Wells Fargo Compliance Officer Altered Doc After Insider Trader Slipped Through Cracks: SEC
Document was changed to cover mistakes in reviewing broker’s illegal Burger King trades, SEC says.
RIA Assets Jumped 12.6% in 2014: IAA/NRS Study
Regulatory assets held by advisors registered with the SEC increased by $6.9 trillion from last year, according to an analysis of filings.
Rep. Garrett to FINRA: Hold Off on CARDS
“After a preliminary reading of the proposed rule, I remain far from convinced that this new, costly and burdensome proposal is needed,” Rep. Garrett says.
New Fiscal Year Will Bring More Advisor Cases: SEC Enforcement Chief
SEC enforcement chief Andrew Ceresney says the agency will continue to bring cases on matters like fees and conflicts of interest.
LPL to Pay More Than $500,000 Over Annuity Surrender Charges
LPL Financial agreed Tuesday to pay $541,058 to seniors in Massachusetts for failing to properly disclose surrender charges these clients paid when switching VAs.
Janus Buys VelocityShares, Giving Gross Fixed Income ETF Launching Pad: Morningstar
The $30 million acquisition positions Janus “within the rapidly growing rules-based and active ETF universe," says Janus Capital CEO Richard Weil.
Morningstar: PIMCO’s Post-Gross Total Return Fund Is Fine—for Now
While the fund has seen “significant outflows,” PIMCO has “sufficient liquidity” to handle it, says Morningstar’s fixed-income team.
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.