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.
FINRA and SEC Warn About Annuity Risks
By Melanie WaddellFINRA is looking closely at disclosure, suitability and yield-chasing practices associated with VAs.
June 26, 2012
The Heat Rises on FINRA as Advisor SROJust as a government watchdog is pressuring the Securities and Exchange Commission (SEC) to beef up its oversight of the Financial Industry Regulatory Authority (FINRA), Congress is mulling whether to give FINRA the power to oversee advisors.
June 26, 2012
Ex-EBSA Head Sees No Fiduciary Plan Before ElectionBrad Campbell, the former head of EBSA, predicted Tuesday that the DOL wont release its reproposed fiduciary rule until after the presidential election in November.
June 26, 2012
FINRA and SEC Warn About Annuity RisksFINRA is looking closely at disclosure, suitability and yield-chasing practices associated with VAs.
June 26, 2012
SEC ‘Seriously Considering’ Simpler VA ProspectusInvestor demand for an alternative to the 150- to 300-page VA prospectus remains strong, according to a just-released survey by the IRI, and the SEC is seriously considering approving shorter documents.
June 25, 2012
FINRA’s Selman: No Political Appetite for User Fee ApproachThe passage of legislation to allow the SEC to collect user fees to fund advisor exams in the current political environment is very unlikely, a FINRA official said Monday.
June 21, 2012
Merrill Overcharged Clients $32M in Fees, FINRA SaysThe overcharges in fees affected 95,000 accounts over an eight-year period, making it a significant supervisory issue, experts say.
June 21, 2012
SEC, FINRA, DOL Enforcement Roundup: Investment Advice From the HeavensRecent enforcement actions included an astrology-based Ponzi scheme, along with fines for Morgan Keegan, Edward Jones and Janney Montgomery Scott.