SEC Fines Nationwide $8M for Delaying Mailed Customer Orders
For more than 15 years, Nationwide intentionally delayed delivery of untracked mail containing orders from customers, SEC says.
SEC Busts 2 for Bilking Terminally Ill, Blind Seniors
The SEC fined one broker for his role in an annuity scam involving the terminally ill and another for stealing from blind and elderly clients.
Senior Microsoft Portfolio Manager Hit With Insider Trading Charge
The manager and his partner traded on insider info about e-reader investments and quarterly results, the SEC said.
SEC Puts Fund Directors in Spotlight
The SEC enforcement division will put a heightened focus on fund boards’ approval of advisor fees, the co-director of the division said Wednesday.
Head of SEC’s Municipal Securities, Public Pensions Unit Resigns
The SEC announced Friday that Elaine Greenberg is leaving the SEC after 25 years to join the private sector.
The Custody Rule and its Ramifications
When an RIA takes custody of a clients funds or securities, risk to that individual increases dramatically. Rule 206(4)-2 under the Investment Advisers Act (better known as the Custody Rule), was passed to protect clients from unscrupulous investors.
New Hire Roundup: Fidelity Names Presidents, SIFMA Gains President and Board Members
This week in new hires, Fidelity Asset Management announced two new presidents in its fixed income division and SIFMA announced its new president and board members.