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.
Ex-UBS Intern Sues for $5M Over Sexual Harassment, Discrimination
Young woman says her advisor boss promised her purses and shoes as “a bonus” for sexual favors.
New Digital Currency Council to Establish Best Practices
The former CEO of the Institute for Private Investors has just launched the Digital Currency Council.
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.
2014 Broker-Dealers of the Year—Scenario 3: SEC Imposes Fiduciary Standard on Reps
How would top BDs handle this scenario? "In many ways," says Eric Schwartz of Cambridge, "we're in a fiduciary world already."
FINRA Enforcement: HFP Capital Markets Expelled From FINRA for Note Fraud
FINRA also censured Saddle River, New Jersey-based Felix Investments.
FSI Adds New Advisor Members From 2 Firms
Complimentary memberships and similar initiatives have helped boost FSI memberships, which have doubled since 2011.