Displaying 115 results
Finra board election is getting heated
Finra-backed candidates who represent large and midsize firms are running unopposed so far in the regulator's upcoming board election, but a battle is brewing for three open small-firm seats.
Finra plan to increase power draws ire
Brokerage firms are howling over a far-reaching proposal that would give Finra substantially more power.
Sorry, my adviser is tied up at the moment
Lousy investment performance apparently drove four clients of a financial adviser in Speyer, Germany, to kidnap and torture him for four days this month, according to published reports.
Watchdog slams Finra’s ‘abysmal’ record
A good-government group is asking Congress to rethink the concept of self-regulation.
Finra faces rough road as it seeks Errico’s successor
The Financial Industry Regulatory Authority Inc. has a tough task ahead of it in searching for the right person to replace Robert Errico in running its member regulation division.
Court ruling seen soon on suit charging Finra misled members
The fate of a lawsuit brought by two brokerage firms against NASD over its 2007 merger with the New York Stock Exchange's regulatory unit could be decided this month.
Morgan Keegan scores an arbitration win over bond fund blowups
After a string of high-profile securities arbitration losses, Morgan Keegan & Co. Inc. emerged as a winner in an $8.2 million investor complaint that alleged unsuitability and breach of fiduciary duty related to firm's bond funds.
Life settlement suit raises questions about duties of reps, firms
A recent lawsuit concerning a failed investment in a life settlement has exposed a new area of regulatory uncertainty and potential liability for registered representatives and their firms.
Wall Street slams Obama’s bank proposals
Financial services industry groups and Republican lawmakers last week criticized President Barack Obama’s plan to rein in bank…
Finra taking a hard look at GunnAllen’s books
Finra officials are trying to determine if GunnAllen Financial Inc., already reeling from the abrupt departure of its holding company's chairman, has enough capital to stay in business.
AIG trying to distance itself from its past
Hoping to overcome distributors’ suspicions and gain traction in the variable-annuity market, embattled insurance carrier AIG next month…
Brokerage hit with triple damages in 95-year-old’s arbitration award
In a rarity, an arbitrator last month cited elder abuse in tripling the damages a discount-securities firm must…
Finra to get tough on Reg D offerings
Finra expects to bring cases against brokerage firms involved in selling private-placement offerings next year, its head of enforcement said last week.
Former rep wins $4 million in defamation case
A former SunTrust Robinson Humphrey broker has won $4 million in a defamation claim against the firm.
FSI supports self-regulator for advisers
The Financial Services Institute Inc. is now clamoring for a self-regulatory organization to oversee investment advisers.
No limelight, just labor
House Financial Services Committee Chairman Barney Frank, D-Mass., gets most of the attention on banking and securities issues, but the committee's second-ranking Democrat, Rep. Paul Kanjorski, is the one handling the issues most important to financial advisers.
Office décor can make a difference
Financial adviser Ted Feight recently discovered that office décor does indeed matter. Up until a few months…
Industry prepares for potential swine flu outbreak
The financial services industry is armed with contingency plans if the swine flu begins to spread among its ranks.
Ex-GunnAllen, Ameriprise broker could serve 23 years in prison
A former GunnAllen Financial Inc. and Ameriprise Financial Services Inc. broker pleaded guilty this month to two federal charges, one of mail fraud and the other of filing a false tax return, and he faces up to 23 years in prison when he is sentenced in September.
Finra hits Scottrade with $600K fine for loose oversight
The Financial Industry Regulatory Authority Inc. last week fined Scottrade Inc. $600,000 for failing to have adequate anti-money-laundering procedures in place to detect and report suspicious transactions.
