FINRA Wallops Merrill: $8M Fine, $24M in Restitution for Overbilling Charities, Small Businesses
Merrill sold the retirement plans more costly mutual fund share classes and failed to waive sales fees, FINRA said.
Advisory Industry Wants More Exams (and Will Pay for Them, Too)
On IAA's annual lobbying day, the industry has “a very unusual message" for Congress, TD Ameritrade's Skip Schweiss told ThinkAdvisor.
SEC Should Shift Existing Funding to Boost Advisor Exams, IAA Says
The advisor advocacy group is “concerned about the potential disadvantages" of third-party exams compared to SEC examinations, says President David Tittsworth.
About That DOL Fiduciary Survey ...
A closer look at the Greenwald study of the small-business impact of DOL's fiduciary plan reveals the spin machine at work. Why the scare tactics?
High-Speed Trading Rules Coming From SEC, White Says
The SEC chief unveiled the regulator’s most sweeping plan yet for reining in high-frequency trading and monitoring secretive trading practices.
SEC, DOL Enforcement: Appeals Court Backs SEC in Citigroup Case
The SEC may seek settlements without being obligated to require admissions of wrongdoing, the court found. Meanwhile, DOL fined GreatBanc Trust.
FINRA Fines Barclays, Merrill, Goldman Over Inaccurate ‘Blue Sheet’ Data
FINRA fined the banks $1 million each for failing to provide complete and accurate information about trades performed by the firms and their customers.
Massachusetts, Illinois Surveying Advisors on Cybersecurity
Advisors' responses could prompt changes in state regulations, Massachusetts securities regulator William Galvin says.
FINRA Provides Free ‘Dark Pool’ Data to Investors
The public will now be able to see the total shares traded each week by security in each “dark pool” outside traditional exchanges, FINRA says.
FINRA Warns on Fake High-Interest CDs
FINRA investor alert provides list of red flags that indicate a fraudulent CD offer.