SEC Slaps E*Trade for Unregistered Transactions, Issues Risk Alert
SEC says that brokerage subsidiaries of E*Trade engaged in unregistered sales of micro-cap stocks; also issues Risk Alert reminding BDs of unregistered transaction duties.
SEC Panel Backs Broader Definition of Accredited Investor
Investor committee recommends ways SEC can modernize definition for buyers of Reg D offerings; Chairwoman White vows to make “real progress.”
IRS Prods Lawmakers to Pass Tax Extenders
Senate Finance Chairman Wyden prodded Congress after the IRS warned that failure to act could disrupt tax filing season.
FINRA Arb Panels Lack Diversity, Transparency: PIABA Study
"Diverse groups of people make better decisions," the investor lawyers' group says.
FINRA’s Senior VP of Enforcement Moves to Shulman Rogers
Emily Gordy, FINRA’s senior VP of enforcement, has joined Shulman Rogers as chairwoman of the firm’s Financial Industry Regulatory Group.
SEC to Hold Muni Advisor Compliance Summit
The SEC, FINRA and MSRB will hold inaugural Compliance Outreach Program for Municipal Advisors in Chicago on Nov. 3.
Prison Time for Securities Lawbreakers Jumps 33%: NASAA
“The increase in jail time reflects the increasing complexity and heinousness of the crimes state securities regulators investigate,” NASAA says.
FINRA Releases New Version of Controversial CARDS Plan
FINRA is "committed" to CARDS and plans to move ahead with further changes to BrokerCheck, said Susan Axelrod at the FSI Advisor Summit.
DOL Chief’s Potential Departure Wouldn’t Stop Fiduciary Plan
In the unlikely event Labor Secretary Perez replaced Holder as attorney general, "stalwarts" like Borzi would keep DOL’s fiduciary fires burning, observers said.
FSI Offers Disability, Term Life Insurance for Members
FSI is “offering true large group long-term disability coverage that’s not available on the open market,” said CEO Dale Brown.