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.
After the Kenneth Starr Swindle: How Advisors Can Reassure Clients
By Joyce HansonFinancial advisors, RIAs and lawyers point to crucial role of third-party custodians in the aftermath of Kenneth Starr's alleged $30 million fraud.
June 01, 2010
Next Steps for Congressional ActionAs Investment Advisor went to press in mid-May, lobbyists and Congressional staffers were optimistic that the Senate would finish a vote on Senator Christopher Dodd's...
June 01, 2010
The Venture Populist: It's BunkIn the May issue of Investment Advisor, we noted that Senator Chris Dodd's financial services reform bill (being debated on the floor of the Senate...
May 27, 2010
FINRA Head Calls For Scrutiny Of "Wealth Event" SalesFinancial services company supervisors should look carefully at sales involving money that came from an inheritance or a retirement plan cashout, according Financial Industry Regulatory Authority Chairman Richard Ketchum.
May 27, 2010
FINRA proposes new rules for advisors' "back office" staffProposes a new examination requirement that tests support staffs general knowledge and understanding of financial responsibilities.
May 27, 2010
151A update - Do you know what's happening?Any discussion of regulatory issues surrounding fixed index annuities usually starts and ends with Rule 151A--in particular, whether the SEC ultimately will decide FIAs are securities.
May 27, 2010
SEC Asks New York Court to Freeze Advisor's Assets in $7 Million Fraud CaseThe SEC charged Manhattan-based financial advisor Kenneth Ira Starr with fraud and is seeking a court order to freeze his assets after he allegedly stole $7 million in client money for his personal use.
May 27, 2010
FINRA Fines Citigroup for Supervisory Violations in Misappropriation SchemeCitigroup Global Markets Inc. will pay $1.5 million for supervisory violations relating to its handling of trust funds belonging to cemeteries in Michigan and Tennessee, according to a May 27 announcement by FINRA.