Advisor News

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SEC opens whistle-blower website as Dodd-Frank program begins
PRACTICE MANAGEMENT SEP 29, 2011
SEC opens whistle-blower website as Dodd-Frank program begins

The Dodd-Frank Act's new incentive program, which rewards tipsters with as much as 30% of penalties collected, has been operating on an interim basis since the law was enacted last year.

By Doug Cubberley
REGULATION AND LEGISLATION SEP 29, 2011
Bachus wants to restructure SEC

Rep. Spencer Bachus, chairman of the House Financial Services Committee, wants to overhaul the SEC and delay the fiduciary rule.

By Mark Schoeff Jr.
Raymond James in court over $1.7M arbitration settlement over suitability
LIFE INSURANCE AND ANNUITIES SEP 29, 2011
Raymond James in court over $1.7M arbitration settlement over suitability

Not-so-binding arbitration? Two months after Raymond James Financial Services Inc. was ordered to pay $1.7 million as a result of an arbitration decision over suitability, the broker-dealer and the client are arguing in court.

By Darla Mercado
SEC charges Long Island investment adviser
REGULATION AND LEGISLATION SEP 28, 2011
SEC charges Long Island investment adviser

The Securities and Exchange Commission filed charges today against unregistered Long Island investment adviser Corey Ribotsky for allegedly lying about the performance of his investment strategies and stealing more than $1 million from one of the hedge funds he managed.

By Bloomberg
Ameriprise workers sue over company's own 401(k) funds
RETIREMENT PLANNING SEP 27, 2011
Ameriprise workers sue over company's own 401(k) funds

Claim employer put retirement assets in proprietary funds that incurred $20M in excess costs

By Darla Mercado
FINTECH SEP 27, 2011
How advisers can really make tech pay off

Financial advisers often equate technology with progress. And while it can be one of the major keys to unlocking profitability, it also can be responsible for strangling and stifling your firm.

By Davis Janowski
FINTECH SEP 27, 2011
Advent's new spirit of openness means more support for RIAs

A new spirit of openness appears to be permeating Advent Software Inc.

By Davis Janowski
Wealth gap between races now a canyon, Pew finds
RETIREMENT PLANNING SEP 26, 2011
Wealth gap between races now a canyon, Pew finds

Average net worth of white households at $113K; number closer to $6K for black households

By John Goff
RIA NEWS SEP 25, 2011
Product aims to mitigate risk for RIAs

The MDE Group Inc., a $1.3 billion institutional wealth management firm, is making an official expansion into the registered investment adviser business with the launch of Risk 3.0 Asset Management

By Jeff Benjamin
REGULATION AND LEGISLATION SEP 25, 2011
Fiduciary timetable pushed back into 2012

Advocates of extending fiduciary duty to cover more financial advisers had their hopes dashed last week — at least temporarily — as the two federal agencies that have been considering such a rule acknowledged that no action will be taken this year

By Mark Schoeff Jr.
REGULATION AND LEGISLATION SEP 23, 2011
Liars clubbed? SEC cracking down on tarted-up ADVs

Commission looks to smoke out exaggerations about education, AUM; 'unlikely to graduate to larger frauds'

By Mark Schoeff Jr.
Are your tax-free munis legit? The IRS wants to know
RETIREMENT PLANNING SEP 23, 2011
Are your tax-free munis legit? The IRS wants to know

Agency to begin collecting data on municipal bonds from MSRB; has authority to nix tax break

By John Goff
Compliance expert: 'Switch' will dramatically undercut oversight
REGULATION AND LEGISLATION SEP 23, 2011
Compliance expert: 'Switch' will dramatically undercut oversight

Many investment advisers are busily preparing for the upcoming switch from SEC oversight to state regulation. But one compliance expert believes enforcement will drop off dramatically after the hand-off, and in some states, advisers won't even face examinations. | <b>Extra</b> <a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&amp;Date=20110923&amp;Category=FREE&amp;ArtNo=923009999&amp;Ref=PH>The 10 states with the most CFPs</a> | <b>Comp</b> <a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&amp;Date=20110923&amp;Category=FREE&amp;ArtNo=923009998&amp;Ref=PH>What top RIA execs make</a>

By Mark Schoeff Jr.
Surprise! GOP voters want to tax the rich, too
REGULATION AND LEGISLATION SEP 23, 2011
Surprise! GOP voters want to tax the rich, too

Survey shows 53% back the Buffett rule to narrow the deficit; are candidates listening?

By John Goff
Regulators run Volcker rule up the flagpole
REGULATION AND LEGISLATION SEP 23, 2011
Regulators run Volcker rule up the flagpole

Banks not likely to salute; fixed-income desks would take substantial hit

By John Goff
Investors on Buffett rule: Go ahead, soak the rich
RETIREMENT PLANNING SEP 23, 2011
Investors on Buffett rule: Go ahead, soak the rich

A new poll shows that financial services insiders overwhelmingly support the Buffett Rule, which would require the wealthy to pay at least the same tax rate as middle-class earners | <b>Extra</b> <a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&amp;Date=20110923&amp;Category=FREE&amp;ArtNo=923009997&amp;Ref=PH>What advisers need to know about Bam's tax plan</a>

By Bloomberg
Subaccounts now squarely on SEC's radar
REGULATION AND LEGISLATION SEP 23, 2011
Subaccounts now squarely on SEC's radar

Commission alert about possible abuses linked to subdivided account arrangements

By Liz Skinner
RETIREMENT PLANNING SEP 23, 2011
Whitney's flood of muni defaults more like a drip

By John Goff
RJ subs to pay $2.1M for allegedly charging jacked-up commissions
REGULATION AND LEGISLATION SEP 23, 2011
RJ subs to pay $2.1M for allegedly charging jacked-up commissions

Finra claims two B-Ds established inflated schedules and rates on securities' transactions; brokerages neither admitted nor denied the charges

By Bruce Kelly
INsider: Barney Frank — the financial services industry's unlikely ally
REGULATION AND LEGISLATION SEP 23, 2011
INsider: Barney Frank — the financial services industry's unlikely ally

In a surprising twist, the influential Democrat has helped slow down efforts to expand fiduciary duty

By Bloomberg