On the heels of publishing his new memoir, the former Treasury secretary talks about how today's market lull is reminiscent of the environment leading up to the crisis.
Carolyn Kaufman, a former president of a Prim Capital Corp. advisory services unit, was sentenced to 3 years' probation, including 6 months under house arrest, for lying to a grand jury investigating a fraud against the National Basketball Players Association.
<i>Friday's menu:</i> Ukraine heats up and fund winners and losers come into focus. Plus: Fed-speak clarity: an oxymoron? Bank loan funds fall victim to Fed policy, Obamacare drags us back to the 1950s and banks square off with Big Labor in Vegas.
Now that it looks like the SEC will get an additional $150 million in funding, speculation is mounting on how the funds will be deployed. Is increasing adviser oversight going to be a priority?
Pushing her colleagues to decide whether to propose a regulation to raise investment advice standards for brokers, the SEC chairman called the uniform fiduciary standard 'a primary, immediate focus.' <i>(See what Mark Cuban had <a href="http://www.investmentnews.com/article/20140221/FREE/140229971" target="_blank">to say</a>.)</i>
Two on panel annoyed with regulatory action on "too big to fail"; Gallagher says asset managers shouldn't be considered systemically key.
Securities and Exchange Commission member Daniel Gallagher doubts that his agency will propose its own rule to raise advice standards for brokers providing retail investment advice.
Regulator said IBD didn't adequately train or supervise brokers selling alternative investments and nontraditional ETFs .
Bringing light and due diligence should be a priority for the investment advice industry.
Taking a lead from the SEC, the regulator seeks to understand dangers that lurk online. <i>(Don't miss: <a href="http://www.investmentnews.com/section/video?playerType=Events&eventID=FSI2014&bctid=3147642077001&date=20140203" target="_blank">Which firms are most at risk for cyberattacks?</a>)</i>
Today's <i>Breakfast with Benjamin</i> menu: Finra targets trading trickery. Plus: Credit Suisse pleads guilty to tax evasion, dealing with the Fed's giant balance sheet, Treasuries vs. gold and 10 great baseball movies to see this summer.
Senator calls for changes that would encourage retirement-age workers to work longer
Though well-intended, Finra's plan could come with new security concerns and costs
Camardas can seek monetary damages and pursue anti-trust violations in case in which they are suing the CFP Board for sanctioning them.
Advisers are sure to get a visit if they exaggerate numbers or make dubious statements in advertising.
If approved, rule would prohibit investor complaints from being contingent on clearing a broker's record.
Revives proposal that would require brokerages to link to regulator's database, including disciplinary background info.
Rule change would stop brokers from placing conditions on settlements stipulating that customers agree not to oppose brokers' move to clear record.
The Department of Labor, headed by Thomas Perez, aims to assist plan sponsors understand costs after 2012 regulations pushed for more disclosure. The solution? A fee road map. Skeptics warn the map could be as complicated as the disclosure.
