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Registered Rep.
July 8, 2011
Diana Britton |
A Cautionary Tale: How One Arbitration Can Topple A Firm With small independent broker/dealers blowing up left and right, it's become that much more important to know what kind of compliance regime your firm has and who your colleagues are.   |
Registered Rep.
July 25, 2011
Diana Britton |
Another IBD-Seller of Private Placements Goes Belly Up Meadowbrook Securities, another independent broker/dealer that sold problematic private placements by Medical Capital and Provident Royalties, has gone belly up. |
Registered Rep.
May 5, 2010
Kristen French |
Small B/Ds in A Crunch, Expect More Closures, Mergers In 2010 Squeezed by investor lawsuits, rising compliance and insurance costs, as well as departing advisors and clients, some of the industry's smallest independent broker/dealers are struggling to stay afloat. |
Registered Rep.
June 7, 2011
Diana Britton |
Advisor Group in Talks to Acquire Smaller B/D Independent broker/dealer network Advisor Group is talking to a number of small and mid-sized broker/dealers that the company would consider purchasing. |
Registered Rep.
March 2, 2012
Diana Britton |
Reversal of Fortune: IBD Wins Arbitration Case Two principals of former independent broker/dealer WFP Securities Corporation were awarded $135,000 yesterday, a rare reprieve in the recent deluge of arbitration claims against the firm, and other IBDs, over risky investments in private placements and non-traded REITs. |
Registered Rep.
June 15, 2011
Diana Britton |
Another IBD Bites the Dust After Selling DBSI Independent broker/dealer Alternative Wealth Strategies in Cherry Hill, N.J., has gone belly up. |
Registered Rep.
November 7, 2011
Diana Britton |
Ladenburg Thalmann's Acquisition of Securities America a Done Deal Ladenburg Thalmann has closed the deal to acquire independent broker/dealer Securities America from Ameriprise Financial. |
Registered Rep.
November 29, 2011
Diana Britton |
FINRA Strikes Again: Eight B/Ds Busted for Sale of Private Placements The Financial Industry Regulatory Authority continues its crackdown on the sale of troubled private placements, filing sanctions against eight firms and 10 individuals Tuesday and ordering them to pay restitution to investors. |
Registered Rep.
February 2, 2015
Diana Britton |
Industry Will Lose 300 More B/Ds By 2016 Though the closure rate of FINRA-registered broker/dealers is slowing down, the number of firms is expected to decline from 4,154 at the end of last year to 3,800 by the end of 2016. |
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. |
Investment Advisor
June 2010
Thomas D. Giachetti |
Independence's Issues There are four main challenges faced these days by independent broker/dealers. |
Registered Rep.
June 27, 2011
Diana Britton |
The Good, the Bad and the Ugly It seems like every week, another independent broker/dealer goes under or up for sale because of a bad private placement or other problematic alternative investments. All that turmoil has left a pool of advisors out in the cold, looking for new firms to call home. |
Investment Advisor
March 2009
James J. Green |
Broker/Dealer Briefing: A Shot Over the Bow FINRA is quietly conducting a sweep of broker/dealers that could be the first steps to having the SRO take over regulation of registered investment advisors from the SEC -- something the former NASD has long desired. |
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.
April 25, 2011
Diana Britton |
Ameriprise to Shed Securities America Amid Pending Settlement The company plans to sell its independent broker/dealer unit Securities America, while the firm is still in the process of finalizing a settlement with investors claiming SAI sold allegedly fraudulent private placement. |
The Motley Fool
May 11, 2011
Selena Maranjian |
Sneak a Peek at Your Broker's Record Find out whether your broker has been in trouble. |
Investment Advisor
May 2008
Melanie Waddell |
Donohue on the Rand Report & Paulson SEC exec doesn't foresee a single regulator for advisors and broker/dealers. |
Investment Advisor
October 2008 |
News & Products, October 2008 The SEC announces an enforcement action against LPL Financial Corp... ING Advisors Network announced a reorganization... Ameriprise Financial has signed an agreement to acquire H&R Block Financial Advisors... etc. |
Registered Rep.
March 28, 2011
Diana Britton |
Securities America Nears Resolution With Plaintiffs Securities America has made "substantial progress" in its mediation with plaintiffs' attorneys involved in class action suits against the independent broker/dealer. |
Registered Rep.
June 1, 2012
Diana Britton |
Breaking Out: A New Era in Insurance Insurance firms constantly go through cycles of acquisition and sale when it comes to their broker/dealer subsidiaries. But the current sell cycle is different, and it may shake up how the business works. |
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.
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. |
Investment Advisor
June 2009 |
B/D News & Products Important news for broker/dealers: The Financial Industry Regulatory Authority (FINRA) is proposing a major expansion of its BrokerCheck service... Fraud charges against several entities and individuals who operate the Reserve Primary Fund... more... |
Registered Rep.
January 15, 2009 |
Schapiro's Replies: Blame The SEC--Not FINRA--For Madoff It wasn't her job, man. |
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. |
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.
February 2, 2006
Kristen French |
Brokers Learning to Play by New Rules It's no longer business as usual on Wall Street. Starting yesterday, broker/dealers must follow a new SEC rule that requires them to disclose at certain times that they may not be acting in their clients' best interest. |
Investment Advisor
September 2008
Eric Schwartz |
B/D or RIA? The Case for the Flexible B/D How independent broker/dealers and advisors can thrive by leveraging the trends of the future. |
OCC Bulletin
September 5, 2002 |
Investment Portfolio Credit Risks: Safekeeping Arrangements This guidance alerts banks to the potentially significant credit risks they incur when safekeeping investment portfolio assets with third parties, such as brokers, broker/dealer firms and banks. |
Investment Advisor
July 2010
Melanie Waddell |
A Whirlwind of SEC Activity Harmonization of advisor and B/D rules will move forward. |
Registered Rep.
August 24, 2012
Diana Britton |
The New Velvet Rope? B/D Admissions Down Dramatically It's become increasingly difficult for small broker/dealers to break into the business, as regulations increase. |
Investment Advisor
December 2009
Melanie Waddell |
Danger & Opportunity: Staggering Toward Reform Investor Protection Act passes with lots of fiduciary-related amendments; action on Dodd not likely until 2010. |
Investment Advisor
September 2008
Melanie Waddell |
Whither the Independent B/D? Securities America's acquisition of Brecek & Young is yet another sign of dwindling independent broker/dealers. |
Registered Rep.
June 19, 2012
Diana Britton |
Whose Suitability Standards? In early 2011, the SEC completed a study, mandated under Dodd-Frank reform legislation, which recommended extending to brokers who advise retail clients the same fiduciary standard that now applies to investment advisors. |
Investment Advisor
July 2007
Melanie Waddell |
Protect Yourself It's an annoying but necessary task: here's the latest intelligence on how to guard your financial practice from both the regulators and your clients. |
Financial Planning
July 1, 2011
Donna Mitchell |
Hot Topics FINRA steps in... $80 million settlement of two class-action suits by Securities America... Whistleblower payday... |
Registered Rep.
February 19, 2010
Christina Mucciolo |
FINRA Seeks to Expand BrokerCheck, Make Some Records Permanent The Financial Industry Regulatory Authority announced it is seeking the SEC's approval to expand the amount of information made public on current and former brokers' permanent records in its free online CRD database, BrokerCheck. |
Registered Rep.
May 7, 2010
Kristen French |
Bulk Up On Disclosure, Shock Aborbers Needed, Says Ketchum The industry must move forward to improve the quality and kinds of disclosures firms provide to clients, particularly disclosures about the services provided. |
Registered Rep.
June 17, 2009
Christina Mucciolo |
The Fiduciary Battle Continues, Now Under Federal Microscope Among other measures, the Obama administration proposed today that the Securities and Exchange Commission require that broker-dealers offering investment advice be held to the fiduciary standard rather than the suitability standard. |
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.
January 3, 2008
Christina Mucciolo |
SEC's RAND Study Released The SEC release the results of the RAND study, which examined how broker/dealers and investment advisors market products and services to investors, and how investors understand the differences between investment advisors and broker/dealers. |
Registered Rep.
June 24, 2011
Ed Mason |
Acquiring a B/D? Use This Checklist. Attention early in the process to the unique regulatory concerns impacting broker/dealer M&A will increase the probability of parties successfully navigating a path to closing and, ultimately, a successful acquisition. |
Investment Advisor
June 2008
Philip Palaveev |
The New Model: The Fee-Only Broker/Dealer Independent broker/dealers must tackle head-on the causes of their frustration if they wish to survive. |
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. |
Registered Rep.
April 2, 2014
David Armstrong |
Editor's Letter: April 2014 Larry Doyle's recent book, In Bed With Wall Street: The Conspiracy Crippling Our Global Economy, elevates and sharpens the case against Wall Street's model of self-regulation. |
Investment Advisor
March 2010
James J. Green |
B/D News Bulletins and news of interest to broker/dealers from FINRA and the SEC. |
Registered Rep.
September 21, 2007
Halah Touryalai |
Banks Officially Welcomed into the Brokerage World Under New SEC Rule It only took eight years, but the SEC and the Board of Governors of the Federal Reserve System passed final rules defining how banks can act as securities brokers. |
Registered Rep.
March 30, 2007
John Churchill |
Surprise! FPA Wins Lawsuit Against SEC and the Broker-Dealer Exemption Three years after suing the SEC over the controversial "Broker Dealer Exemption" rule, a federal court has ruled that the SEC exceeded its authority in adopting the rule. |
Registered Rep.
September 7, 2011
Diana Britton |
Seven B/Ds Sign on With Erado for Interactive Social Media Use The partnerships will allow these firms' reps to post interactive content to Facebook, Twitter, and LinkedIn without pre-approval by their compliance departments. |
Investment Advisor
June 2009
James J. Green |
Best of Times, Worst of Times Securities America and Capital Analysts have responded to the financial crisis in quite different ways. But they're also quite similar in how they're proactively changing their business models to help reps and the home office thrive |
