SEC Finds Shady Practices in BDs' Structured Product Sales
Examiners found suitability violations including heavy sales to customers who were elderly, didn't speak English or had a conservative investment objective.
FinCEN Floats Long-Awaited AML Rule for Advisors
Treasury's enforcement unit proposed Tuesday a rule requiring certain advisors to establish anti-money laundering programs and report suspicious activity under the Bank Secrecy Act.
Arthur Levitt: SEC Deadlocked on Fiduciary, Advisors Need DOL Rule
As the Investment Advisers Act turns 75, ex-SEC Chairman Arthur Levitt, CFA’s Barbara Roper and more discuss why the industry needs a strong fiduciary standard.
It's a Good Time to Visit Muniland, but Come Prepared
David Kotok, co-author of "Adventures in Muniland," and Matt Fabian of Municipal Market Analytics counsel muni bond investors on what to watch out for.
Citigroup in Hot Water Again With SEC, NY Attorney General
Citigroup Global Markets must pay the SEC a $15 million penalty for failing to supervise trades and repay New York customers for investment fee overcharges.
Citi Overlooked a Few Thousand Illegal Trades
A major job of banking compliance is to keep separate a bank's trading and relationship functions. Citigroup Global Markets sometimes messed up that separation.
SEC: BNY Mellon Bribed Officials With Internships for Family Members
The SEC fined the bank $14.8 million for offering three student internships to win business with a Middle Eastern sovereign wealth fund.
Boomers Drive IRA Rollover Surge, Advisors Lead Pack as Recipients: Cerulli
Aging Baby Boomers who consolidate their accounts will push asset growth to $12 trillion by 2020 and advisors, so far, are getting most of it.
Citigroup to Pay $180M for Defrauding Hedge Fund Investors
SEC says that two Citigroup units failed to disclose ‘very real risks’ in the funds, which collapsed in 2008, affecting 4,000 investors.
SEC Hits Edward Jones With $20M Fine Over Muni Bond Overcharges
Firm settles on SEC fraud charges that it overcharged customers on new municipal bond sales.