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Registered Rep. January 1, 2005 David A. Gaffen	Third Time Is a Harm A NASD proposal first announced in 2003 requires that reps with three or more formal complaints against them receive extra supervision from their firms. Most major broker/dealers are already operating as if the rule were in place.
Registered Rep. February 1, 2006 Kristen French	Both Sides Now Brokers who hold dual licenses -- both the Series 7 and Series 65 licenses -- will have to take fiduciary responsibility on some accounts. But they can also sell investments, after they make it crystal clear that they're doing so.
Registered Rep. April 1, 2008 John Churchill	The Failure Chain Consider the curious and rather grotesque case of Gary J. Gross, a financial advisor from Boca Raton, Fla. Gross' U4 is close to 100 pages long, and lists 35 customer complaints.
Registered Rep. July 1, 2004 Gregg Wirth	It's the Advice, Stupid The NASD's probe definitely has many brokers and branch managers in the industry nervous. They are unsure exactly what regulators are looking for, what constitutes a violation and what, if any, penalties could be levied.
Registered Rep. September 3, 2003 David Gaffen	NASD: Brokers With Complaints Need A Watchful Eye Heed the red flags. This is the thrust of a new NASD proposal that would require brokerage houses to devote extra supervision to reps with extensive numbers of complaints or regulatory actions against them.
Registered Rep. November 1, 2006 Susan Konig	A Big Trade Off? For advisors looking for further independence through a registered investment advisory firm, compliance burdens can increase. Reps working under an independent b/d's umbrella RIA, also known as "dually registered" advisors, must comply with both NASD and SEC rules.
Financial Planning June 1, 2005 Juliette Fairley	FP50: Angst Over Compliance As financial advisory firms struggle to manage a raft of new regulations, they are banding together to rein in the rule-makers.
Financial Advisor June 2004 Tracey Longo	Compliance Overload A white-hot regulatory agenda is bedeviling independent broker-dealers in the U.S.
Registered Rep. September 1, 2005 Karen Donovan	Under Siege Executives of broker/dealer firms are not exaggerating when they say it seems like regulators are locked into a competitive battle to collect the most pelts on Wall Street.
Registered Rep. April 1, 2007	Turf Wars Over Advice The age-old debate between the b/d and investment advisor (RIA) industries over who should be able to provide advice and when, and whose regulatory regime offers better investor protections, is far from over.
Registered Rep. March 1, 2008	Client Complaints: To Report Or Not To Report When a registered rep should report client complaints.
Registered Rep. August 1, 2004 Will Leitch	The Reformation When the scandal craze that has gripped the securities industry first began two years ago, few in the industry recognized how deep it might go.
Registered Rep. September 28, 2004 David A. Gaffen	The NASD Has Clients' Number The organization will be increasing its use of unsolicited phone calls to clients within the course of investigations into broker/dealer activities -- including calls to clients who have not lodged complaints, which has angered executives.
Registered Rep. October 1, 2005 John Churchill	Growth at a Price While nobody is accusing GunnAllen of running a crooked business, the firm's growth strategy has translated to a reputation for hiring a relatively high proportion of reps with heavily marked up U4s, including some who have received criminal complaints.
Financial Advisor April 2004 Tracey Longo	Wanted: Real Disclosure Rules on brokers compensation disclosure are changing---but slowly.
Registered Rep. February 1, 2005 Pam Black	Why More Reps Are Getting Their Kicks on Route 66 What's driving top reps to Series 66 RIA designation is not regulatory rules. It's changes in the wirehouse environment that, newly minted RIAs say, made it harder for them to do their own thing.
Registered Rep. September 1, 2004 Anne Field	The Weight of Words It's a paradox confronting brokers all over the country: In a business climate that calls for ever-increasing advisor-client intimacy, financial professionals are measuring their words more carefully than ever.
Registered Rep. March 2, 2006 John Churchill	NASD Promotes Its Online Education Program Called the E-learning Exchange, the NASD created the online education tool for reps and firms last May in order to help securities firms head off compliance and regulatory problems before they start.
Registered Rep. April 1, 2005 Luxenberg & French	A Pile of Reasons Regulators and broker/dealer management have gone overboard with mutual fund disclosure. Take the case of the B-share class of mutual funds.
Registered Rep. October 1, 2004 David A. Gaffen	From Top Dog to Compliance Monkey Many branch managers at full-service broker/dealers around the country have found in recent years that their old role as branch manager has diminished, as more business decisions are made by headquarters.
Financial Advisor June 2005 Raymond Fazzi	Regulatory Challenges Top Broker-Dealer Agenda Rarely has the potential of the financial advisory business, with a huge demographic wave of baby boomers approaching retirement, looked brighter. But never has the regulatory climate been more challenging.
Registered Rep. November 1, 2005 Christopher O'Leary	A Crusade Against Indies? Regardless of whether going independent means a more regulatory scrutiny or not, advisors thinking of going out on their own need to understand just how much work such a move will entail in terms of keeping up with the ever-changing world of regulations.
Registered Rep. June 1, 2005 Karen Donovan	No More Slap on the Wrist Regulators are getting tough and creative on registered reps because they suspect that fines aren't a strong enough deterrent to stop illegal behavior.
Registered Rep. April 7, 2005 Kristen French	NASD Advocates More Disclosure, Less Paper Broker/dealers and their reps may get a big break on point-of-sale disclosure if the Securities and Exchange Commission heeds recent NASD advice.
Investment Advisor June 2007 Kathleen M. McBride	Interesting Times Independent broker/dealers find opportunity in the face of changing winds.
Registered Rep. August 1, 2004 David A. Gaffen	The Cost of (Financial) Malpractice Insurance In this environment, the level of insurance, specifically called errors and omissions insurance, has become a more important factor in chosing a broker/dealer.
Financial Advisor June 2006 Tracey Longo	Is Any Stone Unturned? Is the NASD's regulatory clampdown over? Major changes are in place at the sales force level.
Registered Rep. February 1, 2006 John Churchill	Size-ism? Ten years after the formation of the Small Firms Advisory Board, many small firms say they are still getting pushed around by bigger firms -- and this time the NASD is taking the side of the bullies.
Registered Rep. May 1, 2004 Will Leitch	Out, Damn Spots Already, stockbrokers have located a loophole in a NASD instituted a rule meant to prevent stockbrokers from, in effect, buying their way out of client complaints.
Registered Rep. August 29, 2014 Diana Britton	One Strike, You're Out When it comes to the world of independent broker/dealers, the Financial Industry Regulatory Authority is cracking down. Its stated 2014 priority is to focus its regulatory firepower on "high-risk" brokers.
Registered Rep. March 24, 2005 Kristen French	Mutual Fund Enforcement Picks Up Steam On March 23, the SEC and NASD handed out fines in mutual fund-related punishments totaling more than $80 million to five firms. And that is likely just the beginning of a coming avalanche of similar regulatory actions, legal experts say.
Registered Rep. June 1, 2004 Will Leitch	Accused A recent mutual fund scandal at Edward Jones causes a temporary hiccup in the firm's reputation.
Registered Rep. February 27, 2004 David A. Gaffen	Regulators, Industry Still Divided On Mutual Funds David Brown, bureau chief of investment protection in the New York Attorney General's office, said insurance companies who sold mutual funds wrapped in variable annuities, along with banks and law firms, may end up becoming targets of Eliot Spitzer's ire in coming months.
Registered Rep. December 1, 2004 Will Leitch	SOS It is an ominous time for small broker/dealers, for everyone from the chairman to the local rep. As always, the best way through the uncertainty is ingenuity.
Registered Rep. May 1, 2007	The Great Reckoning Whatever the specific business impact the Merrill Lynch ruling may have, many see the return to pre-1999 rules as a chance for the brokerage industry, which has long avoided fiduciary duty for business and regulatory reasons, to overcome those obstacles and embrace it.
Registered Rep. November 4, 2004 David A. Gaffen	Serenity Reigns in Boca Raton Perhaps it was the recent victory of President Bush that heartened this business friendly crowd, or the tranquil Boca Raton setting, but the annual Securities Industry Association conference exudes an oddly serene tone.
Wall Street & Technology September 23, 2005 Ivy Schmerken	Securities Police Go High-Tech NYSE Regulation's technology push may be the best-kept secret on Wall Street. Over the past few years, the self-regulatory organization has been expanding and improving its intranet-based capabilities to make information and analytical tools electronically available to examiners.
Registered Rep. September 1, 2004 Namita Devidayal	A Fitting Problem Having found the securities industry severely wanting in its policing of research conflicts, market-timing and fee disclosures, the regulators are looking to see if similar abuses exist in the insurance industry.
Registered Rep. April 8, 2005 John Churchill	`Merrill Rule' Debate Not Over The SEC unanimously voted to allow Series 7 holders, or registered reps, to position themselves as financial advisors -- with certain caveats. But once again the SEC seemed to hedge its bet. So the debate rages on.
Registered Rep. December 14, 2005 David A. Geracioti	NYSE Regulators to Member Firms and Reps: We Are Watching You Broker/dealers had a very strong 2005. But so too did the regulators.
Registered Rep. February 11, 2004 John Churchill	Dueling Trend Lines on Complaints Brokers have become more attuned to investor complaints in recent years, but they must be forgiven if they're having a hard time drawing conclusions from the trend numbers reported by regulators.
Wall Street & Technology January 6, 2006 Ivy Schmerken	Everything's Coming Up Hybrid Will a joint NYSE - NASD regulator result in the $100 million-a-year savings that the NASD is proposing in the hybrid regulation of dual member firms?
Registered Rep. March 1, 2006 Kristen French	The Best of Both Worlds Advisors say the broker/dealer-RIA hybrid model gives them freedom to choose what products, services and fees are best for their clients.
Investment Advisor March 2006 Melanie Waddell	Piling On Keeping up with compliance chores will continue to occupy a substantial portion of advisors' time, as industry officials and observers are steadfast in their belief that regulatory scrutiny by the SEC and NASD isn't going away.
Registered Rep. May 1, 2005 Kristen French	Scandal Scorecard: Mutual Funds on Top With the SEC and NASD recently levying more than $80 million in fines to five firms (for transgressions related to revenue sharing and B shares), mutual fund sales practices officially sit on the front burner.
Registered Rep. October 1, 2004 John Churchill	BrokerAdvisor BrokerAdvisor Let's Call the Whole Thing Off! The Financial Planning Association and some consumer groups are in court in an effort to block brokers from introducing themselves tp prospective clients as finanical advisors or financial consultants.
Wall Street & Technology July 27, 2004 Jessica Pallay	Analyzing AML Audits After years of preparation, regulators are ready to see the fruits of Wall Street's hard work on anti-money laundering.
Registered Rep. November 1, 2005	Supplemental Inquiry Q: Is there any way my employer can find out if I receive W-2 income from other sources... Q: Recently at a social event, a co-worker's client told me another local broker (who is a competitor) had made some disparaging remarks about my co-worker... etc.
Registered Rep. August 1, 2005 Matt Barthel	The Ten to Watch 2005: Learning to Live With the New Normal Lately, there is a palpable sense of acceptance in the brokerage industry that the new regulatory climate is likely to be a permanent one. Heralds of the new order: John Mack... Chris Cox... etc.
Registered Rep. March 1, 2008 John Churchill	Fix Advisor Laws! Laws should reflect the fact that the differences between registered reps and registered investment advisors have largely evaporated.