Midsize advisers who haven't completed their switch to state registration from the SEC could have their registrations withdrawn — possibly by the end of the year.
Because many complex financial products have the potential for sudden and/or severe losses of principal, it is imperative that firms recommending these products document a thorough “reasonable basis” suitability analysis.
Investment advisers at large mutual fund companies and other financial institutions often operate with conflicts of interest, John Bogle, founder and former chief executive of The Vanguard Group Inc., told Securities and Exchange Commission Chairman Mary Schapiro on Tuesday.
GOP presidential nominee Mitt Romney and his running mate, Wisconsin Rep. Paul Ryan, seem determined to avoid talking about details of their tax plan during the fall campaign, creating a vacuum that their opponents are happy to fill with attacks and that retirement-savings advocates can fill with worry. Retirement-savings tax deferrals also could be on the chopping block to pay for the GOP ticket's goal of reducing tax rates across-the-board.
SEC scheduled to meet this week with advocates including Bogle
Signing declaration supporting universal standard of care
Regulator claims "Buckets of Money" strategy not backtested
Finra claims a consultant's employees took tests to help prep clients on what would be asked in later exams.
Three former brokers at an Atlanta investment firm churned client accounts and racked up $845,000 in commissions and fees for themselves and the brokerage while those customers lost $2.7 million, regulators said.
Association wants to make it easier for brokers to clean up their official records
