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
SIFMA Pushes for Higher Muni Trading Standard
The industry group is asking the Municipal Securities Rulemaking Board to follow its suggestions for the good of investors.
MSRB Warns Investors, BDs About Sequestration’s Impact on Direct-Pay Bonds
The MSRB warned investors Wednesday to be aware of the terms of certain types of direct-pay municipal bonds to better understand any potential impact the federal sequestration has on them.
SEC, FINRA Enforcement: Father, Son Cherry-Picking Scheme; South Miami in Muni-Bond Fraud
Recent enforcement actions include charges against a father and son for making undeclared trades and then cherry-picking the profitable ones, and charges against the city of South Miami for defrauding investors on muni bonds.
MSRB (Still) Awaits SEC Muni Advisor Rule; Plans EMMA 2.0
Three years after passage of the Dodd-Frank Act, the Municipal Securities Rulemaking Board is still waiting for the SEC to issue its rule defining who is a municipal advisor.
New Hire Roundup: LPL Financial Welcomes Lochan
This week in new hires, Brendt Stallings and Husam Nazer joined DoubleLine, the MSRB board announced that it is looking for a few good applicants, and Citi named two new co-presidents.
SEC, FINRA Enforcement Roundup: Schwab's BrokersXpress Hit With Another Fine
FINRA and the SEC recently took action against a number of firms for everything from fraud to supervisory failure that in some cases cost the firms dearly.