The Practice: Regulatory/legal issues
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May 21, 2019Rumors Build of Imminent Reg BI Release, Here's What Broker-Dealers WantNumber one on BD Frims’ checklist: to confirm the new rule doesn’t contain the word fiduciary.No Comments
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May 20, 2019New Jersey Securities Watchdog Fines Former FA $750K Over Alleged Unsuitable TradesGabriel Block says he was never notified of the action against him and will appeal the fine.No Comments
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May 20, 2019Why SEC’s New Reg BI Could Bring More Legal Challenges from ClientsOne broker-dealer CEO says investment performance will likely be the measure of best interest.Last Comment: May 20, 2019
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May 20, 2019Finra to Give B-D Firms Extension to Settle 529 Plan Violations Under Self-Reporting InitiativeThe regulator understands that firms may need more time to collect data.No Comments
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May 20, 2019Broker-Dealer Cannabis Activity Comes Under ScrutinyFinra is reviewing whether firms are complying with their suspicious activity detection and response responsibilities.No Comments
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May 17, 2019SEC Scores Court Win Against Brokerage Over Fraud AllegationsThe regulator had charged Portfolio Advisors Alliance and two of its executives with fraud over misrepresentations in a fund’s offering documents.No Comments
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May 17, 2019Wells Fargo Slams Sacked Employee's Lawsuit Claims as "Tenuous at Best"The ex-advisor argues the wirehouse fired him for complaining about criminal behavior in the office.No Comments
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May 17, 2019Edward Jones and LPL are Reviewing Fees, Products and Potential Conflicts To Prepare for SEC Reg BIBoth firms are leveraging lessons they learned from their DOL rule preparations.Last Comment: May 21, 2019
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May 16, 2019Ex-Mutual of Omaha Advisor Barred in StateEd Matthes allegedly swindled clients out of at least $2.4 million.No Comments
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May 16, 2019Broker-Dealer Exams Face Dramatic OverhaulFinra’s plan is in line with creating more risk-based exams tailored according to business models.No Comments
