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Financial Advisor
September 2012 |
Finra Fines On Pace To Exceed 2011 Totals Financial Industry Regulatory Authority fines and disciplinary actions for 2012 are on track to significantly outpace those for 2011, according to a midyear review from the law firm Sutherland Asbill & Brennan LLP.   |
On Wall Street
April 1, 2011
Bennett Voyles |
FINRA Prosecutes More But Collects Less The rise in the number of actions could be related to increased regulatory pressure. |
Investment Advisor
August 2010
Marlene Y. Satter |
The FINRA Blotter FINRA news: The law firm of Sutherland Asbill & Brennan completed in early July its annual review of disciplinary actions brought by FINRA. |
Registered Rep.
March 15, 2013
Megan Leonhardt |
A "Tougher" FINRA? FINRA has stepped up the number of cases and the value of fines they levied against advisors last year, but that doesn't neccessarily mean that the indstury's self-regulatory organization is getting any tougher. |
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 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.
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.
December 15, 2011
French & Britton |
Updated: Boston Consulting Group Report: FINRA Twice as Costly SEC for Investment Adviser Oversight According to BCG's report, which was sponsored by firms and groups who support having the SEC oversee investment advisers, setting up FINRA to oversee investment advisers would be twice as costly as giving the SEC the funding it needs. |
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. |
Registered Rep.
January 22, 2009 |
FINRA Frisks Select B/D RIAs FINRA, the Financial Industry Regulatory Authority, emailed a number of broker/dealers recently with requests for information about their RIA units. |
Registered Rep.
October 6, 2011
Andrew J. Haigney |
Opinion: FINRA Is an Ineffective Regulator FINRA, the brokerage industry's self-regulatory organization, finds itself in caught up in the industry's death spiral. This non-government, private corporation's fortunes are tied to brokerage firms. |
Registered Rep.
November 4, 2009
Bill Singer |
Rep. Bachus Slips One In (Not Everyone Is Cheering) Has Capitol Hill taken its legislative legerdemain to new depths? |
Investment Advisor
January 1, 2011
Melanie Waddell |
FINRA Jockeys for SRO Spot as SEC Report to Congress Nears The Financial Industry Regulatory Authority is engaged in a full-court press to convince the SEC that it should be the SRO for advisors. |
Financial Advisor
June 2012
Jim McConville |
Advisor Groups Renew Challenge To Finra's SRO Cost Estimates A coalition of financial advisor industry groups last month resumed its assault on the Financial Industry Regulatory Authority's cost estimates for creating a self-regulatory organization to review investment advisors. |
Registered Rep.
July 30, 2007
Halah Touryalai |
FINRA Sticks as SEC Approves Regulator Consolidation After some minor bumps along the way, the NASD and NYSE merger is official. |
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. |
Financial Planning
December 1, 2010
Donna Mitchell |
Turning on the Charm Next month the SEC reports to Congress on its recommendations for enhancing examinations for investment advisors. FINRA, meanwhile, is trying to persuade movers and shakers on the Hill that it already has the answers. |
On Wall Street
March 1, 2013
Kenneth Corbin |
FINRA Cracks Down on Suitability Broker-dealers and advisors recommending complex, high-yield products to see more scrutiny. |
Financial Advisor
August 2, 2010 |
Frontline News Advisor News: Gulf of Uncertainty... Small Broker-Dealer Market Shrinking... FINRA Issued More Fines, Disciplinary Actions in '09... Advisors Expect Revenue Rise In '10... Annuities Could Gain Traction In 401(k) Plans... |
Investment Advisor
February 2009
Melanie Waddell |
Is Mary What the SEC Needs? The alternative to FINRA overseeing advisors, and what advisors would definitely prefer, is a self-regulatory organization. |
Registered Rep.
March 9, 2011
Kristen French |
Law Students, Mercer Bullard Launch SRO For Investment Advisers Their group would rival FINRA, the self regulatory agency for broker/dealers and currently the leading contender for the job. |
BusinessWeek
June 18, 2007
Dawn Kopecki |
Backdating: Why Penalties Are Puny The SEC considers options violations less serious than other kinds of financial fraud. |
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. |
Financial Planning
May 1, 2012
Jennifer Woods Burke |
Gotcha! Audits Get Tougher This year, the SEC and FINRA launched a webinar for firms detailing their expectations and reaffirming that whether a firm is large or small, regulators expect the same level of diligence when it comes to audits. |
Financial Advisor
March 2011 |
Frontline News Financial news: SRO Proposal: Quixotic Or Galvanizing?... Refereeing Games, Quarterbacking Clients... Musical Chairs Envelopes B-D World... Finra Upped Enforcement Actions In 2010... Pension Problems... A Taxing Matter... more... |
Registered Rep.
November 21, 2007
Halah Touryalai |
SEC Fines At Four-Year Low The fall in fines comes after complaints from Republican commissioners and business groups that say the penalties hurt investors. Meanwhile, Democrats say the heavy fines deter fraud. |
Investment Advisor
December 21, 2010
James J. Green |
FSI Endorses FINRA as SRO for Investment Advisors Dale Brown says FINRA option is "best way to address the regulatory gap." |
Registered Rep.
September 14, 2011
Andrew J. Haigney |
Opinion: FINRA's Land Grab Provisions of the Dodd-Frank Act are effectively forcing brokerage firms to convert their retail operations to the investment advisory model. But brokers need not worry, it looks like "the fix is in." |
Financial Planning
March 1, 2008
Jane Worthington |
Keep It Private One of the top regulatory issues for 2008 will be firms' control over their nonpublic "inside" information. Regulators have been swift to bring heavy fines -- even permanently barring perpetrators from the financial services industry. |
On Wall Street
January 1, 2010
Alan J. Foxman |
Blamed for ARS He Didn't Sell Misrepresenting auction-rate securities... BrokerCheck public disclosure system... |
Financial Advisor
November 2011
Evan Simonoff |
What Gives At The SEC? For several decades, the Securities and Exchange Commission has contended that it does not have sufficient resources to examine and inspect RIAs. Consequently, many have concluded that Finra is the default option for all RIA regulation. |
On Wall Street
June 1, 2009
Lauren Barack |
FINRA's Push for Greater Broker Oversight With the public's distrust of the financial community in overdrive, FINRA hopes to make disciplinary records permanently available on its BrokerCheck site. |
Investment Advisor
June 2008 |
News & Products, June 2008 A $5 million fine imposed against American Fund Distributors for directed brokerage in 2006 stands... FINRA warns about event-linked securities, such as catastrophe, or "cat" bonds... FINRA launches two online resources about early retirement scams... etc. |
Financial Planning
October 1, 2011
Jennifer Woods Burke |
The Risk of Hide and Seek Advisors are often guiding clients through financial nightmares rather than living their own. But a FINRA enforcement action this year demonstrates how easily your career can slip away if you don't properly disclose financial troubles. |
On Wall Street
July 1, 2010
Alan J. Foxman |
Dueling Investigators Advisor Q&A: Why must agencies duplicate investigatory efforts?... Should I worry about reps picking up bad habits from old firms?... |
Investment Advisor
April 1, 2011
Ron Rhoades |
An Alternative to FINRA Oversight "I expect FINRA and its allies to continue to push to extend its jurisdiction to some or all investment advisors," says Investment Adviser Association Executive Director David Tittsworth. |
Financial Advisor
November 2009
Jeff Schlegel |
The Great Debate Financial services reform is coming. How will it impact advisors? |
Registered Rep.
September 13, 2011
Kristen French |
Long Legislative Fight Kicks Off with House Hearing On SRO, Fiduciary Standard Congressman Scott Garrett opened Tuesday's House Financial Services Committee hearing on an SRO for investment advisers and a fiduciary standard for broker/dealers with a threat. |
Financial Planning
December 1, 2011
Bob Veres |
Regulatory Armaggedon The Republican leadership in Congress has proposed that the SEC authorize one or more self-regulatory organizations to take over regulation of RIAs. This has been coordinated with massive Wall Street lobbying. |
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... |
On Wall Street
August 1, 2009
Mark Astarita |
Changes at the SEC: Schapiro Should Be Benefit to Advisors One can expect that as head of the SEC Mary Schapiro will understand the impact of new rule proposals and enforcement initiatives and will temper the calls for more extreme changes that would ultimately harm the markets and the financial industry. |
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. |
Investment Advisor
November 2009
Melanie Waddell |
Danger & Opportunity: Healthcare, Financial Services Reform Making Headway Two of the Obama Administration's top priorities to accomplish by year-end -- healthcare and financial services reform -- are well on their way to fruition. |
Registered Rep.
January 15, 2009 |
Schapiro's Replies: Blame The SEC--Not FINRA--For Madoff It wasn't her job, man. |
Registered Rep.
October 2, 2009
Bill Singer |
FINRA's Dubious Report (Madoff, Stanford, et al.) Well, I can pretty much encapsulate my reaction to this report into a few choice words. Self-serving garbage. Nonsense. Disgraceful. |
CFO
June 1, 2009
Reason & Stuart |
Crackdown Alert After a GAO report documents a slowdown in the SEC's case generation and penalty volume under former chairman Christopher Cox, the regulator's new leaders talk tough. |
Investment Advisor
February 1, 2011
John Sullivan |
FSI OneVoice 2011: FINRA CEO Ketchum Defines Fiduciary as It Applies to BDs, Advisors The Financial Services Institute's OneVoice 2011 conference kicked off in Phoenix Monday night with a question-and-answer session with Richard G. Ketchum, chairman and CEO of the Financial Industry Regulatory Authority. |
Registered Rep.
December 11, 2009
Kristen French |
House Passes Regulatory Reform, SRO Up In The Air The Wall Street Reform and Consumer Protection Act of 2009 passed by a narrow margin. But it will still be a long time before the regulatory future for broker/dealers and investment advisers is clear. |
The Motley Fool
January 18, 2011
Selena Maranjian |
Protect Yourself From Your Brokerage When you invest in stocks, you accept some risk. Your stocks may drop in value, shrinking your investment. That kind of risk is unavoidable, but other brokerage-related risks are not. |
CFO
February 1, 2006
Alix Nyberg Stuart |
Penalty Box The SEC is handing out bigger and bigger fines for misdeeds. But is this the right approach? |
