The Practice: Regulatory/legal issues

Game Over For Reps in Ohio National Trail Lawsuits? Not Yet, Lawyers Say

October 11, 2019No Comments

Broker-dealer reps suing over Ohio National have suffered a setback, but it’s not the end of their battle, their lawyers say.

Ex-Morgan Stanley Advisor Barred After Insider Trading Conviction

October 11, 2019No Comments

Last year the man pleaded guilty to conspiracy to commit securities fraud.

Morgan Stanley Dodges $150 Million Class Action

October 11, 2019No Comments

The lawsuit was based on challenges to its employee retirement plan.

Merrill Lynch FA Turned Police Officer Tragically Killed

October 11, 2019No Comments

The NYPD officer was on duty in the Bronx.

New Jersey Edging Closer to Finalizing its Fiduciary Rule for Advice Industry

October 11, 2019No Comments

The chief of the New Jersey Bureau of Securities is unfazed by the threat of preemption or criticism from the industry.

Morgan Stanley Scores Legal Victory Over Self-Dealing Suit

October 10, 2019No Comments

A Manhattan federal court judge dismissed a suit alleging it had stuffed its plan’s options with underperforming and overpriced proprietary funds.

A Quarter of Small RIAs Found to Have Cybersecurity Deficiencies

October 10, 2019No Comments

State-registered RIAs — those with $100 million or less in assets — come up short on vulnerability testing, password strength and other cybersecurity issues, research finds.

SEC Considers Easing Accredited Investor Rules But State Regulators and Consumer Advocates Warn of Dire Consequences

October 10, 2019No Comments

For brokers and advisors, it would mean having a bigger pool of investment products and strategies to offer retail investors.

Finra Suspends and Fines Ex-LPL Broker for Undisclosed Nutritional Supplement Business

October 10, 2019No Comments

He allegedly violated Finra rules when he didn’t give LPL prior written notice of his outside business activity.

Merrill Lynch Broker Barred for Actions Related to Personal Bank Accounts

October 10, 2019No Comments

The rep refused to appear for testimony at a Finra hearing.