Advisor Gets 7-Year Sentence for $21M Ponzi Scheme: Enforcement
In other enforcement news, SEC charges a Virginia man with insider trading and FINRA fines Credit Suisse.
New Money Market Fund Rules Working as Planned: NY Fed
As a result of the new rules, money has shifted away from riskier institutional prime and muni funds into safer government funds.
‘Myth Busting’ Ex-Broker to Pay Dating Guru $1M
A FINRA panel has ruled that radio host Dawn Bennett is required to compensate the former client for losses and expenses.
Raymond James Adds Team of Women From Morgan Stanley: Recruiting Roundup
Meanwhile, TD Wealth grabs a group in New Jersey from Wells Fargo.
Advising Clients on Social Security: Talking Points, Part 3
This installment introduces more advanced Social Security topics like Restricted Application, and coordinating spousal benefits and the “Three-Legged Stool.”
Wall Street Bonuses Not Keeping Up With Profits
New York Comptroller finds that NYSE firms had a 21% bounce in profits, but employees' average bonus rose just 1% last year.
SEC Shortens Trade Settlement Cycle to 2 Days From 3
The T+2 rule is designed to enhance efficiency and reduce risk, the SEC says.
Trump Education Department Now Allows Big Collection Fees on Defaulted College Loans
The new guidance affects loans from lending institutions made before the feds took over the student loan program in July 2010.
Female Advisors More Likely to Be Fired for Misconduct Than Male Advisors: NBER Study
Study found “the financial industry is willing to give male advisors a second chance, while female advisors are likely to be cast from the industry.”
Wells Fargo Card Requests Drop by Most Since Scandal Erupted
New checking accounts fall 43%, marking sixth straight decline; Mack says "it will take time" to work through reforms.