Compliance
Fiduciary Rule For Brokers? Not Dead Yet Say Advisors
- Details Category: Registered Investment Advisors
Contrary to published reports the fiduciary rule for brokers isn’t dead yet.
Or at least that’s what a handful of advisers who hold themselves out to be fiduciaries are saying, or at least hoping.
“It would be a mistake to interpret a period of quiet or pause in Securities and Exchange (SEC) public action on this issue as if 'it's over,'” says Kathleen M. McBride, AIFA, an accredited investment fiduciary analyst and founder of FiduciaryPath. “Progress has not stopped on the fiduciary standard -- this very crucial standard of care for investors. It may be ta
Broker Says Record That Shows Investor Complaints Totaling $1.4 Million Should Be Expunged Out Of Fairness And A California Appeals Court Agrees
- Details Category: Registered Reps
The Financial Industry Regulatory Authority says that stringent criteria must be met before a broker can have a complaint from a client expunged from his or her record. On August 23, a California court completely upended that requirement.
Advisor, A Prominent Utah Republican Fundraiser, Suspended As CFP After Being Charged With Sexually Assaulting Five Women
- Details Category: Regulatory
Gregory N. Peterson, an independent advisor and prominent Republican fundraiser in Utah, had his right to use the CFP mark suspended yesterday, but that's the least of his problems five weeks after being charged with sexually assaulting four women and a fifth woman came forward with similar allegations.
SEC Agrees To Propose Rule With 30-Day Comment Period That Would Allow Issuers Of Private Investors To Advertise To The Public
- Details Category: Regulatory
The SEC voted Wednesday to fulfill one of the mandates of the JOBS Act (Jumpstart Our Business Startups) by allowing hedge funds and other issuers of private securities to advertise those offerings to the public.
No Criminal Case Likely In $1 Billion Loss At MF Global; Is America Any Better At Policing Corporate Corruption Than China?
- Details Category: Regulatory
According to a report in today’s New York Times, a criminal investigation into the collapse of the brokerage firm MF Global and disappearance of about $1 billion in customer money is in its final stages and no criminal charges are expected against any top executives, including New Jersey’s former Governor who ran the firm.
“Investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear,” says The Times.
Do you buy that? Can $1 billion get misplaced accidentally without criminal int
More Articles ...
- FINRA Conducting Swath Of Investigations To Get To Know Broker-Dealer Practices
- SEC's Schapiro Steps Up Efforts To Ensure Integrity And Capacity Of Computer Program Traders
- Government Accountability Office (GOA) Says FINRA Should Review 10 Of Its Rules
- Bachus Backtracks After Democrats Introduce Bill Saying SEC Should Regulate RIAs; A Surprising Turn Of Events But Debate Will Likely Drag Into 2013
