Ex-New York Governor, Music Producer Caught in SEC Action
Three executives were charged with defrauding investors in a purported project to construct the largest movie studio in North America.
Client Focus, Organic Growth Crucial to Advisor Success: eMoney Summit
Fidelity’s Mike Durbin says that in the “fragmented” financial services industry, client-centric firms that can grow organically will be the winners.
SEC Enforcement: Marijuana Container Company Busted in Stock Scheme
Also, Florida man charged with fraud for scheme to register and sell stock in blank check companies disguised as promising startups.
‘Hit Pause’ on DOL Fiduciary Rule, Insurer’s Lawyers Urge Federal Judge
Lawyers representing insurer Market Synergy told a Kansas judge that DOL failed to prove that state-based regulation of fixed-indexed annuities is broken.
SEC Actions on Private Equity Fees Show Agency's Enforcement Aim
In limited partnership or subscription agreements, Form ADVs or elsewhere, the SEC scrutinizes differences between what managers say they'd do and what they actually did.
4 SEC Exam Priorities Advisors Need to Know: Brian Hamburger
The MarketCounsel CEO highlights the exam priorities that the SEC “has shown by their actions, not by their words.”
DOL Fiduciary Rule’s Cost for 9 Investment Advice Players: From IBDs to RIAs
A.T. Kearney study sees big asset shifts across formats with IBDs getting walloped.
State Farm Must Face $7B RICO Class Action, Judge Rules
The case, alleging State Farm paid off an Illinois Supreme Court justice in 2005 to evade a $1 billion award, has cleared a major hurdle.
SEC Accuses Omega’s Cooperman of Insider Trading in Atlas
The SEC said that Leon Cooperman, 73, earned about $4 million by buying securities before the sale of a company asset in 2010.
History Provides Hope for Institute for the Fiduciary Standard’s New Best Practices
While reforming large financial services institutions may be tough, the Institute believes reforming the industry from the ground up is more doable.