Compliance Data Analytics: Do as Regulators Say AND as They Do
Financial services firms should follow the lead of the SEC and FINRA and use more sophisticated technology tools to improve their compliance programs.
SIFMA, U.S. Chamber Barrage DOL as Fiduciary Rule Comment Deadline Looms
SIFMA, for its part, filed not just one comment letter but eight, along with two studies highlighting the fiduciary rule's challenges.
FINRA Blasts DOL’s Fiduciary Redraft as ‘Fractured, Confusing’
In its 21-page comment letter, FINRA tells DOL to modify its plan so that BDs do not abandon small accounts.
BDs Increasing Protection Against Cyber Breaches, Survey Finds
'Some firms have been the subject of benign incidents but haven’t realized it yet,' says Sutherland's Rubin.
Wells Fargo Grabs Morgan Stanley, Merrill Reps as Raymond James Nabs UBS Team
The four new Wells Fargo advisors come on board with some $900 million in assets; the new RJ group has some $300 million.
Enforcement: Chase to Pay $136M Over Debt Collection Practices
Meanwhile, FINRA barred five brokers for a sham private placement offering.
‘Dissident’ Candidate Vies for FINRA Board Seat
With FSI's endorsement, securities attorney Brian Kovack is running against FINRA's chosen candidate to push for "immediate reforms" in three areas.
Wells Fargo, LPL, Raymond James to Repay $30M to Charities, Retirement Plans
Wells Fargo, Raymond James and LPL failed to waive mutual fund sales charges that more than 50,000 accounts were entitled to, FINRA says.
SEC: Ex-Broker Sold Clients Fake CDs With 12% Interest
Former advisor Malcolm Segal is accused of a $15.5 million Ponzi scheme involving bank CDs — some real and some nonexistent.
FINRA Earnings Surge as Fines Double
The self-regulator collected more than twice the amount of fines in 2014 as it did a year earlier, though the number of fines fell.