Displaying 115 results
Advisers aid clients hit by Joplin tornado
In the days after their city was hit by the deadliest tornado in more than 80 years, financial advisers in Joplin, Mo., faced two crucial tasks
Securities firms fight commission cap plan for private placements
The securities industry wants no part of a Finra proposal to cap at 15% commissions and other fees for outside private placements, claiming that it would prevent small business from raising capital
Finra shells out big lobbying $$
Finra hiked its lobbying expenditures in the first quarter of this year
Finra set to come down on Leo Wells’ B-D
Finra is prepared to spank the broker-dealer arm of one of the largest sponsors of non-traded real estate investment trusts for allegedly failing to meet standards for advertising and keeping client information safe
Finra proposes marking up its markup guideline
Finra is proposing to drop its 5% markup-markdown guideline, which can be traced back to the 1940s.
Ketchum: Fiduciary standard won’t happen before mid-2012
Registered representatives will operate under a fiduciary standard no earlier than the second half of 2012, according to Finra chief executive Richard Ketchum
QA3 hit with $1.6M award for sale of TICs to elderly couple
QA3 Financial Corp., already enmeshed in a dispute with its insurance company, has lost a $1.6 million arbitration claim to an elderly couple who invested in real estate deals that went bust
Schapiro’s $9M payout enrages advisers
The disclosure that Mary Schapiro received nearly $9 million last year when she left her post as Finra's chief executive to become chairman of the Securities and Exchange Commission was greeted with outrage by brokerage industry participants last week.
Finra offer to set up a testing program for RIAs falls flat
A proposal by Finra to develop a qualifying test for investment advisers has received a cool reception from adviser groups, which claim that it is part a continuing campaign by the regulator to broaden its powers
New Finra rule could cause headaches for hybrid advisers
A new Finra rule could put a crimp in the business of brokers who run outside investment advisory and insurance businesses
Marsico restructures buyout debt
Executives at Marsico Capital Management LLC have restructured $2.7 billion in debt as they fight for their company's…
Finra governors accused of flip-flopping
Three independent governors elected to the Finra board in August are already drawing fire from critics who say that they have abandoned the reform platform that got them elected in the first place
GOP gains might boost Finra’s regulatory reach
A provision left out of Dodd-Frank that would have given the Financial Industry Regulatory Authority Inc. oversight of…
Finra proposal on public arbitration wins praise
Finra's efforts last week to open up its arbitration process have pleased — but not satisfied — critics who claim that the proposal doesn't go far enough to protect investors.
With Finra in red, officials saw green
Thirteen current and former executives of the Financial Industry Regulatory Authority Inc. made more than $1 million apiece in 2008, a year in which the regulatory organization had an operating loss of $696 million, according to tax forms that Finra filed last month and the company's annual report.
Ameriprise hits affluent clients with new fees
Ameriprise Financial Inc. next year will begin imposing annual fees of up to $80 on the brokerage accounts of many of its customers — a move likely to irk the firm's financial advisers and registered representatives.
Executives from tainted B-Ds find the past isn’t a problem
Last month, the Financial Industry Regulatory Authority Inc. shut down APS Financial Corp. for overcharging clients $1.3 million for bond trades in 2005 and 2006.
Finra proxy proposals may well wind up in the circular file
Corporate-governance experts think that seven proposals designed to make Finra disclose more information and give members a say on executive compensation may never be implemented — even though 67% of Finra member firms that participated in the vote approved them.
Charles Ellis: Don’t let advisers dominate
The tidal wave of rules and regulations being spawned by the misdeeds of Bernard Madoff and the like is casting a pall on the integrity of a broad spectrum of investment advisers, some fear.
Members in uphill fight to make Finra transparent
Broker-dealers are in favor of several proxy proposals that urge the Financial Industry Regulatory Authority Inc. to become more transparent, but they doubt Finra will implement any of the ideas even if a majority of members approve them.
