Cyberattacks on Small, Midsize Advisors Go Undetected
Small and midsize advisors self-report few breaches because they lack the technology and sophistication to detect them, a tech specialist says.
FINRA Mulls Revised Broker Bonus Plan
FINRA plans to consider a revised recruitment practices proposal that looks to omit the controversial retention deal aspect of the original plan.
SEC Creates New Office of Risk Assessment
SEC created new Office of Risk Assessment to help provide data-driven risk assessment tools and models to support a wide range of SEC activities.
House Delays Vote on Bill to Fund Government, SEC
Vote delayed to discuss anti-ISIS funding for Syrian rebels; SEC's White tells Senate of the "immediate and pressing" need for funds for advisor exams.
BDs, Trade Groups Team Up to Clarify Murky BD Fees
FINRA, SIFMA and other groups, with LPL and other BDs, have joined forces to develop rules that ensure BDs’ fees are easily understood by investors.
Senate Bill Targets ‘Earnings Stripping’ by Corporate Inverters
“This bill curtails the incentive for companies to use shady accounting gimmicks to avoid paying their U.S. tax obligations," says Sen. Schumer, one sponsor.
Most State-Registered Advisors Have Tech, Cybersecurity Policies: NASAA
Though less than 5% of small and midsize firms said they had a cybersecurity incident, two-thirds said they had cybersecurity policies in place.
SEC Busts Hedge Fund’s Fake Research, Soft Dollar Scam
The SEC charged a Minneapolis-based firm with bilking investors out of more than $1 million using fake research expenses and fees.
SEC’s White: Fiduciary Rule Important, but Dodd-Frank, JOBS Mandates Come First
Chairwoman Mary Jo White told senators Tuesday that a fiduciary options list is a "high priority," but legally mandated rulemakings must take precedence.
ICI Welcomes New SEC Rules on Funds, Asset Managers
“Any risks that may arise in asset management are best addressed by the SEC,” says ICI's Paul Schott Stevens.