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.
Next Steps for Congressional Action
By Melanie WaddellAs 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...
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.
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
FINRA Sanctions Citigroup for Supervisory Violations in Misappropriation SchemeMillions were stolen from trusts of cemeteries in Michigan and Tennessee.
May 26, 2010
FINRA Fines Piper Jaffray $700,000 for E-mail InfractionsThe Financial Industry Regulatory Authority (FINRA) recently fined Piper Jaffray & Co. $700,000 for violations related to its failure to retain approximately 4.3 million e-mail messages.