Revenge of the Compliance Nerds: The SEC’s Whistleblower Program
What could possibly go wrong with the SEC's program encouraging compliance personnel at firms the SEC regulates to rat on their own firms?
BofA to Pay $7.7 Million SEC Penalty Over Capital Overstatements
Bank of America agreed to pay $7.65 million to settle claims that it overstated its capital by billions after failing to report losses tied to its Merrill buy.
A New Way to Bid for the 401(k)
The onerous requirements of soliciting retirement plan gigs with Morgan Stanley led Ariana Amplo to launch an eRFP matching plan sponsors with advisors.
Ex-PIMCO Money Manager Accused Firm of ETF Manipulation
The manager accused PIMCO in a lawsuit last year of manipulating the price of its Total Return ETF, then withdrew his complaint without explanation.
Prison Time for Securities Lawbreakers Jumps 33%: NASAA
“The increase in jail time reflects the increasing complexity and heinousness of the crimes state securities regulators investigate,” NASAA says.
FINRA Releases New Version of Controversial CARDS Plan
FINRA is "committed" to CARDS and plans to move ahead with further changes to BrokerCheck, said Susan Axelrod at the FSI Advisor Summit.
DOL Chief’s Potential Departure Wouldn’t Stop Fiduciary Plan
In the unlikely event Labor Secretary Perez replaced Holder as attorney general, "stalwarts" like Borzi would keep DOL’s fiduciary fires burning, observers said.
Don't Give Your Money Away
It's a common enough scenario these days. Someone claiming to be a vendor says, “We’re having issues with our bank account, so when you send out our payment, please don't use the account number you have.”
SEC's White: Fiduciary Rule Important, but Dodd-Frank, JOBS Mandates Come First
Securities and Exchange Commission Chairwoman Mary Jo White said in September that she has asked the SEC to place a “high priority” on its fiduciary rulemaking options list.
The SEC and E-Signatures
Over the past few months, I have received several calls regarding electronic signatures. Can we? Should we? Are there any compliance-related issues?