Regulatory & Compliance (359)
Morgan Stanley to Pay $60M for Data Protection Miscue
- Monday, 19 October 2020
- Regulatory & Compliance
- Written by PFA News
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.
Read more...Mass. Advisor Guilty of Stealing $4M from Clients
- Friday, 02 October 2020
- Regulatory & Compliance
- Written by PFA News
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.
Read more...FINRA Sanctions Ex-Edward Jones Broker for Directly Settling with Customer
- Tuesday, 25 August 2020
- Regulatory & Compliance
- Written by PFA News
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.
Read more...SEC Says Pandemic Increases Risk of Advisor Wrongdoing
- Saturday, 08 August 2020
- Regulatory & Compliance
- Written by PFA News
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.
Read more...VALIC FAs Settles with SEC for $40M for Deceiving Teachers
- Wednesday, 29 July 2020
- Regulatory & Compliance
- Written by PFA News
The SEC announced that VALIC Financial Advisors (VFA) will pay $40 million for deceiving teachers in Florida. So reports Financial Advisor.
Read more...Phishing Emails 'From FINRA' Targeting Brokers
- Tuesday, 05 May 2020
- Regulatory & Compliance
- Written by PFA News
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.
Read more...FINRA Sends 50 Potential COVID-19 Related Scams to SEC
- Tuesday, 05 May 2020
- Regulatory & Compliance
- Written by PFA News
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.
Read more...Ex-Merrill Rep Swindled Pastors, Churchgoers: SEC
- Tuesday, 21 April 2020
- Regulatory & Compliance
- Written by PFA News
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.
Read more...FINRA to Adopt SEC’s Approach to Reg BI, Form CRS Exams
- Thursday, 09 April 2020
- Regulatory & Compliance
- Written by PFA News
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.
Read more...Ric Edelman to Congress: Waive Retirement Account Distribution Requirement
- Tuesday, 24 March 2020
- Regulatory & Compliance
- Written by PFA News
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.
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