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.
BD Violated Reg BI With Excessive Trading That Cost Clients $1M: SEC
By Melanie WaddellPHX Financial and a registered rep made over $400,000 in commissions and fees while clients lost money, the SEC said.
October 16, 2024
Client Sues Barred Broker Over 'Devastating' Life Insurance PlanBarred brokers selling complex life insurance plans is a growing problem, the client's lawyer says.
October 16, 2024
Ex-Ameriprise Broker Sanctioned Over Leveraged ETFsGeorge Snyder IV recommended ETFs not typically advised for retail investors, FINRA says.
October 16, 2024
Citadel Securities to Pay $1M Over CAT Reporting FailuresCitadel Securities fell short on reporting data for tens of billions of order events, FINRA says.
October 16, 2024
XYPN Unveils 'New Path to Independence' via Corporate RIA, With a TwistThe Sapphire offering differs from other corporate RIAs in key ways, co-founders Michael Kitces and Alan Moore say.
October 15, 2024
Ameriprise Says LPL Urged Advisor to Improperly Lure ClientsLPL's "regular pattern and practice is to encourage recruits to violate their contractual agreements," Ameriprise alleges.
October 14, 2024
Jeff Levine Joins Tax Planning Faculty at American CollegeLevine will help advisors meet client demand for tax-informed planning.
October 11, 2024
Citi: Advisor Improperly Lured Clients to Move Millions to Wells FargoMichael Fowler contacted clients multiple times to solicit them to switch firms, Citi alleges.