Regulatory & Compliance (359)
SEC Follows Finra, Massachusetts in Barring Advisor from Industry
- Friday, 03 August 2018
- Regulatory & Compliance
- Written by PFA News
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.
Read more...SEC Commissioner Says Best Interest Reg Could Harm Investors
- Friday, 03 August 2018
- Regulatory & Compliance
- Written by PFA News
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.
Read more...SEC Charges Advisor with Defrauding Investors
- Friday, 20 July 2018
- Regulatory & Compliance
- Written by PFA News
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...
NY Adopts Best Interest Rule for Insurance Sales
- Friday, 20 July 2018
- Regulatory & Compliance
- Written by PFA News
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.
Read more...SEC Seeks Input from Main Street Investors on Best Interest Rule
- Saturday, 07 July 2018
- Regulatory & Compliance
- Written by PFA News
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...
LPL Reaches Settlement Over Illegal Sale of Securities
- Saturday, 16 June 2018
- Regulatory & Compliance
- Written by PFA News
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...
Model Annuity Law Requires Increased Disclosures
- Saturday, 02 June 2018
- Regulatory & Compliance
- Written by PFA News
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...
Goldman Sachs Bankers Charged with Insider Trader
- Saturday, 02 June 2018
- Regulatory & Compliance
- Written by PFA News
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...
Fifth Third Reaches $6M Annuities Settlement
- Saturday, 12 May 2018
- Regulatory & Compliance
- Written by PFA News
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...
Resignation of SEC's Piwowar Casts Uncertainty on Rulemaking
- Saturday, 12 May 2018
- Regulatory & Compliance
- Written by PFA News
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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