Morgan Stanley to Absorb Customer Losses After Mutual Fund Snafu
Morgan Stanley will offer to swallow some losses incurred by customers who bought mutual funds after failing to make fund prospectuses accessible online.
SEC Cracks Down on 19 Firms, 1 Trader for Short Selling Prior to Stock Offerings
An SEC dragnet of short sellers has hauled in 19 firms and one trader, costing the violators $9 million in disgorgement, interest and penalties.
FINRA Mulls Revised Broker Bonus Plan
FINRA plans to consider a revised recruitment practices proposal that looks to omit the controversial retention deal aspect of the original plan.
FINRA Warns About Investing in Nigeria, Lebanon, Other Frontier Markets
FINRA issued an investor alert, saying these markets have “heightened risks.”
BDs, Trade Groups Team Up to Clarify Murky BD Fees
FINRA, SIFMA and other groups, with LPL and other BDs, have joined forces to develop rules that ensure BDs’ fees are easily understood by investors.
David Bach: Smart Advisors Finish Rich
The best-selling author and Edelman partner on his firm's unusual hiring requirements and what he thinks of breakaway brokers who don't repay their loans.
FINRA Warns of Stock Scams Tied to Ebola, Other Viral Diseases
“News coverage of viral outbreaks, including Ebola and MERS, will likely catch the interest of stock scammers looking to capitalize on fears,” FINRA says.
FINRA Arbitration Head Fienberg to Step Down
Linda Fienberg, an 18-year FINRA veteran, will leave at the end of November.
SEC Gives First Compliance Employee a Whistleblower Award
Agency awards more than $300,000 to an employee who performed audit and compliance functions.
Treasury’s Crime Unit Floats New Customer ID Rules for BDs, Mutual Funds
Meanwhile, FinCEN continues to work with the SEC on anti-money laundering rules for advisors.