Compliance - FA Magazine

Compliance

Monday, 08 March 2010
A key consideration in the review—and rare reversal—of longstanding sanctions against two brokers involved this question: Can one family member adequately supervise another?

First Allied Pays $1.95M In Fraud Case

Monday, 08 March 2010
First Allied Securities Inc. has agreed to pay $1.95 million to settle charges that it failed to supervise a broker who allegedly engaged in fraudulent trading.

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When To Fess Up About Compliance Miscues

Thursday, 04 March 2010
Weighing the risks and rewards of voluntarily reporting compliance lapses to the Securities and Exchange Commission is a tricky issue for investment advisors.

New Law Could Mean Added Security Burden For Advisors

Monday, 01 March 2010
A new Massachusetts law aimed at protecting personal information could ultimately require financial advisors to boost their security measures to protect client data.

Advisors Confused By New Custody Rules

Monday, 01 March 2010
Changes to the SEC's rules about custody of client assets go into effect in two weeks, and advisors say they are still trying to figure out how to comply with them.

Morgan Stanley Sends Message With Broker Suit

Friday, 26 February 2010
Morgan Stanley's suit against employees who left to join HighTower Advisors and its regulatory complaint against the firm are being called a power play to make brokers think twice about leaving.

Registration Could Hurt Single-Family Offices

Tuesday, 23 February 2010
A government move to make U.S. single-family offices register as investment advisors shows how the interests of the super-wealthy are cast aside when they run up against populist measures.

Former Merrill Advisor Pleads Guilty To Stealing From Clients

Friday, 19 February 2010
A former Merrill Lynch financial advisor could face a seven-year prison term after pleading guilty to stealing nearly $700,000 from his clients and spending the money himself.

Public May Get More Access To Broker Records

Friday, 19 February 2010
A Financial Industry Regulatory Authority proposal to significantly expand public information about brokers will fill gaps that remained after earlier changes, say investor advocates.

States Gear Up To Examine More Advisors

Thursday, 11 February 2010
State are eying plans to examine thousands of additional advisors. Can they afford it?

Custody Rules An Issue For Omnibus Accounts

Thursday, 11 February 2010
Advisors who trade clients' securities through omnibus accounts need to ask their qualified custodians a few questions before new SEC custody rules take effect in March.

Risk, Regulation Hot Topics at TD Conference

Tuesday, 09 February 2010
Managing risk and government regulations were the hot topics in the halls of the recent TD Ameritrade Institutional conference in Orlando, Fla.

Raymond James Ordered To Pay $12M

Friday, 05 February 2010
A securities arbitration panel has ordered Raymond James Associates Inc. to pay $12.1 million to Wells Fargo Advisors LLC for alleged raiding.

Investors Target Former Lehman Brokers

Wednesday, 03 February 2010
Some former Lehman Brothers brokers are getting caught in the tide of arbitration cases involving principal-protected notes issued by their parent company.

Advisors Wary Of Wall Street's Leaders

Tuesday, 02 February 2010
The foot soldiers of Wall Street, including thousands of financial advisors, seem deeply ambivalent about how closely lawmakers should listen to their industry's leaders.

Surprise Audits Concern Advisor Trustees

Monday, 01 February 2010
Some advisors who serve as trustees of client accounts are rethinking that role, concerned about new rules that would make them subject to surprise audits.

Planner Group Pushes For Higher Standards

Monday, 01 February 2010
A group of financial planners pushing for regulation of their profession is bracing for a long fight.

Securities America Denies Charges

Thursday, 28 January 2010
Securities America is denying charges in a complaint filed by the Massachusetts Securities Division that says it misled investors when it sold millions in private placement securities.

SEC Votes For More Disclosure On Climate Change Risks

Thursday, 28 January 2010
A divided SEC has voted to encourage companies to disclose the effects of climate change on their business, bringing a partisan debate over global warming into a new arena.

Securities America Charged With Misleading Investors

Tuesday, 26 January 2010
The Massachusetts Securities Division filed a complaint today against Securities America, charging the broker-dealer misled investors when it sold approximately $697 million in promissory notes.


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