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Finra’s fine proceeds to upgrade technology, track trading, educate investors
The self-regulator used $39.5 million in fines plus another $31.6 million from reserves for the initiatives
Court says fraud will cost Navellier more than $31 million
The SEC case alleged the firm and its founder knew, but didn’t tell, about misrepresentations of fund performance
Finra adds human resources officer
Rainia Washington becomes the lone African-American executive at the regulator
Private equity in 401(k)s? Not anytime soon
Very few plans include investments that use PE, and guidance this week from the Labor Department might not change that.
Finra orders Merrill Lynch to pay $7.2 million over mutual fund overcharges
The brokerage reimbursed customers a year ago, earning a break on sanctions for cooperation
SEC charges Florida RIA with second books-and-records failure
E*Hedge Securities, which was operating COVID-related investment websites, ‘does not appear qualified’ to register as internet adviser, the agency said
DOL encourages use of private equity funds in retirement plans
Investor advocates warn high-risk, high-fee investments could harm savers
Fund manager indicted over $68 million fraud scheme
Brenda Smith of Philadelphia diverted tens of millions of dollars from Broad Reach Capital, according to the charges
Raymond James sues Ohio National for $10 million in VA commission fight
Raymond James is the latest broker to join the tussle over compensation on the insurer's variable annuities
FSI fights SEC ‘rulemaking by enforcement’
An industry coalition filed a petition requesting the agency bring its staff 'guidance' in line with existing regulations on disclosing compensation for recommending mutual fund share classes
DOL sends revised fiduciary rule to Office of Management and Budget
After being stalled for months, the proposal has finally advanced and could be heading toward public release
Judges skeptical Congress mandated a uniform fiduciary standard rather than Reg BI
Plaintiffs in the lawsuit argue the SEC exceeded authority by giving brokers too much latitude on advice
Upholding the spirit of new legislation
Lawmakers have stepped in to provide relief to millions of Americans, but the laws come with unforeseen loopholes
A contemplation of Regulation BI
The brokerage industry, which has a reputation for not always quietly abiding to external forces, has remained curiously silent on the impending changes
State best interest annuity rule begins journey to become law
Two down, 48 states to go for sales rule
The sound of silence
Regulation BI must be implemented by June 30, so why aren’t we hearing more about how brokerages are going to change the way they deliver investment advice?
CFP Board reforms enforcement procedures to align with new ethics code
The changes are designed to give the organization better access to information for disciplinary actions
Advisers are taking PPP loans for future needs as uncertainty lingers
Sixty-one percent said they anticipate financial difficulties in the coming months
Battle lines drawn over RIAs taking PPP loans
Critics challenge the morality of fee-based advisers taking government bailout money
Oil ETF faces U.S. probes over disclosures
Both the SEC and the CFTC are looking at whether USO properly disclosed its risks to investors
