Data collection could force clearinghouses to manage reams of new account information.
A Finra arbitration panel has ordered the firm to buy back funds recommended by an adviser
Before he stepped down this week as chairman of the Securities Industry and Financial Markets Association, Chet Helck launched the organization's initiative to elevate customer care among its members to a best-interests standard. The effort, designed to help the financial industry regain investor trust, is modeled on a similar program at Raymond James Financial Inc., where Mr. Helck is the chief executive of the Global Private Client Group. He spoke to <i>InvestmentNews</i> at the SIFMA annual conference in New York this week.
The best way for the financial services industry to turn around negative public perception is to raise its standards for client care and elevate clients' interest above its own, the chairman of a major Wall Street trade association said Monday night.
Taking the pulse of the securities regulator as chief Mary Jo White continues her charm offensive, in which she's hoping to prove that her agency is no longer the lap dog of Wall Street. Given the revolving door, proof will be in the pudding.
In today's Breakfast with Benjamin: Two big investment houses recommend exiting emerging markets. Also: Credit Suisse offloads risky assets, investment gurus get nervous about 2014, cold weather and a weak economy, and what will cost more this year.
Wirehouse agrees to settle SEC charges that it failed to inform investors that a hedge fund influenced the selection of collateral backing two debt products it was selling.
SAC Capital Advisors' landmark $1.8 billion settlement of a U.S. government insider-trading probe stretching back to 2007 was approved by a federal judge, bringing to an end the hedge fund's role as a money manager and capping a decade of insider-trading cases.
MSRB wants to learn more to help consumers become more informed.
Former SAC Capital Advisors LP portfolio manager Mathew Martoma asked a judge to force the government to turn over evidence that he says can help him beat insider trading charges as his case goes to trial next month.
Sen. Ed Markey, who wrote the legislation that led to the creation of BrokerCheck, is calling for stricter regulator enforcement for <a href="http://www.investmentnews.com/article/20131024/FREE/131029933">brokers who violate securities rules</a> and continue to practice.
Brokers who are the subject of investor arbitration cases can clear their record of any wrongdoing too easily, lawyers say. Research finds that records were erased in 97% of cases settled from May '09 through Dec. '11.
Scorsese film celebrates frat-party side of investment-advice world.
Plus: Asian markets are charging, hitting a year-end financial high note, how to use bond ETFs, Amex gets stung, and apps for getting fit. Check out Breakfast with Benjamin.
San Diego adviser allegedly steered winning trades to favored clients and lied about how money was spent.
Industry bigs expect the SEC to release concept for single standard of care this summer; no such timeline for self-regulator
A review board denies the 82-year-old founder and president of Wedbush Securities' appeal and issues harsher sanctions, increasing the scope of the original suspension and doubling the fine for reporting violations.
Says it would more quickly identify potential red flags signaling misconduct
SEC, other regulators, pass rule after three years of back and forth with Wall Street.
Adviser to the stars Bambi Holzer is facing the wrath of regulators for allegedly lying to one of her former firms when she sold preferred shares of Provident Royalties in 2008. Her BrokerCheck report is one for the ages.
