Concerns about private placement sales to
less-than-sophisticated investors could get aired in Congress yet again.
Regulators have approved a change to stop brokers who have been ordered
to pay an arbitration award from using an empty-pockets excuse to keep
their license.
The arrest of a "financial advisor to the celebs" on fraud charges is
once again putting the issue of establishing and maintaining client
trust front and center.
by
Dorothy Hinchcliff
The SEC today charged a New York
City-based financial advisor who has advised celebrity clients including
Wesley Snipes and Sylvestor Stallone with running a multimillion
investment fraud.
FInra is seeking to expand its
oversight of securities professionals to back-office workers who provide
sales and trading support and handle investor assets.
A securities arbitration panel has ordered Ameriprise Financial Services
Inc. to pay nearly $470,000 to an investor, including sanctions and
legal fees.
Insurance organization's bid to sink the fiduciary standard misquotes, irks SEC commissioner.
by
Ray Fazzi
A proposed fiduciary standard for all financial advisors is back in
play as the U.S. Senate debates financial services reform-and backers
of the measure may have Goldman Sachs to thank.
Two financial advisors and their firm must pay nearly $1.9 million after being accused by the advisors' former employer of allegedly breaching their contract and stealing trade secrets.
by Bill Bachrach
A lack of fiduciary standards for the industry means that you have a competitive advantage when you put the client first.
Finra remains concerned
about the inappropriate sale of annuities to seniors, and its
examinations of firms continue to raise red flags on the issue.
Lloyd Blankfein's support of a fiduciary standard for retail brokers
now seems like nothing more than a bone thrown at financial reformers.
by Suzanne Barlyn
The limited role assigned to the SEC's new compliance chief
may unwittingly help the agency's critics, who have turned up the heat
in response to the government's push for tougher regulations and...
The recent SEC complaint against Goldman Sachs Group Inc. has
brought newfound attention to the "fiduciary standard."
The new director of the SEC's
Office of Compliance Inspections and Examinations says the agency has
ushered in a "new day and a new regulatory approach."
An enforcement case against a small brokerage in upstate New York shows
that fraud may lurk not only on Wall Street, but also off the beaten
track.
by
Ray Fazzi
The Securities and Exchange Commission has charged a California man with
running a fraudulent investment operation that raised $3 million from
the public.
Legislation to reform the financial system not
only proposes regulatory changes, but also asks for lots of studies by the SEC.
by
Dorothy Hinchcliff
For the first time, the CFP Board of Standards is posting sensitive
information online about actual misconduct cases that have come before
it for the public and financial advisors to see.
