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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.   |
Investment Advisor
March 2009
Melanie Waddell |
When It Pays to Fight City Hall An annual analysis of litigated disciplinary proceedings brought by the SEC and FINRA against broker/dealers and registered representatives shows that it sometimes pays for B/Ds and reps to litigate against the regulators. |
Registered Rep.
July 1, 2005
Christopher O' Leary |
The Fund Family That Said No While in the past few years many funds sued by regulators have been quick to settle, American, the second-largest fund family in the U.S. with $650 billion in assets is fighting back. |
Registered Rep.
July 30, 2003
Will Leitch |
SIA Says "Me Too" on Sales Fee Investigations Amid the brewing investigations into mutual fund sales practices, the Securities Industry Association came out last week in support of the new Joint NASD/Industry Task Force. |
Registered Rep.
June 1, 2008
Christina Mucciolo |
Let's Litigate Here's a little news that might interest you: Sometimes it pays to litigate against the Financial Industry Regulatory Authority (FINRA, formerly NASD) rather than settle. |
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. |
Registered Rep.
May 1, 2004
Anne Field |
Et tu, 529 Plans Both the NASD and the SEC have revealed they are separately investigating yet another area within the financial services sector: 529 college savings plans. |
Investment Advisor
July 2008
Elizabeth D. Festa |
Fight the Power You can take on the Financial Industry Regulatory Authority (FINRA) and actually come out better than if you had settled. |
Registered Rep.
May 11, 2011
Diana Britton |
CPA Panel: Regulators Taking B/D Accounting Data More Seriously The Financial Industry Regulatory Authority and the Securities and Exchange Commission are stepping up their scrutiny of the accounting and audit process of broker/dealers. |
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. |
Bank Systems & Technology
July 5, 2004
Ivan Schneider |
SEC to Banks: Selling Securities? Get a License Industry convergence slowed by multiple regulators and accounting system limitations. |
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. |
Registered Rep.
July 1, 2005
Bill Singer |
An Industry in Need of Counseling The relationship between regulators and the brokerage industry lately resembles that of a long-term union that's hit the rocks, and the pair could benefit from opening up a little more to each other. |
Registered Rep.
October 19, 2007
Karen Donovan |
Don't Settle With Regulators--Litigate, Says Sutherland Et Al. (That Figures, Regulators Retort: Lawyers Would Say That) You may lose in arbitration, but the punishment may be less than you would have received in a settlement. |
Investment Advisor
March 2007
Melanie Waddell |
States' Rights The North American Securities Administrators Association's agenda includes preserving state regulators' authority. |
Registered Rep.
September 18, 2007 |
Cease and Desist Order Looms for NEXT Financial Group The Securities Exchange Commission issued an Order Instituting Cease-and-Desist Proceedings against the independent broker/dealer late last month. |
Registered Rep.
January 1, 2005
Will Leitch |
529 Plans in the Crosshairs To virtually no one's surprise, regulators have begun scrutinizing how 529 plans are peddled. |
Registered Rep.
December 1, 2006
Kevin Burke |
SEC Chairman Endorses Single SRO Now that SEC Chairman Christopher Cox has made creating a single SRO for the brokerage industry a top priority, why are some suddenly wondering if it's a good thing after all? |
The Motley Fool
May 20, 2004
Tim Beyers |
American Express Unit in Scandal The broker could be a target of a regulatory inquiry into mutual funds revenue-sharing. How can you tell if your own broker or advisor has a conflict of interest? |
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.
March 14, 2012
Diana Britton |
SEC Goes After Venture Capital B/D Over Sale of Facebook Shares The Securities and Exchange Commission has filed charges against New York-based venture capital broker/dealer Felix Investments and the firm's founder Frank Mazzola. |
Registered Rep.
October 13, 2005
John Churchill |
Market-Timer Banned and Fined Theodore Sihpol III, the former broker at Banc of America Securities (BAS) and poster boy for the market-timing scandals, agreed to pay a $200,000 fine and to accept a five-year ban from the securities industry. |
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. |
On Wall Street
May 1, 2013
Cumming & Horwitz |
SEC Takes on Structured Notes Large banks need to provide better information on these complex securities sold to the wealthy, regulator says. |
Financial Advisor
January 2004
Jay Gould |
Washed Up On The Banks Of Denial The SEC has changed its policies regarding anti-fraud consent injunctions. How should investment advisors react? |
Registered Rep.
May 14, 2007
Kevin Burke |
NASD Chair Sees Better Oversight of New Products Mary Shapiro told mutual fund executives she sees better regulation of investment products as a result of a merged NYSE and NASD. While this may be better news for investors, purveyors of mutual funds may find themselves in the crosshairs. |
Registered Rep.
October 20, 2004
Will Leitch |
Tough Talk at SIA Mutual Fund Conference NASD Chairman and CEO Bob Glauber blasted the mutual fund industry for trying to shift the focus of SEC regulation away from the people it was intended to protect: the investors. |
Registered Rep.
April 1, 2005
Bill Singer |
Two-Tiered Justice? A recent SEC report shows that the NASD is far less enthusiastic about policing itself --- despite the fact that such self-regulation is part of its charter. |
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.
January 8, 2003
Ross Tucker |
SIA Urges No Change to Branch Office Definition The SIA has expressed serious concerns over proposed changes by the NYSE and SEC that would alter the qualifications by which a broker/dealer office is considered a branch office. |
Registered Rep.
November 1, 2005
John Churchill |
Market-Timer Banned and Fined Theodore Sihpol III, a former broker at Banc of America Securities (BAS), and poster boy for the market-timing scandals -- and the first target of Spitzer to say no to a plea offer -- has settled with the SEC. |
Registered Rep.
December 15, 2005
John Churchill |
Court to NASD: You Don't Have a Leg to Stand On For the first time in its 68 years as a self-regulatory organization, the National Association of Securities Dealers sued the Securities and Exchange Commission over a right it was never granted. Guess what? It lost. |
Registered Rep.
January 13, 2006
Halah Touryalai |
SEC Displays Enforcement Commitment in Leveling Record Penalty Daniel Calugar, a former Las Vegas stock trader, settled with the SEC regarding charges involving market timing and late trading of mutual funds. The settlement will require him to pay a record $153 million in penalties. |
Investment Advisor
June 2007
Kara P. Stapleton |
News & Products NASD has fined two Fidelity broker/dealers for preparing and distributing misleading sales literature... The broker/dealers of ING plan to lower fees that their advisors pay on two core advisory programs... etc. |
On Wall Street
July 1, 2009
Mark Astarita |
The SEC's "Feel Good" Committee The Securities and Exchange Commission announces the formation of an Investor Advisory Committee, which it says will give investors a greater voice in its work. |
InternetNews
May 17, 2004
Colin C. Haley |
Lucent Settles SEC Complaint The company looks to eliminate distractions in an improving climate for network equipment. |
Registered Rep.
June 1, 2004
Bill Singer |
The Downside to the Rube Defense Time was, the perfect stockbroker was equal parts salesman and stockpicker, but these days you have to throw a good measure of lawyering into the mix. Anthony Barkate's problems came from relying on bad legal advice about whether an instrument was technically a "security." |
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. |
On Wall Street
October 1, 2009
Thomas O. Gorman |
SEC v. Bank of America: Where to Go From Here? The SEC thought it had completed an investigation, brought an enforcement action and then settled it. |
Registered Rep.
January 30, 2007
Halah Touryalai |
At Independent B/D Confab, Optimism and Skepticism The head of the Financial Services Industry Institute is feeling a little more comfortable with regulators. But, on the other hand, the chairman of the FSI also warns that the combining of the NYSE and NASD might create a power struggle among "second-level" regulatory staffers. |
CFO
February 1, 2005
Ronald Fink |
Finders Keepers The SEC is hearing new demands to make it easier for small companies to raise capital. |
Registered Rep.
September 21, 2005
Susan Konig |
Rogue Broker's Management Culpable Raymond James Financial Services (RJFS) was ordered to pay a $6.9 million fine to the SEC for failing to supervise Dennis Herula, a former broker who is currently in prison after pleading guilty to federal charges of fraud. |
Registered Rep.
March 27, 2006
Kristen French |
SEC Targets Investment Traps Set For Seniors The move against the "free lunch," as they are generally called, is part of a larger initiative launched to protect senior citizens from investment scams and unsuitable recommendations. |
CFO
May 1, 2005
Lori Calabro |
In Your Own Defense Why representing finance executives in lawsuits is both an art and a science. |
Registered Rep.
February 9, 2007
Kevin Burke |
SEC Big Says Waiver Tactics Can Backfire An SEC commissioner today said that asking broker/dealers and investment advisory firms to waive their legal right to attorney-client privilege in order to speed up the pace of enforcement investigations is shortsighted. |
CFO
January 30, 2004
Tim Reason |
Cheese It, the States! Corporate wrong-doers are finding state cops more aggressive than the feds. |
The Motley Fool
November 22, 2006
Selena Maranjian |
What's a Cold Call? How to identify stock broker cold callers, what to say to them, and when you should just hang up. |
Registered Rep.
March 25, 2011
Diana Britton |
Securities America Negotiates With Plaintiffs; Saga Continues Securities America met with plaintiff's attorneys to negotiate a resolution to investor claims against the company related to its sale of allegedly fraudulent private placements. |
The Motley Fool
February 23, 2004
Selena Maranjian |
Tell the SEC What You Think Help the Securities and Exchange Commission disclose Wall Street's conflicts of interest by giving feedback on their proposed rule changes for mutual funds. |
BusinessWeek
May 20, 2010
Jesse Westbrook & David Scheer |
How Big a Hit Will Goldman Take? Congress and the public expect the SEC to extract a big fine |
