FINRA Reverses Schwab Class Action Waiver Decision
Schwab violated FINRA rules by including class action waivers in customer account agreements, FINRA said.
BD Fee Disclosures Have ‘Wide Disparity’: NASAA
BDs are also using “questionable practices” in relation to fee charges and markups, according to a survey released Thursday by state regulators.
SEC’s New Investor Advocate Says He Has Broad Authority
A "big part" of the job will involve policy, said advocate Rick Fleming. Meanwhile, an investor advisory subcommittee proposed SEC crowdfunding guidelines.
Why the SEC Must Revise Its Proposed Reg A Rule
The SEC wants to transform Regulation A offerings into covered securities, which by law are not subject to state review. That's not what Congress intended.
State Regulators OK Plan to Streamline Filings for Small Offerings
The proposal to have Regulation A filings made in one place would ease compliance costs for small firms trying to raise capital under the JOBS Act, NASAA says.
FINRA’s BrokerCheck ‘Hides’ Criminal Records, Has Other Holes, Study Says
PIABA study says extent of omitted “red flag” information is “so serious that unwitting investors” could hire brokers with criminal records.
NASAA’s Fleming Named SEC’s First Investor Advocate
Rick Fleming, a lawyer, becomes the first person to lead the Office of the Investor Advocate, which was created under Dodd-Frank.
More Advisor Exams? Not Under This SEC Budget, Advocates Say
CFP Board, CFA and others say the SEC's pledge to examine more advisors will be tough to fulfill with only a $29 million increase.
SEC’s Aguilar Laments Slow Adoption of Reg D Protections
"Investors face greater harm" every day the SEC fails to adopt these proposals, Commissioner Luis Aguilar said.
5 Big Regulatory Changes Coming in 2014
Want to prepare your practice for potential changes in the year ahead? Keep your eye on these five areas.