The Practice: Regulatory/legal issues
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January 14, 2019Edward Jones Wins Just 11% of Damages Sought Against Departing FAThe 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
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January 11, 2019Ex-Morgan Stanley Rep Barred for Allegedly Not Cooperating with InvestigationFA had allegedly engaged in unauthorized outside business.No Comments
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January 11, 2019Big Push Comes for FA Fee Tax Breaks and Pass-Through IncomeBut advisor advocates face an uphill battle with legislators.No Comments
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January 10, 2019Merrill Lynch Clients Are Losing Stock Holdings, Plaintiff Lawyer ClaimsWhen account addresses aren’t updated, the shares could end up in state coffers.Last Comment: January 10, 2019
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January 10, 2019To Stay on SEC’s Good Side, FA Practices Need to Monitor Online CommunicationsA recent risk alert from the regulator says companies must monitor social media and ensure compliance in the use of personal electronics.No Comments
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January 9, 2019NFL Star's Lawsuit Over Smashburger Investments Alleges Failures to Supervise Multimillion-Dollar AccountLegal action shows dangers of team approach to wealth management.Last Comment: January 11, 2019
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January 9, 2019Morgan Stanley, Merrill Lynch, UBS Among Nine Firms to Launch Their Own Equities ExchangeThe 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
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January 9, 2019Government Shutdown Halts Critical Meeting on New Tax ShelterInvestors worry they might trigger capital gains without knowing how to use the new "Opportunity Zones."No Comments
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January 8, 2019Morgan Stanley, Merrill Lynch and UBS Enforcement Action Revelations Slip Out Between Christmas Ham and New Year's BubblyNews of enforcement actions at the wirehouses came at a time when few people are keeping up with industry affairs.Last Comment: January 8, 2019
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January 8, 2019LPL, Charles Schwab and Ameriprise Boosted Campaign Spending in the Lead-up to the DOL RuleSome 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