FINRA Bars 2 Brokers in Hedge Fund Fraud
Brokers told investors the fund was a "growth" fund with risk controls when in reality it was a "highly speculative investment," FINRA says.
Sen. Warren Accuses Annuity Providers of Double Talk on DOL Fiduciary Rule
Warren tells OMB that despite insurers' public "doomsday" predictions about the DOL fiduciary rule, investors are told that all is rosy.
Morgan Stanley Settles Mortgage Case for $3.2 Billion
The settlement addresses misconduct that contributed to the 2008 financial crisis, New York Attorney General Eric Schneiderman says.
SEC Has ‘Open Investigations’ of Private Offerings to Accredited Investors
The SEC is investigating whether some issuers of private placements failed to properly vet accredited investors, Chairwoman Mary Jo White said.
SEC Proposals Aimed at ETFs May Chase Investors Into ETNs
ETFs holding some $225 billion in assets are likely to violate the new rules and could ironically spark a migration of investors into riskier products.
SEC Would Add 102 New Advisor Examiners Under Obama Budget
The budget also includes a cybersecurity action plan and several retirement planning measures.
FINRA: Broker Lied to Native American Tribe About Nontraded REIT Commissions
The broker didn't tell the tribe he personally made $9.6 million in commissions for REIT and BDC recommendations, FINRA says.
SEC to Release Third-Party Advisor Exam Rule in Spring: TDAI’s Schweiss
Writing a fiduciary rule that still allows proprietary product sales is an "impossible task" for the SEC, says TDAI's Skip Schweiss.
Justices Will Know Insider Trading When They See It
A loose but useful way to think about U.S. insider-trading law is that it is supposed to encourage research, but discourage cheating.
SEC Enforcement: Wells Fargo to Pay $1.2B on Mortgage Fraud
In another action, a Miami brokerage will pay $1 million to settle anti-money laundering charges.