Regulator is using advanced data analytics to find the bad seeds who can undermine a firm's culture and foster 'good people making bad decisions,' the Finra chief says.
The firm will announce details of its strategy to comply with the DOL fiduciary rule in the next two weeks. <b><i>(More: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">The most up-to-date information on the DOL fiduciary rule</a>)</i></b>
Skybridge Capital executive's outspoken comments &mdash; including a comparison to the 1857 Dred Scott decision &mdash; sparked a debate on social media.
The Skybridge Capital executive says the regulation diverts too much capital into low-cost passive funds, and he compares it to the 1857 Dred Scott decision. <b><i>(More: <a href="http://www.investmentnews.com/article/20160925/FREE/160929970/hillary-clinton-vs-donald-trump-who-are-you-voting-against" target="_blank">Hillary Clinton vs. Donald Trump: Who are you voting against?</a>)</b></i>
The best practices program will require advisers to charge reasonable fees and disclose them.
Jeffrey Howell allegedly overvalued a UBS customer's account by as much as $3 million.
CFO Paul Donofrio says the bank's decision "creates significant flexibility for our advisers, and we're delivering fiduciary, best-interest advice to clients.” <b><i>(More: <a href="http://www.investmentnews.com/section/fiduciary-faq" target="_blank">A comprehensive, searchable database of advisers' fiduciary FAQs</a>)</i></b> .
Despite record enforcement at the agency, the senator focused on Ms. White's 'brazen conduct.' <b><i>(More: <a href="http://www.investmentnews.com/article/20160904/FREE/160909989/why-financial-advisers-hate-elizabeth-warren" target="_blank">Why advisers hate Elizabeth Warren</a>)</i></b>
First Heartland Capital broker Jerome Scott Krause liquidated some of their investments without consent
The broker wired funds to a business account to pay himself a higher salary, unearned commissions.
The threat of cyberattacks is very real in the financial advisory industry, but not all advisers are getting the message.
Debra J. Ferrara agreed to be fined and suspended for releasing funds after a client's email account was hacked.
Laurence I. Balter, founder of Oracle Investment Research, also allegedly charged clients both an advisory fee and a fund-management fee.
The broker borrowed $300,000 total from two clients in violation of Finra rules and firm policy.
Lessons can be learned from larger firms that have completed Finra's examinations, and from the safeguards they've built to avoid future problems.
Plus: The Fed almost raised rates again, Neuberger Berman would rather fight than settle, and welcome to the worst kind of job interview
The company's "criminal epidemic" caused its stock price to tumble, leading to hundreds of millions in losses that 401(k) fiduciaries didn't try to prevent, according to allegations.
Neil Moscicki allegedly violated the noncompete covenant of his employment agreement.
It's part of an industry sweep that targeted firms with an above-average number of reps with current misconduct reports on their records.
Arbitration panel pointed to customer letters as evidence the brokers had done nothing wrong.
