Disciplinary actions brought by Finra grew 13% last year to 1,310, from 1,158 in 2009, according to a study
IRI report is pre-emptive strike against possible tax change
Judges back earlier decision dismissing litigation against SRO; plaintiff's claim regulator misled members about NASD/NYSE merger
But U.S. Attorney Preet Bharara says civil cases easier to win; 36 wins in 20 months for U.S. attorney
On Wednesday, Finra accused David Lerner Associates of selling an unsuitable investment -- shares of Apple REIT -- to unsophisticated and elderly clients. Sales of Apple REIT comprised 60% of the brokerage's business since 1996, the regulator added. In a statement, the firm said it expects 'to be completely vindicated.'
Wells Fargo wagon slow in getting info to clients, regulator claims; brokerage settles charges for $1M
The Securities and Exchange Commission continues to crack down on Reg D offerings. This go-round, the regulator issued a cease-and-desist order to Capital Financial over the firm's alleged lack of due diligence on a series of privately issued notes.
Finra claims Pinnacle Partners is continuing to mislead potential investors about oil and gas private placements – even though the firm has already been hit with a cease-and-desist order.
Kenneth Marsh pleads guilty to fraud; supposed global operation actually run out of strip mall in Staten Island, prosecutors say
Commission claims Hanlon failed to inform clients that his firm's financial status was 'seriously impaired'
SEC claims Wachovia unit charged excessive markups on CDOs in 2007
Bulk of retiree's savings invested in two non-public mortgage funds; 'didn't have any access to his money'
The regulatory burden on financial advisers is mounting as various government agencies parse the fine points of the Dodd-Frank financial reforms and develop new rules
Don't expect Securities America Inc. to extricate itself anytime soon from the legal headaches and expenses connected with the private placements it sold from Medical Capital Holdings Inc., a now-bankrupt company that turned medical receivables into promissory notes
Securities America Inc. and the Massachusetts Securities Division locked horns last week over the regulator's charges that the firm misled 60 investors in the state who bought $7.2 million in Medical Capital notes from the firm's reps.
Raymond James & Associates must face a lawsuit claiming it defrauded buyers of auction-rate securities, the first class-action complaint following the market's 2008 collapse to survive a judge's initial review.
Maybe the shift from the SEC to state regulation won't be as bad as critics are making it out to be, but observers predict that some advisers will resort to “creative accounting” and “flat-out lying” to avoid having to change their registration
Bring on the fiduciary standard. In a recent InvestmentNews survey of almost 600 advisers, registered reps, financial planners, insurance agents and others, 69.2% said that they agree with the SEC's staff recommendation that any financial professional giving personalized investment advice be deemed a fiduciary
Given the chance to ease its regulatory burden, the Securities and Exchange Commission was expected to recommend that a self-regulatory organization be established to oversee investment advisers
