Elizabeth
Warren, the Harvard Law School professor appointed to help set up a new
U.S...
by
Dorothy Hinchcliff
A broker who formed his own RIA has been charged with fraud by the SEC for misleading clients so
they would move more than $100 million in assets to his new firm.
by
Ray Fazzi
The SEC has charged a San
Francisco Bay Area advisor with urging his clients to switch assets between related
funds without disclosing that his firm reaped extra commissions as a result.
by
Ray Fazzi
Advisors reveal how they were impacted by the first "Wall Street" movie and protagonist Gordon Gekko's maxim:
"Greed is good."
SEC officials told lawmakers the agency has strengthened its investigations and is pursuing several people linked to the Texas-based executive.
by Bloomberg News
Executives are more likely to end up in court for their employees'
misconduct now that Congress has handed broader powers and more money to
the SEC.
A former Citigroup stockbroker was fined $500 and
received no prison sentence or probation for his involvement in a scheme
to let day traders eavesdrop over brokers'
"squawk boxes."
U.S. regulators accused a Colorado investment advisor of
misleading clients including retirees while marketing hedge funds that
later had losses linked to Bernard Madoff's record Ponzi scheme.
SEC Chairman Mary Schapiro says her agency may
impose new rules on high-frequency traders after lawmakers and investors
questioned whether such traders sparked the May 6 plunge.
by
Ray Fazzi
A New Jersey-based investment advisor has been charged by the
SEC with stealing $11 million from
clients through a Ponzi scheme she ran over the past 13 years.
The Securities and Exchange Commission could be stuck with policing
hundreds of New York-based advisors for longer than Congress envisioned
when it passed financial reform earlier this year.
The appointment of a new mutual fund "czar" could influence key issues in the fund industry.
Stockbrokers and investment advisors are nervous about looming changes
to rules that shape how they give advice to their customers.
by
Jeff Schlegel
A group of four financial advisor organizations,
along with the Committee for the Fiduciary Standard, will jointly
sponsor a forum on the fiduciary standard on September 24 in Washington.
The most thorough compliance programs can't provide iron-clad protection
from employees who are crooks, but they can help a company remain in
good standing with regulators when trouble erupts.
An $81 million ruling against UBS AG's
brokerage provides an indirect message for all advisors to heed in terms of
safeguarding client liquidity.
UBS Financial Services Inc. must pay nearly $81 million to an investor,
Kajeet Inc., for damages related to auction rate securities, according
to a recent ruling.
The SEC wants registered investment
advisors to describe themselves to clients and prospects in plain
English, something likely to require significant time and money.
Many advisors wait until the last minute to sign authorizations that
allow third-party custodians to share clients' positions with the
SEC. That could hold up an SEC examination for months.
by
Dorothy Hinchcliff
The SEC today posted a form for people to
comment as part of its study of obligations and standards that should
apply to broker-dealers and registered investment advisors.
