SEC Chief White Pushes Back on Advisor Audits
White tells Financial Services Committee that a reallocation of resources from BD coverage to advisors would ‘not be advisable.’
FINRA Penalizes Merrill $2.4M Over Pricing of GM Notes
The fine and restitution are tied to markdowns of more than 10% paid to several hundred clients over two years.
Investors Say No to FINRA’s CARDS Plan
"Data from this survey reveals that investors have serious concerns about the CARDS proposal and the risks such a system could pose to their privacy," says SIFMA CEO Bentsen.
Fines R Us: FINRA Hits 10 Banks for $43M Over Toys R Us IPO
The firms, including Citigroup, Credit Suisse and Goldman, offered favorable research to win investment banking business.
Morgan Stanley Pays $4M to SEC Over Market Access Violations
Morgan Stanley allowed a rogue trader to engage in fraudulent trading of Apple stock and lose $5.3 million, the SEC said.
New Hire Roundup: SEC Names Pollock L.A. Exam Chief
Meanwhile, wealth advisory firm Presidio Group opens a new Washington office.
Hearsay Social Streamlines Social Media Compliance Platform
Hearsay Social says it’s made its social profile review, pre-approval features and automatic publishing solutions more efficient.
BDs’ Comments Lead FINRA to Update Communication, Gift Rules
BDs request further guidance, updates on the two rules; FINRA's retrospective review process is ongoing.
SIFMA Chief Slams CARDS Plan
At a press briefing, SIFMA President and CEO Ken Bentsen Jr. didn't mince words when it came to FINRA's controversial data collection plan.
FINRA Responds to SIFMA's Latest Critiques of Proposed Data System
Industry trade groups raise fresh concerns with latest plan to collect broker-dealer account data through Comprehensive Automated Risk Data System.