SEC Begins Exams of Municipal Advisors; Focus on "Identified Risks"
Over the next two years, OCIE plans to examine a “significant percentage" of muni advisors, "establishing a presence" and focusing on risk.
New Hire Roundup: Convergent Wealth Advisors Welcomes Curran
Also, SEC named two to its Office of Municipal Securities, and Pensionmark Retirement Group welcomed Erik Swenson's firm as a partner.
FINRA Examining Trading in New Puerto Rico Bonds
The Financial Industry Regulatory Authority said it’s examining trading in the $3.5 billion of general-obligation bonds that Puerto Rico sold this month.
FINRA’s Hot-Button Exam Issues for 2014
In its annual list of hot exam items, FINRA warned broker-dealers that it would be zeroing in on a host of areas this year.
SEC Issues Guide on Muni Advisor Registration, Extends Compliance Deadline
Among other matters, the guidance clarifies that advisors using swaps or security-based swaps in municipal entity portfolios do not have to register as municipal advisors.
MSRB Floats Muni Advisor Rule
The proposed rule “strikes an appropriate balance" and is "workable for municipal advisors of all sizes,” says MSRB.
SEC, FINRA Enforcement: Alcoa Fined $384M for Bribery
Meanwhile, Barclays felt FINRA's wrath, and J.P. Morgan Securities racked up two FINRA fines.
New Hire Roundup: Legg Mason Names Hoops Head of Business Development
Also this week in personnel announcements, the MSRB is seeking applications for its board of directors.
SEC Passes Long-Awaited Muni Advisor Rule
Municipal advisors, previously unregulated, will now be overseen by both the SEC and MSRB.
New Hire Roundup: Goldman, Nelson Move Up at NFP; New Vice Chair at FASB
This week in new hires, Michael Goldman became COO and Carl Nelson head of mergers and acquisitions at NFP; John Taft of RBC Wealth Management became a LinkedIn Influencer; more