FINRA Readies Changes to Communications Rules
FINRA is also taking comments until mid-May on member application rules.
Algorithms Will Make JPMorgan Less Bad
JPMorgan is using algorithms "to identify rogue employees" to minimize costs and maximize ROE (and bonuses). That happens to coincide with regulatory goals.
Enforcement Roundup: Defense Contractor Fined for ‘World Tour’ of Bribery
Meanwhile, FINRA fined Newbridge Securities Corp. for buying and selling corporate bonds at unfair prices.
SEC to RIAs: Beware the Ides of ‘May’
Recent SEC enforcement actions should prompt advisors to review their Form ADV for a potentially dangerous word—“may”—relating to compensation and conflicts of interest.
SEC Panel: 2 Big Problems With Advisor Background Checks
Investors don’t check advisor and rep backgrounds, and the data itself can be problematic.
CFTC Promotes SmartCheck Week to Fight Financial Fraud
Why investors should do background checks on the people they invest with.
SEC Probes Whether 12b-1 Fees Are Used Properly
SEC is examining whether the rules for the fees and their disclosure are being followed and “what funds are paying intermediaries for.”
SEC Chief: Fiduciary, Third-Party Audit Rules to Advance This Year
SEC will discuss making rules this year on third-party advisor audits and a uniform fiduciary standard, SEC chief Mary Jo White said.
What Facebook’s Future Holds for Advisors
Facebook’s plans may directly affect advisors’ business and will surely shape their social media strategies. Then there are the compliance and robo-advisor implications.
BD Fees Confuse Investors: NASAA
“Investors are confused and unaware of how much their brokerage firm charges to serve and maintain their investment accounts,” NASAA President William Beatty said.