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.
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.