Companies usually keep a low profile when the Securities and Exchange Commission investigates them. Robert DePalo decided to sue.
Finra on Wednesday ordered midsize independent broker-dealer J.P Turner & Co. to pay more than $700,000 in restitution to clients who complained about unsuitable sales of leveraged and inverse exchange-traded funds and excessive mutual fund switching by one registered representative.
Treasuries snapped the biggest advance in a month before the Federal Reserve announces a decision today on whether it will slow asset purchases from $85 billion a month.
There's a 40% to 60% chance that the Federal Reserve will announce a reduction in its asset purchase program tomorrow, according to Mohamed El-Erian, chief executive officer of Pacific Investment Management Co.
Breakfast (with Benjamin) is served: Dividend ETFs losing luster as rates rise; Bernanke's last stand; nontransparent active ETFs; Obamacare's drag on health care; useless jobless claims data; and global New Year's traditions.
He worked for firm accused of selling $18 million in fraudulent notes to star athletes, including the NFL's Vernon Davis (pictured)
Prospect of regulation by brokers' regulator does not bother existing sites, which have conducted crowdfunding for accredited investors for some time.
A group of eight senators wrote the SEC, saying it was concerned that it was taking so long to write rules to implement part of the JOBS Act that allows small companies to raise capital from investors online.
A new proposed plan to end Detroit's $18 billion bankruptcy would pay bondholders 20 cents on the dollar and give police and firefighters higher pension payouts than other city employees. Now disagreement from both bond insurers and unions is expected to usher in a new, more contentious phase of negotiations.
Investors watch the Fed as its last meeting of the year begins. Also in today's Breakfast with Benjamin: Stocks to buy when the Fed tapers, gold investors seek the bottom, IPOs gone wild, and a Deutsche Bank shopping guide.
Labor Dept. seeks ruling on Fifth Third Bancorp case that could ease challenges to employers.
Plus: Looking for weakness in the Volcker rule, the case for stocks in 2014, the upside of market bubbles, and what the heck Elizabeth Warren is up to now?
Supreme Court review could lead to more stock-drop cases.
A recent lawsuit against MassMutual over excessive 401(k) fees raises the possibility that group annuities and stable-value products could become a focus of future complaints.
Fewer than 700 actions taken but agency collected a record $3.4 billion.
Finra is considering raising the fees related to pursuing an arbitration claim against a brokerage firm in order to increase the pay for people who hear the cases.
Employees alleged the paper distributor breached its fiduciary duty.
Regulator working on dual tracks but specifics and timing remain uncertain
That change would increase the cost of arbitration for firms and retail investors, some industry watchers warned. But Finra describes the increases as necessary.
The Investor Advisory Committee gives the SEC two options for a uniform standard for advisers and brokers.
