Enforcement: FINRA Fines Fidelity for Overcharging Customers
Meanwhile, the New York Attorney General fined a children's fund board after a trustee misused money to buy himself a home in the Hamptons.
SEC Announces Compliance Outreach Seminars
The seminars will cover hot-button issues like cybersecurity, retirement planning and dual registrants.
SEC Proposes Executive Comp Disclosure Rules
The proposed rules are out for a 60-day comment period.
SEC Releases Cybersecurity Guidance for RIAs
SEC's Division of Investment Management released guidance to help advisors and funds address cyber risks.
SEC Awards Whistleblower in Paradigm Capital Case
Paradigm 'engaged in a series of retaliatory actions against the whistleblower,' the SEC said.
Why Commissions Are Also Bad for Brokers
Commission-based brokers are the only guys in the hugely successful asset management game who aren’t getting cut in on the gravy train.
NASAA Adopts Model Succession Plan Rules
The rules are meant to be a roadmap for states. The SEC is developing its own succession planning rules for RIAs.
529 College Plan Bill to Be Debated in Senate Committee
The bill is intended to "modernize" 529 plans and would designate computers as a qualified expense, among other provisions.
BofA Said to Face SEC Probe Over Customer Protection Rules
Bank of America is being investigated by the SEC over whether it broke rules designed to safeguard customer accounts, according to the Wall Street Journal.
FINRA Charges Avenir Financial With Fraud in Equity Interest Sales to Seniors
An Avenir broker used $77,000 of investor money for personal expenses, FINRA said.