SEC Finds Shady Practices in BDs' Structured Product Sales
Examiners found suitability violations including heavy sales to customers who were elderly, didn't speak English or had a conservative investment objective.
Wells Fargo Indie Group Adds 2 Ex-Morgan Stanley Advisors
The team, which has about $190 million in assets, was with LPL Financial before working for the wirehouse.
FinCEN Floats Long-Awaited AML Rule for Advisors
Treasury's enforcement unit proposed Tuesday a rule requiring certain advisors to establish anti-money laundering programs and report suspicious activity under the Bank Secrecy Act.
How (Not) to Name Your Advisory Firm
Advisors who want to name a firm after themselves should think twice, says Christopher Norton of marketing firm Blu Giant.
10 Best Cities for Retirement: 2015
WalletHub recently ranked the 150 most populated cities based on how well retirees can live affordably, stay busy and find health care.
Schwab Hit With $2M FINRA Fine Over Net Capital Deficiencies
On three occasions in 2014, Schwab was short on net capital by as much as $775 million.
Social Security May Extend Spousal Benefits to Gay Couples
Attorneys in federal suits seeking benefits say the SSA will provide retroactive benefits to the spouses, widows or widowers of same-sex partners.
Mercer’s Conaway Replaces Salisbury as EBRI Chief
"EBRI has the capacity to shatter myths and preconceptions" with its "unparalleled reputation, databases and talented research team," Conaway said.
FINRA Enforcement: Sterne Agee Fined Over Lost Laptop
Meanwhile, Capital Guardian was fined for failing to detect suspicious transactions involving Venezuelan bonds.
Arthur Levitt: SEC Deadlocked on Fiduciary, Advisors Need DOL Rule
As the Investment Advisers Act turns 75, ex-SEC Chairman Arthur Levitt, CFA’s Barbara Roper and more discuss why the industry needs a strong fiduciary standard.