‘Dissident’ Candidate Elected to FINRA Board
Brian Kovack campaigned on the need to reform FINRA's arbitration process, exams and registration disclosures.
SEC, FINRA Enforcement: Morgan Stanley Fined on Muni Bond Shorts
Meanwhile, the SEC fined an infant formula maker for bribing Chinese hospital workers.
Most Advisors See Little Effect From New Fiduciary Rules, Survey Finds
But, expert asks, do reps really understand what they will need to do to fully monitor and manage investment suitability?
SEC Pay-to-Play July 31 Effective Date a ‘Nonevent’: IAA Chief
The SEC won’t enforce ban on advisors’ use of third parties to solicit business from government entities until FINRA and the MSRB issue final rules.
Goldman Clearing Arm to Pay $1.8M FINRA Fine Over OATS Violations
Goldman Execution & Clearing was fined for more than eight years of Order Audit Trail System-related failures.
SEC, FINRA Enforcement: Ex-Oppenheimer Employees Fined in Penny Stock Case
Meanwhile, FINRA fined Global Strategic Investments LLC for suspicious Venezuelan bond activity.
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.
SEC Enforcement: Napkin-Eating Broker Settles; Ponzi Funds Used for Porn
Also, a hedge fund manager admits to providing bad data, which affected recording of 552 million shares.
New Hire Roundup: Ex-CBO Chief Elmendorf Back at Brookings
Meanwhile, Royal Alliance adds Quincy Group; MarketCounsel beefs up staff with three new lawyers.
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.