Beatty Begins 1-Year Term as NASAA President
William Beatty will focus on senior financial abuse and new electronic state filing of Form D for Rule 506 offerings.
FINRA Reverses Schwab Class Action Waiver Decision
Schwab violated FINRA rules by including class action waivers in customer account agreements, FINRA said.
‘Big Switch’ RIAs Now Regulated by States Exhibit Similar Deficiencies on Exams: NASAA
A NASAA report on advisors who switched from SEC to state oversight shows deficiencies similar to smaller RIAs who had been regulated by the states.
FINRA Review, Investor Choice Act Highlight Arbitration Anomalies
Two recent initiatives are intended to work in investors’ favor when it comes to the controversial practice of arbitration agreements.
Several notable compliance-related measures have been approved—or tabled—by the Securities and Exchange Commission, Financial Industry Regulatory Authority and state securities regulators over the past couple of months that should be on advisors’ and brokers’ radar.
Supreme Court Backs Mandatory Arbitration; NASAA Calls for Action
After the decision, which backed American Express' right to bar class-action suits, Congress must "restore some vestige of consumer protection," NASAA's Heath Abshure said.
Historic Moment as Planner Groups Voice Clear Support for Fiduciary Standard
In a letter to the SEC, the FInancial Planning Coalition and consumer groups make a cogent argument for why the SEC should impose the same standard for all advice givers.
Schwab Backs Off on Class-Action Ban—for Now
Charles Schwab on Thursday said it would lift a ban on client class-action suits until all legal and regulatory challenges were resolved.
NASAA Joins FINRA in Fight Against Schwab Class-Action Ruling
State securities regulators are throwing their support behind FINRA in its battle to overturn a decision by its hearing panel that allowed Charles Schwab & Co. to block customer participation in class-action lawsuits.
Sen. Franken Urges SEC to Ban ‘Unfair’ Arbitration Agreements
Sen. Al Franken, D-Minn., told SEC Chairwoman Mary Jo White in a Tuesday letter to act now to prevent Wall Street brokerage firms from forcing investors into “unfair” arbitration agreements.