Registered Investment Advisors
Why Do So Few RIAs Accept Finra's Invitation To Administer Arbitrations With Clients? It Might Not Be Just Because They Don't Like Finra
Finra, the brokerage industry regulatory body, opened its arbitration system up for RIAs to use in October 2012, but few RIAs have taken Finra up on its offer, even though it would cost less than conducting the arbitration through the American Arbitration Association.
In A Show Of How The SEC Is Tightening RIA Compliance, A Chicago Advisor Is Barred From Securities Business
RIAs better be accurate in disclosing how much money they manage. The Securities & Exchange Commission suddenly seems interested in such disclosures.
Umesh Tandon, 37, owner and chief compliance officer of an Simran Capital Management in Chicago, last week consented to a bar from the securities business for allegedly telling the California Public Employees Retirement System (CalPERS) that his firm managed more than $200 million when Simran actually managed only about $80 million.
One-Time CFP, Long-Time Financial Planner Charged With Stealing Client Money On Top Of Previous Charges Of Tax Fraud
A one-time CFP who was criminally charged with tax fraud in January had his assets frozen yesterday after the Securities and Exchange Commission filed a civil complaint against him, his firm, and his partner accusing them of stealing client money.
Financial Planning Coalition Calls On New SEC Chair To Focus On Fiduciary, Increase Oversight Of Investment Advisers
80% of American investors do not believe the federal government is doing enough to protect “consumers from being taken advantage of” by financial advisers, and 84 percent investors agree that financial advisers should be regulated by the federal government to protect investors and build confidence in financial services, according to a survey from the Financial Planning Coalition.
News Analysis: The Real Story Behind The SEC Warning That It Has Found “Widespread” Violations By RIAs Of The Custody Rule
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations today warned RIAs that it is finding “widespread” non-compliance with the custody rule under the Investment Advisers Act of 1940. But the real story is that the SEC is flexing its muscle and enforcing the custody rule because it never paid much attnetion to this issue before.
More Articles ...
- SEC Staff Says It Will Make Conflicts Of Interest Of Dually-Registered RIAs An Areas Of Focus Of RIA Examinations In 2013
- Give States Oversight And Examination Authority Over RIAs Managing $1 Billion Or Less To Solve The RIA Regulatory Mess
- SEC Chief, Testifying Before Senate, Says Dodd-Frank Replaced 2,250 RIAs And $115 Billion AUM With 1,500 New RIAs Managing $3 Trillion
- Massachusetts Calls On SEC To Prohibit RIAs From Using Mandatory Arbitration Clauses, Saying It Is "Troubling," Widespread And Not Consistent With Fiduciary Practice
