FINRA Floats Rule Changes on Gifts, Noncash Comp
The proposed changes "make sense" as some of the current rules, especially on business entertainment, are "too subjective," Cipperman Compliance Services says.
Treasury's AML Rule for RIAs Could Kick In Any Day Now
Be forewarned that AML rules have a way of expanding to new and unanticipated areas, creating large enforcement targets for regulators to pursue aggressively.
Stifel’s Profits Crash in Q2 Despite Wealth Growth; Ladenburg Results Weaken
Stifel Financial is getting rid of the indie reps it bought from Sterne Agee, but holding on to the ex-Barclays reps.
Fight Brews in Kansas, Texas Courts Over DOL Fiduciary Rule
A fight is brewing in Kansas and Texas courts over whether to allow advocates and opponents of the DOL's fiduciary rule to state their case.
Advisor’s Challenge to SEC In-House Judges Fails in DC Circuit
A federal court on Tuesday rejected an investment advisor’s challenge to the constitutionality of the SEC's administrative law judges.
Lobbyists Urge California Governor to Block State-Run Retirement Plan
The bill poses risks to taxpayers while failing to expand meaningful retirement savings, says ICI, a fund industry trade group.
Morgan Stanley to Pay Fired Rep $2.4M, Clear His Record
FINRA arbitration panel rules the wirehouse made "defamatory statements" to clients of a Florida advisor let go in 2014.
Barclays to Pay $100 Million Over State Libor Probes
Barclays agreed to pay $100 million to 44 U.S. states to resolve an investigation into interest-rate manipulation by the bank.
FINRA Fines Deutsche Bank $12.5M Over Use of ‘Hoots’
Deutsche Bank Securities failed to supervise research- and trading-related info it disseminated to employees over its squawk boxes.
FINRA Sweeps Broker-Dealers for Info on Nontraded BDCs
The exam sweep covers all member firms and advisors selling the companies between January 2015 and June 2016.