New FINRA Rule to Have ‘Detrimental Impact’ on Arb Process: Sutherland
The rule saying those who worked in the financial industry for any duration will be nonpublic arbitrators could cause a shortage of public arbitrators, a lawyer says.
U.S. Chamber of Commerce Vows to Use ‘Every Tool’ Against DOL Fiduciary Plan
Meanwhile, ex-EBSA chief Brad Campbell hopes the plan won't block investors from receiving IRA rollover advice.
Raymond James Backtracks on Chargebacks
Raymond James has reversed a decision that would have required some advisors to cover fund fees and charges being refunded to clients after getting pushback from advisors.
How to Take Over a $1 Billion Practice
The anatomy of a high-stakes Morgan Stanley practice acquisition.
Gifts and Entertainment: SEC Reminds Advisors of the Rules
An SEC Guidance Update is a good reminder of the G&E limitations on funds and their advisors; RIAs and BDs should take heed as well.
Why Risk Management Isn’t Like Car Shopping
As cheap risk modeling revolutionizes the way everyone invests, it is important to keep in mind one crucial two-word question: “So what?”
SEC Probing BDs’ Low Number of Suspicious Activity Reports
Considering the volume of transactions and the nature of the BD industry, the SEC's top cop finds the dearth of SARs a little, well, suspicious.
Obama Endorses DOL Fiduciary Redraft, Girds for Fight
“If you want to give financial advice, you have to put your clients’ interest first,” Obama said Monday, blasting “backdoor payments” and high fees.
SEC’s Gallagher: 4 Things White House Fiduciary Memo Got Wrong
The White House memo supporting the DOL measure is "thinly veiled propaganda designed to generate support for a widely unpopular rulemaking," the SEC commissioner said.
SEC, FINRA Enforcement: Fake Hedge Fund Manager Seeks His Perfect Match
The SEC has charged Moazzam Malik with stealing investor money to pay for a matchmaking site membership and Harvard classes, among other expenses.