The Practice: Regulatory/legal issues
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May 24, 2019DOL to Roll Out Reincarnated Fiduciary Rule in DecemberThe comment period for a new proposal is scheduled to open in July.No Comments
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May 24, 2019SEC to Vote on Regulation Best Interest June 5The commission will consider whether to adopt rules on investment advisor and broker conduct and the proposed customer relationship summary form.No Comments
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May 23, 2019UBS Ordered to Pay $7.8M Over Puerto Rico BondsA Finra arbitration panel had ordered the firm to pay compensatory damages to a married couple and their firm and purchase assets from their account.No Comments
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May 23, 2019Redtail CRM Data Breach May Have Exposed FA Client InfoThe client relationship software provider told affected advisors that the data was temporarily available to anyone on the internet but affected less than 1% of Redtail’s clients.No Comments
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May 22, 2019Why Finra Has Zeroed in on College Savings PlansIt’s really about investor protection, says Finra.
Transcript Video [ 5:23 ] No Comments -
May 22, 2019Morgan Stanley Ordered to Pay Clients $519K Over Allegedly Unsuitable RecommendationsA New Mexico couple alleged that a Morgan Stanley advisor put them into complex investments such as derivative-linked ETFs and options contracts.Last Comment: May 22, 2019
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May 22, 2019SEC Commissioner Says SCOTUS Ruling on False Statements Raises Big Enforcement QuestionsHester Peirce says SEC must act reasonably when evaluating cases for potential enforcement.No Comments
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May 22, 2019Senators Urge Finra to Bar FAs from Receiving Client InheritanceFour U.S. senators say such inheritance bequests are conflicts of interest.No Comments
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May 21, 2019Brokerage Exec Says SEC’s Regulation BI Could Limit Choice of InvestmentsThe proposed regulation could cause brokerages to simply pull certain products off their platforms.No Comments
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May 21, 2019Deutsche Bank Reportedly Turned a Blind Eye to Private Bank’s Dealings with TrumpCurrent and former employees say compliance staff raised red flags that were ignored.Last Comment: May 21, 2019
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