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Registered Rep.
May 2, 2007
John Churchill |
SEC Fines A.G. Edwards for Failure to Supervise Add A.G. Edwards to the long list of firms that have been fined by the SEC for long-ago failures to supervise brokers who deceptively market timed mutual funds.   |
Registered Rep.
September 23, 2008 |
SEC Charges Miami Broker Gary Gross Gary Gross has been charged with fraud by the SEC for selling his elderly clients unsuitable investments. |
Wall Street & Technology
June 29, 2005
Maria Santos |
Thomsen Replaces Cutler at SEC Enforcement Head The SEC named Linda Chatman Thomsen director of the division of enforcement. Thomsen joined the SEC in 1995 and has served as the enforcement division's deputy director since 2002. |
Registered Rep.
December 1, 2006
John Churchill |
Blotter Shelf Space No No... Broker Gets 14 Years... |
CFO
June 1, 2009
Reason & Stuart |
Crackdown Alert After a GAO report documents a slowdown in the SEC's case generation and penalty volume under former chairman Christopher Cox, the regulator's new leaders talk tough. |
Registered Rep.
March 27, 2006
Kristen French |
SEC Targets Investment Traps Set For Seniors The move against the "free lunch," as they are generally called, is part of a larger initiative launched to protect senior citizens from investment scams and unsuitable recommendations. |
Investment Advisor
September 2009 |
Broker/Dealer News Actions by the SEC and FINRA |
Registered Rep.
October 1, 2005
John Churchill |
Play Time Is Over for Citizens Citizens Financial Group is punishing its brokerage force for targeting elderly bank customers in the sale of its high-risk variable annuities. |
Registered Rep.
May 1, 2006 |
Cashin' In Q: I'm handling an account for an elderly client who has several million dollars in assets... the client says she's satisfied with the profits and wants me to go to cash. I believe this is the wrong way to go. The customer insists. What should I do?... Answers follow... |
Registered Rep.
May 24, 2006
Kristen French |
Broker Sanctioned for Violation of Patriot Act After nearly a year and a half since the law's passage and after over a dozen brokerage firm audits, the SEC took its first enforcement action against a broker/dealer. Yet, in so doing, the SEC noted that broker/dealers are generally doing a very good job of complying. |
Registered Rep.
December 16, 2005
Halah Touryalai |
Former Pru Broker Penalized for Abusive Trading Three years after the SEC charged five Boston-based Prudential Securities brokers for abusive mutual fund trading, one of the accused is being temporarily barred from association with any broker/dealer or investment advisor. |
Investment Advisor
March 2010
James J. Green |
B/D News Bulletins and news of interest to broker/dealers from FINRA and the SEC. |
Investment Advisor
March 2009
James J. Green |
News: SEC's Top Cop Linda Chatman Thomsen, the director of the SEC's Division of Enforcement, said February 9 that she would leave the Commission and return to the private sector. |
Financial Planning
November 1, 2009
Robert Pozen |
Think Twice Congress is seriously debating legislation that would significantly expand the coverage of the Investment Advisers Act, empower the SEC to make rules on advisor compensation and increase the likelihood of lawsuits against advisors. |
BusinessWeek
May 20, 2010
Jesse Westbrook & David Scheer |
How Big a Hit Will Goldman Take? Congress and the public expect the SEC to extract a big fine |
Registered Rep.
September 1, 2005
Karen Donovan |
Under Siege Executives of broker/dealer firms are not exaggerating when they say it seems like regulators are locked into a competitive battle to collect the most pelts on Wall Street. |
Registered Rep.
December 1, 2004
Karen F. Donovan |
Raymond James Fights a Lonely Battle with the SEC After nearly two years of negotiations, the agency charged Raymond James Financial Services with civil fraud in connection with the conduct of a rogue broker who worked off-site as an independent rep in Cranston, R.I. |
The Motley Fool
September 11, 2007
S.J. Caplan |
No Free Lunch Regulators are still clamping down on "free lunch" scams targeted at seniors. A recent investigation has revealed these sessions to be high-pressure sales pitches of misleading claims and unsuitable financial products, and even fraud. |
Registered Rep.
March 11, 2009
Halah Touryalai |
Extreme Makeover: SEC With or without an increased budget, the SEC wants to make up for its shortcomings. |
Investment Advisor
August 2009 |
B/D News Broker/Dealer news: SEC Enforcement... BOA and broker protocol... FINRA surveys retail sales practices... |
Investment Advisor
August 2010
Melanie Waddell |
Advice to the SEC When it comes to the fiduciary standard, Capital Analysts President and CEO Matt Lynch says advisors "want to be sure the SEC seeks and gathers input from the industry as to how to implement these important changes." |
Investment Advisor
April 2009 |
Changes People on the move: Paul Reilly will replace current Chairman and CEO Tom James as CEO of Raymond James Financial... FINRA hires Richard (Rick) Ketchum as its CEO... |
Registered Rep.
September 21, 2005
Susan Konig |
Rogue Broker's Management Culpable Raymond James Financial Services (RJFS) was ordered to pay a $6.9 million fine to the SEC for failing to supervise Dennis Herula, a former broker who is currently in prison after pleading guilty to federal charges of fraud. |
Registered Rep.
July 1, 2006
John Churchill |
Blotter SEC Tackles Wachovia Insider... Supervisory Meltdown... Market Timing Geeks... |
Registered Rep.
January 9, 2007
John Churchill |
To Hedge Gets Harder The SEC proposed a rule in December that would raise the net worth requirements of investors in hedge funds to $2.5 million from $1 million, not including the value of one's home. |
Investment Advisor
March 2009
Melanie Waddell |
Reform Is on the Way SEC Chairwoman Mary Schapiro is laying the groundwork for a significantly beefed up enforcement division at the Commission. |
Registered Rep.
May 9, 2007
Christina Mucciolo |
Morgan Stanley to pay $7.96 Million for Best Execution Fraud The SEC announced that Morgan Stanley will pay penalties to settle the charges against the firm for failing to provide best execution to clients. |
CFO
April 1, 2005
Tim Reason |
The Limits of Mercy The cost of cooperating with the SEC is high. The cost of not cooperating is even higher. Faced with financial penalties, career-ending bans, and possible criminal prosecution, more individuals are choosing to fight the SEC. |
On Wall Street
October 1, 2009
Thomas O. Gorman |
SEC v. Bank of America: Where to Go From Here? The SEC thought it had completed an investigation, brought an enforcement action and then settled it. |
Registered Rep.
February 17, 2009 |
News Roundup: $8 Billion Fraud, Market Tests Lows And Michael Moore "Investigating" Wall Street Robert Allen Stanford and three of his financial companies have been charged with orchestrating an $8 billion fraud...Michael Moore looking for Wall Streeters... A cartoon video... |
Registered Rep.
February 2, 2006
Kristen French |
Brokers Learning to Play by New Rules It's no longer business as usual on Wall Street. Starting yesterday, broker/dealers must follow a new SEC rule that requires them to disclose at certain times that they may not be acting in their clients' best interest. |
InternetNews
March 9, 2007
Clint Boulton |
SEC Cracking Down on Spam 'Pump and Dump' The SEC has suspended securities trading of 35 companies as part of a new crackdown on market manipulation via spam. |
Registered Rep.
November 3, 2004 |
Broker or Advisor---Who Knows the Difference? More than half of American investors look to brokers for more than just transactional assistance, according to new research, which also finds that investors don't understand the differences between brokers and registered investment advisors. |
Investment Advisor
February 1, 2011
Melanie Waddell |
2011: The Year the Advisors' Playing Field Fundamentally Changes All eyes this year will be focused on the exchanges that will ensue between lawmakers and the Securities and Exchange Commission regarding putting brokers under a fiduciary mandate and appointing a self-regulatory organization. |
Investment Advisor
February 2008
Melanie Waddell |
A Groundbreaker SEC's Rand report, of the broker/dealer and investment advisory industries will dominate the discussion among brokers and advisors in 2008. |
Registered Rep.
June 24, 2010
Kristen French |
Congress Agrees to Fiduciary Standard For Brokers In negotiation over Wall Street reform Thursday, Senator Tim Johnson (D., S.D.) accepted a final counter-offer from the House this afternoon that would give the SEC rulemaking authority to extend the fiduciary duty to brokers who provide investment advice. |
Financial Advisor
January 2004
Jay Gould |
Washed Up On The Banks Of Denial The SEC has changed its policies regarding anti-fraud consent injunctions. How should investment advisors react? |
Investment Advisor
July 1, 2011
Melanie Waddell |
Fiduciary D-Day Arrives As the SEC launches into rulemaking, lots of 'thorny issues' will surface. |
Investment Advisor
February 2009
Melanie Waddell |
Mary Schapiro's Priorities Mary Schapiro tells the Senate Banking Committee what her priorities will be at the SEC. |
Registered Rep.
September 10, 2008 |
Bank of America to Buy Its ARs Back The nation's second-largest bank by assets settled an investigation by Massachusetts regulators, agreeing to buy back $4.5 billion worth of the securities. |
CFO
October 1, 2011
Sarah Johnson |
Is the SEC Being "Set Up to Fail"? A bill would raise the threshold for how the securities regulator sets rules. |
Investment Advisor
October 2010
Melanie Waddell |
Dissecting the FSI's Position on Fiduciary As a new study finds investors still confused, Financial Services Institute president Dale Brown presents the independent broker/dealer perspective. |
Investment Advisor
May 1, 2011
Bob Clark |
The Polar Bears Thawing out our modern black and white thinking could save the fiduciary standard. I don't usually write about politics, except when it has a direct impact on financial advice, and this appears to be one of those times. |
Registered Rep.
March 30, 2005
John Churchill |
House Urges SEC to Adopt Broker-Dealer Exemption Rule At issue, at least as far as financial planners are concerned, is that registered reps are presenting themselves as fiduciaries, when in fact they are brokers with a less-than-fiduciary responsibility to their clients. |
Investment Advisor
May 1, 2011
Kathleen McBride |
SEC and the Fiduciary Study: Where Do We Go From Here? It's not whether to extend fiduciary duty, but how to extend it |
Investment Advisor
February 2009
Melanie Waddell |
Is Mary What the SEC Needs? The alternative to FINRA overseeing advisors, and what advisors would definitely prefer, is a self-regulatory organization. |
National Defense
November 2011
Piazza & Ayers |
Regulators Flex Foreign Corrupt Practices Act Enforcement Muscles Continuing a trend that started late in the last decade, the Securities and Exchange Commission this year continues to raise the bar on the enforcement of the Foreign Corrupt Practices Act of 1977. |
Registered Rep.
April 26, 2007
John Churchill |
To Appeal or Not to Appeal? SEC Feels Heat Over Pro-FPA Court Ruling The SEC is feeling lobbyist pressure from both sides as it prepares to either appeal or let stand the ruling by a Federal Court of Appeals that vacated the "Merrill Lynch" rule. |
Registered Rep.
June 1, 2005
Karen Donovan |
No More Slap on the Wrist Regulators are getting tough and creative on registered reps because they suspect that fines aren't a strong enough deterrent to stop illegal behavior. |
Registered Rep.
November 3, 2003
Will Leitch |
Fund Scandal Implicates Stockbrokers The mutual fund trading scandals headlines seemed to implicate mutual fund family executives and hedge funds -- everybody but individual retail brokers and brokerage management. But a new survey by the SEC charges brokers with abusive trading of mutual funds. |
