Social Media Use Up at Firms, but Texts Raise Compliance Worries: Survey
Compliance officers "have significantly lower confidence" in their ability to produce text messages upon request versus other types of electronic messaging, Smarsh poll finds.
FINRA Floats ‘Watered Down’ BrokerCheck, Broker Bonus Rules
The new broker bonus plan “runs counter to the current industry debate” over a common fiduciary standard, which brokerage firms largely favor, lawyer Patrick Burns says.
SEC’s Former IM Director Returns to Help Craft Fiduciary Rule
Andrew "Buddy" Donohue's "deep knowledge of asset management will be especially useful" as the SEC considers a uniform fiduciary standard, said Chairwoman Mary Jo White.
Talk of FINRA as Advisor SRO Rears Its Head Again
A Republican on the House Financial Services Committee said at FINRA's annual conference that he would "explore" legislation to give FINRA advisor exam authority.
Don Trone: Father of Fiduciary—The 2015 IA 35 for 35
In the driver’s seat of the fiduciary movement for nearly 30 years, Trone’s not a fan of regulators’ attempt to redefine what fiduciary means.
FINRA’s Ketchum Blasts DOL Fiduciary Plan; White House Says ‘Work With Us’
FINRA CEO Richard Ketchum talked at the regulator's conference about what's wrong with the DOL plan and offered an alternative approach to putting customers first.
Deutsche Bank Hit With $55M SEC Fine for Misstating Financial Reports
During the financial crisis, “Deutsche Bank’s financial statements did not reflect the significant risk” in large, complex illiquid derivative positions, says SEC's Ceresney.
Andy Friedman: One Big Date That Could Shake Markets, Tax Code
Four political "forcing events" are coming to a head around a single date, Andy Friedman of The Washington Update says.
Bernie Madoff: Making Your Job Harder—The 2015 IA 35 for 35
Five years after Madoff was sentenced to 150 years in prison for conducting the biggest Ponzi scheme in history, investor confidence still hasn’t fully recovered.
Dodd-Frank Rollback Bill Advances in Senate
The Senate Banking Committee passed on a sharp party-line vote Thursday the Financial Regulatory Improvement Act. Democrats including Sen. Warren blasted the bill.