FSI Chair Blasts White House Fiduciary Memo as ‘Offensive’
FSI Chairman and Cetera President Antoniades says the memo's "ignorance" is "frankly offensive"; FSI also says it’s fighting FINRA's CARDS plan.
SEC’s Top Exam Priorities for 2015: Retirement Savers, Branch Offices
The regulator also will zero in on reps who offer "a variety" of fee arrangements.
Bank of America Granted Penalty Relief After SEC Compromise
The SEC has resolved an impasse over punishing Bank of America in a mortgage case, clearing the way for a $16.7 billion global settlement.
PIMCO’s Bond ETF Woes Widespread in Industry: Morningstar Expert
Morningstar’s Michael Herbst says other fund families in the fixed-income space are also likely to have same pricing problems as PIMCO’s.
Wells Fargo Fined $5M Over Advisor’s Insider Trading, Altered Document
SEC says Wells Fargo Advisors was slow to release required compliance documents and "altered" one related to sales of Burger King stock.
Warren Buffett Talks to Senators Sometimes
Warren Buffett spoke to Sen. Orrin Hatch before investing in the Tim Hortons/Burger King deal. This is the sort of conversation legislators should be having.
SEC Enforcement: Balmy Belize No Refuge for Stock Scammers
In another action, a Massachusetts-based biotech company and its former CEO have been charged with defrauding investors
Ex-LPL Broker to Pay $1.9M in Fraud Case
At least seven Georgia investors were affected by Blake Richards' schemes, the SEC says.
SEC Is Getting Into the Weeds
I’m on another flight as I type this, on my way to prepare another firm for its visit from the grim reaper (aka, the SEC).
DC Update on SEC User Fees, an SRO and Third-Party Exams
It will be difficult to enact any legislation in this Congress, but I predict that the RIA user fee bill will gain co-sponsors, including Republicans.