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.
Enforcement Roundup: Wells Fargo, JPMorgan Slammed Over Mortgage Kickbacks
Meanwhile, the SEC charged a Fort Lauderdale-based advisory fund manager and his firm with running a Ponzi scheme to buy jewelry, cars and a house.
Variable Annuities a Top Source of Customer Complaints: FINRA
Two top officials at the Financial Industry Regulatory Authority and the Securities and Exchange Commission recently highlighted their concerns regarding annuities.
John Mack: ‘Stop Beating Up on Lloyd and Jamie’
Former Morgan Stanley CEO talks to Bloomberg TV about Barclays' recently announced mass layoffs and whether CEOs, on and off Wall Street, are overpaid.
FINRA’s Hot-Button Exam Issues for 2014
In its annual list of hot exam items, FINRA warned broker-dealers that it would be zeroing in on a host of areas this year.
Goldman Sachs to Offer Structured Products to RIAs on CAIS-X
CAIS co-founder and president Rafay Farooqui, who started his career at Goldman, says structured products are a natural extension of CAIS' current offerings.
SEC’s 16 Biggest Penalties Since Financial Crisis
The SEC recently released a roundup of its financial crisis enforcement actions, highlighting some of the more than 150 firms and individuals the agency has levied charges against since 2008.
FINRA Updates Guidance on Communications With Public
FINRA released in early January an updated set of questions and answers on its new rule on communications with the public.
Breach of Fiduciary Duty Most Common FINRA Complaint
While attending the last in a series of events to celebrate what the Institute for the Fiduciary Standard christened as Fiduciary September, one comment stood out: The No. 1 compliant in FINRA arbitration cases is breach of fiduciary duty.
Breach of Fiduciary Duty No. 1 Complaint in FINRA Arbitration Cases
Experts including former SEC Chairman Harvey Pitt and Ron Rhoades debated whether brokers should be held to the same fiduciary standard as advisors.