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.
As RCAP Shares Crash, Cetera Recruiting and Retention Could Suffer
The firm's stock has plummeted 80% this year; the reorganization news isn't helping.
Cetera Shuttering Broker-Dealer, Pushing Out Some Reps
Recruiter says about half of the J.P. Turner advisors have been invited to join Summit Brokerage.
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.
The SEC Is Broken; Evaluating Smart Beta; Where Are the Privately Owned BDs?: December Investment Advisor—Slideshow
As the main regulator of the financial services industry, the SEC has three important jobs, but the agency is facing headwinds that keep it from doing those jobs as efficiently as possible.
Investors Back More Broker Regulations: FINRA Survey
Nearly three-quarters of investors support more regulations to safeguard them from broker misconduct, an online survey from FINRA found.
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.