The Practice: Regulatory/legal issues

• January 14, 2019

  Edward Jones Wins Just 11% of Damages Sought Against Departing FA

  The company had sought $219,000 but was awarded $24,873 in its claim against a former broker who had left the firm to affiliate with Prospera Financial Services.

  No Comments
• January 11, 2019

  Ex-Morgan Stanley Rep Barred for Allegedly Not Cooperating with Investigation

  FA had allegedly engaged in unauthorized outside business.

  No Comments
• January 11, 2019

  Big Push Comes for FA Fee Tax Breaks and Pass-Through Income

  But advisor advocates face an uphill battle with legislators.

  No Comments
• January 10, 2019

  Merrill Lynch Clients Are Losing Stock Holdings, Plaintiff Lawyer Claims

  When account addresses aren’t updated, the shares could end up in state coffers.

  Last Comment: January 10, 2019
  1 Comment
• January 10, 2019

  To Stay on SEC’s Good Side, FA Practices Need to Monitor Online Communications

  A recent risk alert from the regulator says companies must monitor social media and ensure compliance in the use of personal electronics.

  No Comments
• January 9, 2019

  NFL Star's Lawsuit Over Smashburger Investments Alleges Failures to Supervise Multimillion-Dollar Account

  Legal action shows dangers of team approach to wealth management.

  Last Comment: January 11, 2019
  2 Comments
• January 9, 2019

  Morgan Stanley, Merrill Lynch, UBS Among Nine Firms to Launch Their Own Equities Exchange

  The group, which includes broker-dealers, banks, market makers and other financial services firms, aims to file for SEC’s approval early this year.

  Last Comment: January 9, 2019
  1 Comment
• January 9, 2019

  Government Shutdown Halts Critical Meeting on New Tax Shelter

  Investors worry they might trigger capital gains without knowing how to use the new "Opportunity Zones."

  No Comments
• January 8, 2019

  Morgan Stanley, Merrill Lynch and UBS Enforcement Action Revelations Slip Out Between Christmas Ham and New Year's Bubbly

  News of enforcement actions at the wirehouses came at a time when few people are keeping up with industry affairs.

  Last Comment: January 8, 2019
  1 Comment
• January 8, 2019

  LPL, Charles Schwab and Ameriprise Boosted Campaign Spending in the Lead-up to the DOL Rule

  Some financial industry trade groups also maximized their donations to Rep. Ann Wagner, R-Mo., the architect of legislation aimed at killing the rule.

  No Comments