Displaying 138 results
Cost is new front in adviser SRO fight
A report last week claiming that it would cost investment advisory firms more than twice as much if they were overseen by a self-regulatory organization than if the SEC continued its oversight was quickly attacked by SRO proponents.
Scoundrel alert: SEC warns firms to keep a sharp eye out for rogue trades
The SEC wants investment advisers and brokers to take a closer look at certain trading behavior to help…
Broker charged with fraud in MedCap sales
A former stockbroker in Colorado has been criminally charged with securities fraud for selling Medical Capital notes.
SEC targets compliance
The SEC has compliance officers in their sights, but by dismissing a recent case against one of them,…
Rogue trading on rise
Four days after Galleon Group founder Raj Rajaratnam was arrested on insider-trading charges, hedge fund manager Bill Ackman ap-peared before a hotel ballroom full of colleagues and suggested a clever way to profit.
With administrative actions increasing, it’s time to review compliance programs
Last year marked a watershed for fines and other sanctions imposed on advisory firms and their individual principals…
NAIFA’s Robert Miller pushes for compromise on fiduciary issue
Robert Miller isn't a typical member of the National Association of Insurance and Financial Advisors
‘Enforcement wave’ heading for advisers: Ex-SEC official
The SEC's move to step up enforcement actions against investment advisers is only the tip of the iceberg, according to one former SEC official.
SEC, SIPC ready to rumble over Ponzi payouts
The securities industry is watching intently as the Securities and Exchange Commission and the Securities Investor Protection Corp.
States’ probe of death benefit payouts could spawn regs
A continuing three-year, 35-state investigation into the practices by which life insurers pay death benefits may spawn more-stringent requirements for locating beneficiaries
Robert S. Khuzami: Advisers in sights of SEC’s top cop
Robert S. Khuzami has put investment advisers on notice that he has them in his cross hairs.
Mary Schapiro: Massive workload, meager budget
An appearance before the Senate Banking Committee this month summed up the kind of year Securities and Exchange Commission Chairman Mary Schapiro is having.
Long, slow path looms for investment adviser SRO
On Wall Street, fortunes can be made and lost over the course of a trading day, and firms such as MF Global can collapse in a week
Liars clubbed? SEC cracks down on tarted-up ADVs
The Securities and Exchange Commission has started targeting investment advisers who have lied on their registration forms
Frank — the industry’s unlikely new ally
Barney Frank still has game. When Republicans gained control of the House in the 2010 election, the…
NAPFA copes as members are charged
The high-minded, fee-only advisers who lead the National Association of Personal Financial Advisors last week told its members that they are struggling to come to terms with allegations that three NAPFA advisers, including a former leader of the organization, have wronged clients.
Fiduciary timetable pushed back into 2012
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
Most Dodd-Frank adviser changes remain up in the air
The bold new era of regulation that Congress laid out in the Dodd-Frank financial reform law has not arrived — at least not for financial advisers.
Proxy case could haunt SEC, Labor fiduciary rules
Opponents of expanding the fiduciary duty for investment advice have another weapon in their arsenal, following a court decision that chided the SEC for adopting an unrelated rule without conducting a proper cost benefit analysis
SEC gives CFP Board chance to dig deeper on complaints
Investment advisers and brokers hoping to become certified financial planners, or those wanting to renew their certificates, now have to disclose details about customer complaints to the CFP Board of Standards — a change in procedure that will give the organization's enforcement arm more muscle
