of comment letters raised some important points, which commission will consider
Management at Wells Investment Securities -- the broker-dealer of Leo Wells -- says the B-D is on Finra's radar. Apparently, the regulator is set to discipline the firm for allegedly violating advertising and data protection rules.
