SEC Wants Exchange-Traded Funds to Be Easy to Trade
An efficient-markets-fundamentalism model of the SEC is actually pretty good for predicting what the SEC will do. Except about insider trading, I guess.
Enforcement Roundup: Stock Scam by New Yorker Used to Pay for Vacation, Plastic Surgery
Meanwhile, Rajaratnam brother to pay more than $840,000 for insider trading.
Former PIMCO Parent Pacific Life Moves Accounts to Janus
Pacific Life is moving some money to Bill Gross’ new firm, Janus, which said the decision pre-dated Gross’ exit.
Big Reg Charge Slashes LPL’s Q3 Earnings Forecast
One analyst says LPL's "inability to guide effectively on expenses," particularly regulatory ones, is a "recurring problem."
What a GOP Senate Takeover Means for Dodd-Frank, CFPB, User Fees
AEI's Peter Wallison and others weigh in on what it will mean for advisors if Republicans dominate the midterm elections.
SEC's Bowden: Ethical Standards More Important Than Policy, Procedures
Advisory firms striving for compliance “can’t be effective by merely having policy and procedures, even if tested,” the exam chief said.
Perez: DOL Continues Fiduciary Redraft Outreach
DOL wants to “understand with granularity” stakeholders’ problems and concerns regarding the revised rule, the Labor secretary says.
Third of Clients Say They Didn’t Get Adequate Financial Planning Services
New research from the Financial Planning Coalition shows a lack of appropriate regulatory standards for those who say they are “financial planners.”
10 States With Most Advisors Headquartered
Most investment advisory firms’ main offices are concentrated in relatively few states, with distribution likely driven by access to financial markets, population and net worth.
SEC, FINRA Enforcement: HFT Firm Charged With Manipulating Closing Prices
In another action, FINRA slapped TD Ameritrade for a recordkeeping failure.