Actions Against BD Agents, Unlicensed Individuals Jumped in ’13: NASAA
The majority of state securities enforcement actions involve unlicensed individuals, NASAA says.
Prison Time for Securities Lawbreakers Jumps 33%: NASAA
“The increase in jail time reflects the increasing complexity and heinousness of the crimes state securities regulators investigate,” NASAA says.
State-Registered Advisors Prep for New Succession Planning Rules
State-registered advisors should act now to prepare for NASAA's upcoming rules requiring business continuity and succession plans, state regulators say.
Beatty Begins 1-Year Term as NASAA President
William Beatty will focus on senior financial abuse and new electronic state filing of Form D for Rule 506 offerings.
Cyberattacks on Small, Midsize Advisors Go Undetected
Small and midsize advisors self-report few breaches because they lack the technology and sophistication to detect them, a tech specialist says.
BDs, Trade Groups Team Up to Clarify Murky BD Fees
FINRA, SIFMA and other groups, with LPL and other BDs, have joined forces to develop rules that ensure BDs’ fees are easily understood by investors.
Most State-Registered Advisors Have Tech, Cybersecurity Policies: NASAA
Though less than 5% of small and midsize firms said they had a cybersecurity incident, two-thirds said they had cybersecurity policies in place.
Elder Financial Abuse Targeted by State Regulators
Since 2008, NASAA said, more than 34% of enforcement actions by state securities regulators have involved senior victims.
FINRA Move on Brokers' Expungement a Good First Step
Over the past five years, state securities regulators have used the CRD and IARD public records to weed out more than 20,000 bad actors.
Massachusetts, Illinois Surveying Advisors on Cybersecurity
Advisors' responses could prompt changes in state regulations, Massachusetts securities regulator William Galvin says.