Social networking made the list of advisors' biggest compliance headaches this year. So did pay-to-play political contributions, data security, custody, and advertising issues.
A Philadelphia advisor has agreed to pay "clients, friends, and family" back millions that he allegedly took to fund his own activities under the guise of finding socially responsible investment opportunities.
An Amarillo insurance salesman has confessed to writing $5 million worth of nonexistent "private" annuity contracts and could be sentenced to spend over a century in prison.
After being fined $1.7 million for failing to monitor a rep who was apparently churning an elderly client's annuity portfolio, Raymond James is fighting the arbitrators on what looks like technical grounds.
The SEC took a close look at how brokers have been selling structured products and the "due diligence" charge that almost brought down Securities America doesn't appear once in the final report.
Regulatory compliance and advertising review services.
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