Wire Transfer Fraud Threat Is Very Real, Says Tom Giachetti
It's real, dangerous and often overlooked by advisors. Where are regulators and law enforcement officials? “There’s not a whole lot they can do,” he says.
SEC Enforcement: Morgan Keegan Fund Directors Settle Over Botched Valuations
Also in the SEC's crosshairs recently: A penny-stock promoter nabbed in an undercover FBI sting and two medical insurance execs accused of a Ponzi scheme.
Small Firms at Greater Risk From Cyberthreats
It doesn’t matter how big your firm is—if you leave yourself vulnerable to cyberattack, you could be a victim, according to a white paper by First Clearing.
The Price of Everything: What’s the Value of Sound Advice?
The SEC Regulatory Accountability Act is yet another attempt by the securities industry to shift attention away from the consumer protections of requiring brokers to put the interests of their clients ahead of their own, by focusing solely on the “costs” of doing so.
Guiding Your Art-Loving Clients, Whether It’s a Passion or an Investment
Art collectors may love their pieces, but often they're as driven to buy by the perceived investing benefits. What’s the advisor’s role in guiding their clients?
Retiree Entitlements ‘Undermine’ Everything Else: Robert Samuelson
Washington Post columnist Robert Samuelson took a scorched-earth approach on Monday to what he sees as out-of-control entitlement spending.
Obama Blasts ‘Meat Cleaver’ Cuts as Simpson, Bowles Release New Plan
With little time left until the $85 billion in sequestration cuts take effect, President Barack Obama urged lawmakers Tuesday to avert the “brutal” cuts.
SEC Enforcement Roundup: Husband and Wife Charged in Charity Fraud Against Seniors
Also among recent enforcement actions was the sentencing of an insider trading informant who managed to avoid prison time for his cooperation.
A Broker Who Broke Bad
Serving nearly 400 days in federal prison wasn’t what Justin M. Paperny had in mind when he became a stockbroker fresh out of the University of Southern California, psychology degree in hand.
SEC, FINRA Enforcement Roundup: Eli Lilly to Pay $29M to Settle Foreign Bribery Charges
The SEC recently charged Eli Lilly for violations of the FCPA and barred an Arizona-based fund manager from the industry after the fund’s collapse. FINRA ordered Pruco Securities to pay $10.7 million.