The co-founder of Axa Rosenberg Group agreed to pay $2.5 million and be barred from the securities industry for life for failing to tell investors that there was an error in the computer code of the investment model he developed and the firm used to manage client assets.
Industry observers think the Securities and Exchange Commission will have to backtrack on a proposal to increase the number of people regulated as municipal advisers
Compensation for compliance experts has been stagnant over the past few years, but that situation should be improving soon, largely thanks to the Dodd-Frank Act.
The Dodd-Frank Act's new incentive program, which rewards tipsters with as much as 30% of penalties collected, has been operating on an interim basis since the law was enacted last year.
Rep. Spencer Bachus, chairman of the House Financial Services Committee, wants to overhaul the SEC and delay the fiduciary rule.
Not-so-binding arbitration? Two months after Raymond James Financial Services Inc. was ordered to pay $1.7 million as a result of an arbitration decision over suitability, the broker-dealer and the client are arguing in court.
The Securities and Exchange Commission filed charges today against unregistered Long Island investment adviser Corey Ribotsky for allegedly lying about the performance of his investment strategies and stealing more than $1 million from one of the hedge funds he managed.
Claim employer put retirement assets in proprietary funds that incurred $20M in excess costs
Advocates of extending fiduciary duty to cover more financial advisers had their hopes dashed last week — at least temporarily — as the two federal agencies that have been considering such a rule acknowledged that no action will be taken this year
Commission looks to smoke out exaggerations about education, AUM; 'unlikely to graduate to larger frauds'
Agency to begin collecting data on municipal bonds from MSRB; has authority to nix tax break
Many investment advisers are busily preparing for the upcoming switch from SEC oversight to state regulation. But one compliance expert believes enforcement will drop off dramatically after the hand-off, and in some states, advisers won't even face examinations. | <b>Extra</b> <a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&Date=20110923&Category=FREE&ArtNo=923009999&Ref=PH>The 10 states with the most CFPs</a> | <b>Comp</b> <a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&Date=20110923&Category=FREE&ArtNo=923009998&Ref=PH>What top RIA execs make</a>
Survey shows 53% back the Buffett rule to narrow the deficit; are candidates listening?
Banks not likely to salute; fixed-income desks would take substantial hit
A new poll shows that financial services insiders overwhelmingly support the Buffett Rule, which would require the wealthy to pay at least the same tax rate as middle-class earners | <b>Extra</b> <a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&Date=20110923&Category=FREE&ArtNo=923009997&Ref=PH>What advisers need to know about Bam's tax plan</a>
Commission alert about possible abuses linked to subdivided account arrangements
Finra claims two B-Ds established inflated schedules and rates on securities' transactions; brokerages neither admitted nor denied the charges
In a surprising twist, the influential Democrat has helped slow down efforts to expand fiduciary duty
Certain tax proposals President Barack Obama is seeking as part of his plan to help America “live within its means” would be especially damaging to a broad swath of financial advisory clients — and not just the superrich ones
Under-30 set say wealthy should put a higher tax rate than middle-income earners
