Registered Reps
Explaining Complex Products Is Crucial, As Santander's $2 Million Fine Proves
Again and again, advisory firms are getting punished for having sold non-experts products too complex for anyone to understand intuitively.
Private Placement Crackdown Spreads Beyond Securities America
More fines for firms and individual brokers who sold the investment products that ended up dragging Securities America into the courts and eliminated other broker-dealers entirely.
Consulting Group Sees New Fiduciary Rule Ending The Existing Sales-Based Model
Most people talking about the implications of a universal fiduciary standard have stuck to the short term. Financial Research Corp. recently went beyond the here and now to confirm a few suspicions.
Ex-Merrill Exec Gets Only $1 Million From FINRA
Ahmass Fakahany wanted $70 million from Merrill Lynch for being replaced unceremoniously by John Thain as (then) co-president at the end of 2007. He got $1 million.
Securities America Loses $400 Million Private Placement "Poverty" Plea
A federal judge has ruled that despite Securities America's claims that it doesn't have the cash to make good on its clients' losses in a bad private equity placement, the claims are valid and can proceed.
