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Regulatory & Compliance

Regulatory & Compliance (359)

SEC Follows Finra, Massachusetts in Barring Advisor from Industry

Friday, 03 August 2018
Regulatory & Compliance
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Former LPL advisor Roger S. Zullo, who has been barred from working in the industry by Finra and the state of Massachusetts, has just been barred from the industry by the Securities and Exchange Commission. So reports Financial Advisor Magazine. 

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SEC Commissioner Says Best Interest Reg Could Harm Investors

Friday, 03 August 2018
Regulatory & Compliance
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Securities and Exchange Commissioner Hester Peirce maintains that the regulator’s proposed Regulation Best Interest, or Reg BI, for brokers, could accelerate the trend of brokers becoming registered investment advisors who focus on larger investors. So reports Think Advisor.

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SEC Charges Advisor with Defrauding Investors

Friday, 20 July 2018
Regulatory & Compliance
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Kimberly Pine Kitts, who was formerly an advisor in the Cape Cod area, has been charged by the Securities and Exchange Commission with of stealing more than $3 million from clients’ investment and retirement accounts. So reports Think Advisor. Read more...

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NY Adopts Best Interest Rule for Insurance Sales

Friday, 20 July 2018
Regulatory & Compliance
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The New York State Department of Financial Services implemented a “best interest” standard for advisors who sell life insurance and annuity products. So reports NAPA.

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SEC Seeks Input from Main Street Investors on Best Interest Rule

Saturday, 07 July 2018
Regulatory & Compliance
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SEC Chairman Jay Clayton will hold roundtable discussions with “Main Street investors” this month to hear their views about their relationships with investment professionals. So reports ThinkAdvisor. Read more...

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LPL Reaches Settlement Over Illegal Sale of Securities

Saturday, 16 June 2018
Regulatory & Compliance
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LPL Financial has reached an agreement with Massachusetts to reimburse investors who were improperly sold unregistered securities by the broker-dealer in 2006. So reports ThinkAdvisor. Read more...

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Model Annuity Law Requires Increased Disclosures

Saturday, 02 June 2018
Regulatory & Compliance
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A model annuity law being developed by the National Association of Insurance Commissioners stipulates that advisors would need to disclosure to clients the basis for their annuity recommendations. So reports Insurance News Net. Read more...

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Goldman Sachs Bankers Charged with Insider Trader

Saturday, 02 June 2018
Regulatory & Compliance
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Woojae "Steve" Jung and an unnamed co-conspirator have been charged with trading on material nonpublic information that Jung accessed while working at an investment bank, which appears to be Goldman Sachs based on FINRA records. So reports CNBC. Read more...

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Fifth Third Reaches $6M Annuities Settlement

Saturday, 12 May 2018
Regulatory & Compliance
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Fifth Third Securities has agreed to pay a $4 million fine and $2 million in restitution to settle FINRA charges. So reports BIC. Read more...

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Resignation of SEC's Piwowar Casts Uncertainty on Rulemaking

Saturday, 12 May 2018
Regulatory & Compliance
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Securities and Exchange Commissioner Michael S. Piwowar, who is a Republican, is resigning from his post, which will create an even spilt between Democrats and members of the GOP who are charged with rulemaking. So reports Seeking Alpha. Read more...

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