Federal Regulation
Get the latest news and insights on regulatory developments affecting financial advisors and the stock market and trading, including news about the SEC, DOL, IRS and the Financial Industry Regulatory Authority.
Advisor Allegedly Fast With $2M of Client Funds Makes SEC Furious
By Ginger SzalaMark J. Boucher allegedly created false accounts and said that buying a car with a client's money was "a simple mistake."
August 25, 2020
Wells Fargo to Pay $7.8M in Back Wages Over Hiring DiscriminationThe decision affects some 34,200 African Americans and 310 women who applied for banking, administrative and other jobs.
August 24, 2020
IRS Provides Tax Relief for California Wildfire VictimsThe news comes as the Golden State faces at least 625 fires statewide being battled by 14,000 firefighters.
August 24, 2020
SEC to Take Up Long-Awaited Accredited Investor Definition ChangesAnna Pinedo, partner with Mayer Brown, expects one change will be that various FINRA broker-dealer licenses will be added regardless of net income/net worth.
August 21, 2020
Prepping for SEC Reg BI Exams: What 'Good-Faith' Compliance Efforts Look LikeRegulators won't demand perfect compliance right away, but firms need to show that they're working to disclose and mitigate conflicts.
August 21, 2020
Ex-Raymond James Rep Suspended for Unauthorized TradingThe broker exercised discretion in a client's account without written authorization, FINRA says.
August 21, 2020
Human Capital: SEI's Anderson Sizes Up Likely Changes to SEC's Form CRSIn this episode, John Anderson talks about why Reg BI is just a "small step" toward a "true fiduciary rule."
August 20, 2020
FINRA Warns of Fake Broker WebsitesThe sites use reps' names and other information and may appear to be their personal sites.