Massachusetts' top securities regulator is suing RBC Capital Markets LLC and one of its former registered representatives over the sale of leveraged exchange-traded funds, saying they sold them to clients who didn't understand how the investments worked.
Investment advisers who must migrate from regulation by the Securities and Exchange Commission to state oversight now will have extra time to make the transition.
An SEC rule proposal intended to thwart the likes of Bernard Madoff likely would result in significantly higher compliance costs for smaller broker-dealers.
Addressing an issue that many thought had been resolved several years ago, Massachusetts last week filed an administrative complaint against RBC Capital Markets LLC and one of its former brokers, Michael Zukowski, for “dishonest practices in selling leveraged and inverse leveraged ETFs"
MSSB big Charles Johnston says move to fee-based model has been ongoing for six months; dubbed 'safe harbor' by RBC's Taft
Clients of a prominent Bank of America Merrill Lynch broker have won an $880,000 arbitration award against the firm.
Notes didn't protect Croce's principal -- once issuer Lehman went belly up; at least 40 cases still pending
Trustee petitions judge to issue subpoena to fund firm's National Financial Services unit; examining the money trail
Whistle-blowers can collect as much as 30% of penalties when they report wrongdoing, even when they bypass their internal complaint systems.
With registration requirements looming, more hedge fund managers are likely to follow George Soros in opting for the family office structure over the red tape of running a hedge fund.
DOL's latest start date — Jan. 1 — still too soon, industry group contends
Phyllis Borzi has come a long way since her days as a high school English teacher.
Putting an end to a bitter dispute over the sale of failed private placements, Securities America Inc. has agreed to make whole 63 Massachusetts clients who bought $5 million of failed notes issued by Medical Capital Holdings Inc.
Finra president Richard Ketchum says brokerages must make certain reps understand how complex financial instruments work -- before hawking them to clients.
Regulator claims marketing material produced by B-D was misleading; settlement reached
Industry regulator shelled out more than $300K in first quarter; entire financial industry spending big bucks bending ears
Brokers are up in arms about what they say is an increasing number of fines for innocent trade-reporting errors.
Neuberger Berman Group LLC, a money manager that was part of Lehman Brothers Holdings Inc., was ordered by an industry regulator to pay about $4 million to three clients who bought structured notes backed by the failed investment bank
HMOs, even Apple undervalued, fund manager says; mess in Washington will get straightened out
