Enforcement: Schemers Took Middle-Class Investors’ Money to Casinos and Strip Clubs, SEC Says
Meanwhile, for the first time, the SEC fined a brokerage for failure to file suspicious activity reports.
Enforcement: Ex-Attorney Arrested for Contempt in ERISA Case
The SEC also charged two attorneys with stealing from small-business owners' escrow accounts.
Regulators Don't Want Bankers to Be Paid for Taking Risk
There's something pleasingly quaint about reading a new bankers' compensation rule, with its implication that what needs changing about banking is the culture of risk.
Enforcement: Class-Action Plaintiff Recruiter Bilked Retirees, SEC Says
Meanwhile, the SEC barred an advisor for "cherry picking" trades.
LPL Facing Lawsuits Over Stock Drop
The independent broker-dealer's shares are down about 50% from its 52-week high.
Why We Fear the IRS
The IRS is incredibly powerful, and the tax code is incredibly opaque.
Enforcement: FINRA Bars Broker for Market Manipulation
Meanwhile, SEC, DOJ and Dutch authorities ordered telecom provider VimpelCom to pay more than $795 million over allegations it bribed an Uzbek official.
Calls to FINRA Senior Helpline Uncover Emerging Scams
The helpline has aided FINRA in identifying new scams, including tax fraud, bogus lottery winnings and binary options.
RCS Capital’s Proxy Vote Scandal Ensnaring More Broker-Dealers
Massachusetts regulators say broker-dealer agents may have played a role in two fraudulent proxy voting schemes this year.
FINRA Proposes Rule for BDs to Help Stop Elder Fraud
BDs would be required to obtain a trusted contact for an elderly customer’s account; empowered to put holds on fraudulent-looking transactions.