FINRA, SEC Wallop UBS Puerto Rico With $33.5M in Penalties Over Closed-End Funds
Company failed to ensure suitability for clients of Puerto Rican CEFs that were highly invested in Puerto Rican municipal bonds; branch manager and rep charged.
For Compliant Advisors, Known (and Unknowable) Unknowns
The SEC, FINRA, DOL — regulations and oversight come from all sides, and anticipating what's compliant today but won't be tomorrow is a tricky game.
LPL to Pay $3.2M Over Sales of Nontraded REITs, Leveraged ETFs
A settlement was reached with NASAA, Massachusetts and Delaware attorneys general.
Marcato Capital Takes 6.3% Stake in LPL
The hedge fund, known for its activist approach, thinks LPL's shares are undervalued.
FINRA’s 5 Biggest Fine Categories in First Half of 2015
FINRA is on track to impose $75 million in fines this year, the second most since the financial crisis.
FINRA Floats Tougher Expungement Rules
FINRA arbitration panels would have to provide a more detailed rationale for granting a rep's request to have black marks wiped off their BrokerCheck report.
LPL Taps Ex-FINRA Regulator for Deputy Counsel Post
The independent broker-dealer also says it has set up a Regulatory Counseling group firmwide.
FINRA Floats Plan to Help Block Elder Exploitation
A rule under consideration would place a temporary hold on disbursements from accounts of elderly or disabled people if there is suspected financial exploitation.
FINRA Nabs 10 Reps in Risky Broker Op
FINRA carefully watches broker migration, especially when reps "move in groups from an expelled or high-risk firm to other securities firms," says FINRA's Axelrod.
Rep. Wagner Wants Bill to Halt DOL Fiduciary Rule Marked Up by Month-End
"DOL is dug in on this, but I’m pretty dug in, too," Wagner said ahead of a Thursday hearing on her bill.