Guggenheim Unit to Pay SEC $20M Over Compliance Failures
The group failed to disclose an executive’s $50 million loan from a client; staff took “dozens of trips” on clients’ planes.
Dwyer to Move to AR Global in Apollo-RCAP Deal
The former LPL executive will continue to lead the wholesale distribution unit that RCAP sold to Apollo.
SEC, FINRA Enforcement: 2 Busted for Selling Fake ‘Charitable Gift’ Annuities
Meanwhile, the SEC busted a $114 million Ponzi scheme involving driver safety technology.
Democratic Senator Criticizes DOL Fiduciary Rule as Hearings Near
Sen. Claire McCaskill of Missouri says she's worried about access to advice for small investors; Washington Analysis gives its prognosis for the rule.
Live by the Code! The SEC’s Ethics Code, That Is
Unlike the Mafia, the SEC wants supervised persons to always rat on their friends and never keep their mouths shut.
Camardas Appeal CFP Board Case to Right ‘Grave Wrongs’
"The welfare of the profession, and of the client public” are hanging in the balance, the Camardas say.
Sen. Warren Floats Bill to Stop Credit Checks by Employers
The Equal Employment for All Act would prohibit employers from requiring potential employees to disclose their credit history when applying for a job.
LPL Posts Higher Q2 Earnings, Flat Revenue
The IBD had lower regulatory costs, but sales commissions slowed in the three months ending June 30.
Firms Must Report CEO-to-Worker Pay Ratio Under New SEC Rule
The “controversial, contentious” rule garnered a whopping 287,400 comment letters, SEC Chairwoman White said.
Financial Services Groups Push Cybersecurity Bill
The bill could be brought to the Senate floor for a vote by Thursday, but critics call the bill a threat to privacy.