For Compliant Advisors, Known (and Unknowable) Unknowns
The SEC, FINRA, DOL — regulations and oversight come from all sides, and anticipating what's compliant today but won't be tomorrow is a tricky game.
FINRA Floats Tougher Expungement Rules
FINRA arbitration panels would have to provide a more detailed rationale for granting a rep's request to have black marks wiped off their BrokerCheck report.
5 New Compliance Headaches for Advisors, BDs
As Labor Day approaches, here are five big compliance developments advisors may have missed in recent months.
SEC Finds Shady Practices in BDs' Structured Product Sales
Examiners found suitability violations including heavy sales to customers who were elderly, didn't speak English or had a conservative investment objective.
FINRA Sweeping BDs on Comp Practices
Recruiter Jon Henschen says FINRA treats BDs like "moonshiners," made to pay "extortion money" in the form of fines for breaking ever-more convoluted rules.
FINRA Floats ‘Watered Down’ BrokerCheck, Broker Bonus Rules
The new broker bonus plan “runs counter to the current industry debate” over a common fiduciary standard, which brokerage firms largely favor, lawyer Patrick Burns says.
White House Memo Offers a Peek at DOL Fiduciary Strategy
Two top Obama economic advisors write in an internal memo that DOL should tighten broker rules; they share some details from the long-awaited fiduciary redraft.
Cambridge Joins Ranks of IBDs Abandoning Schorsch
The group stops sales of three Cole REITs following an accounting scandal at American Realty Capital.
RIA Assets Jumped 12.6% in 2014: IAA/NRS Study
Regulatory assets held by advisors registered with the SEC increased by $6.9 trillion from last year, according to an analysis of filings.
FINRA’s Big-Brokerage Loyalty Revealed in New Bonus Plan: Lawyer
The proposal, which curtails mandatory disclosures, should "leave no doubt" where FINRA’s loyalties lie, lawyer Patrick Burns says; recruiter Jon Henschen argues disclosure is pointless.