Regulatory & Compliance

Regulatory & Compliance (275)

Morgan Stanley to Pay $60M for Data Protection Miscue

Morgan Stanley has agreed to pay $60 million to settle claims that the bank failed to properly safeguard customer information when it decommissioned two wealth management data centers. So reports Compliance Week.


Mass. Advisor Guilty of Stealing $4M from Clients

Gerald Eaton, a Massachusetts-based investment advisor and financial planner working for Heritage Financial Group pleaded guilty to stealing in excess of $3.7 million. So reports Patch.


FINRA Sanctions Ex-Edward Jones Broker for Directly Settling with Customer

The Financial Industry Regulatory Authority (FINRA) has suspended and fined Michael A. Erwin, a former Edward Jones & Co. broker based in Topeka, Kansas, for negotiating his own settlement with an unhappy customer. So reports Advisor Hub


SEC Says Pandemic Increases Risk of Advisor Wrongdoing

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued an alert that market turbulence caused by the COVID-19 pandemic may heighten “the risks of misconduct in various areas that the staff believe merit additional attention.” So reports Think Advisor.


VALIC FAs Settles with SEC for $40M for Deceiving Teachers

The SEC announced that VALIC Financial Advisors (VFA) will pay $40 million for deceiving teachers in Florida. So reports Financial Advisor


Phishing Emails 'From FINRA' Targeting Brokers

FINRA has warned of a widespread, ongoing phishing campaign that involves fraudulent emails purporting to be from FINRA officers, including Bill Wollman and Josh Drobnyk.


FINRA Sends 50 Potential COVID-19 Related Scams to SEC

FINRA’s National Fraud and Financial Crimes Detection Programs has sent 50 cases to the SEC involving potential fraud by public companies related to COVID-19. So reports Think Advisor.


Ex-Merrill Rep Swindled Pastors, Churchgoers: SEC

The Securities and Exchange Commission charged Phillip W. Conley, an ex-Merrill Lynch registered representative, with a scheme that included “Ponzi-like payments.” So reports Think Advisor.


FINRA to Adopt SEC’s Approach to Reg BI, Form CRS Exams

FINRA said yesterday that broker-dealers can expect the agency to take the same approach to Reg BI and Form CRS compliance exams as the SEC. So reports Think Advisor.


Ric Edelman to Congress: Waive Retirement Account Distribution Requirement

Financial advisor Ric Edelman, founder of Edelman Financial Engines, is calling on Congress to immediately pass legislation that would waive a requirement mandating that Americans 72 years old and older take a Required Minimum Distribution for their retirement account.


Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline