SEC, FINRA Enforcement: HFT Firm Charged With Manipulating Closing Prices
In another action, FINRA slapped TD Ameritrade for a recordkeeping failure.
SEC Brought ‘Record’ 755 Enforcement Actions in 2014
The SEC filed a “record” 755 enforcement actions and obtained orders totaling $4.16 billion in penalties in fiscal 2014, the SEC says.
DOL Advisor Crackdown Is ‘Out of Control’: Benefits Lawyer
The DOL conducted more than 3,600 audits of qualified retirement plans last year. Settlements related to violations totaled $1.7 billion in plan reimbursements and fines.
New DOL Fiduciary Rule Will Hurt Retirees, Panelists Say
While consumer advocates favor compelling brokers to act in a client’s best interest, much of the financial lobby is dead-set against them.
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.
AIG Shareholders Still Want a Nicer Bailout
Why would anyone call Paulson, Geithner and Bernanke to testify on Delaware’s corporate governance standards for reverse stock splits? There's something else going on here.
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.
Regulation Is Boutique Asset Managers’ Biggest Growth Hurdle
Nearly half of boutique firms said regulation was the critical factor that could break their firm, up from 17% in 2013.