Scottrade to Pay $2.6M FINRA Fine Over Email Retention Failures
Scottrade failed to adhere to federal securities and FINRA rules under the 'Write-Once, Read-Many' or WORM format
Slim Chance to Stop DOL Fiduciary Rule, but Brokers Must Keep Fighting: Rep. Mulvaney
Mulvaney told Commonwealth reps to tell senators that “we will no longer be able to serve middle-class people who need us the most.”
Cybersecurity: A Checklist for Advisors
Financial advisors know all too well that they need to protect their business from cyberattacks, but the problem may be bigger than many imagine.
RCS Capital Charged With Proxy-Voting Fraud; NYSE May Dump Stock
Massachusetts regulators say RCS Capital employees impersonated shareholders and voted for a proposed deal with Apollo.
Stock Jocks Get Their Knocks at BDs
The number of transactional representatives will shrink further as their risk versus reward to BDs no longer supports their business—and compliance—models, Jon Henschen writes.
Recruiting Roundup: UBS Adds $2B Advisors as Merrill Picks Up $1B Reps
Meanwhile, Morgan Stanley and Raymond James share their recruiting news, and a group breaks away to work with Dynasty.
BrokerCheck Can Help Predict Investor Harm, FINRA Study Finds
The BrokerCheck database is a “significant” predictor of brokers who may ultimately do investors wrong, two FINRA chief economists say.
How Health Care Will Crush the 80% Income Replacement Idea in Retirement
Retirees planning to replace 80% to 85% of their income may fall short once health care is factored in, HealthView Services warns.
Hatteras Splits From Crumbling RCAP as Moody’s Mulls Downgrade
The alt investment firm returns to its independent roots after 16 months with its troubled owner, RCAP, led by CEO Michael Weil.
Raymond James Adds Billion-Dollar Group in Guam
The Asia Pacific Group was formerly with Morgan Stanley, where it had about $3 million in yearly production.