Compliance
FINRA Foes Look To The Supreme Court To Lay Down The SRO Law
- Details Category: Regulatory
Think tanks and at least one brokerage firm have raised their eyebrows at how FINRA was created back in 2006, and now they want the Supreme Court to take a stand as well.
It's Official: The SEC Is Checking ADV Claims And Punishing "Creative" Errors
- Details Category: Books & Records
Yes, the SEC really is reading Form ADV disclosures now and comparing them to reality. One firm is currently facing a cease-and-desist order after allegedly inflating its AUM by several orders of magnitude.
No Progress? 2011 Ends With The Same Regulatory Questions Advisors Were Facing 12 Months Ago
- Details Category: Registered Investment Advisors
SEC-registered advisors are closing out 2011 in almost exactly the same fundamental position as they started it: with minimum clarity on who will regulate them in the future.
In December 2010, the Financial Planning Coalition was begging the SEC to keep advisory firms under its supervisory umbrella.
Twelve months later, no change. We still don't know whether the SEC will unload its RIA monitoring responsibilities to a self-regulatory organization -- probably FINRA, at this point -- or come up with another solution.
All advisors really know at this point is that compli
Previous "Safe Harbor" Practices May Not Be Adequate In 2012, Compliance Guru Says
- Details Category: Registered Investment Advisors
Advisors who thought they were doing everything right may get a rude awakening next year, according to noted securities lawyer Tom Giachetti.
Insurance Broker Aon Pays $16 Million To Settle Charges That It Bribed Prospects To Sign Up
- Details Category: Regulatory
A rare example of the punishment being worse than the alleged crime: Aon has agreed to pay more than $16 million to settle charges that it bribed foreign bureaucrats to secure $11 million in insurance business.
