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.
Caveat Empty: Most Clients Don’t Understand the Brokerage Business
The principle of caveat emptor went out the window when brokers started using the moniker “advisor” to evade the ’40 Act standard.
3 Emerging Cyber Threats to Watch in 2016: SIFMA
The cybersecurity landscape is “worsening,” said Morgan Stanley’s chief information officer at SIFMA’s annual meeting.
SEC ‘Flat-Out Doing’ a Fiduciary Rule: Chief White
SEC must calibrate a fiduciary rule carefully, Chairwoman Mary Jo White said, so it "does not have unintended consequences."
Brokers' Views on DOL Fiduciary Rule Seem to Diverge From Their BDs'
Broker-dealer firms generally and overwhelmingly reject the Dept. of Labor's BICE requirement as “unworkable." Their reps are not so negative.
Apollo Nixes Part of RCS Capital Deal, Shares Plunge
Shares of RCAP, which owns the Cetera broker-dealers, are trading at $0.50 after plans for a new company are cancelled.
PIMCO Says Gross Lawsuit Is ‘Reputational Warfare’
The fixed-income guru’s former firm moves to get a suit he brought thrown out of court in California.
Outsourcing Compliance Officer Role Can Be Rife With Risk: SEC
SEC exam division urges advisors employing outside compliance providers to be especially mindful of their obligations under the SEC’s compliance rules.
Treasury’s AML Plan for Advisors Needs Big Changes: IAA
IAA says FinCEN's plan is based on a "fundamental misunderstanding" of the services advisors provide.
SEC, DOL Enforcement: Salsa-Dancing Day Trader, Analyst Charged With Insider Trading
Meanwhile, SEC charged three more individuals in a penny stock manipulation case it filed last year.