Regulatory / Compliance

Practice - Regulatory/Compliance

New Best Practices Aim to Codify Advisors' Fiduciary Duty

Aiming at a new professional certification, the Institute for the Fiduciary Standard published a draft of best practices for fiduciaries, seeking to help investors distinguish between "product sellers and advice givers."

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Girard Securities' CEO Calls Large SEC Exam 'Routine'

Large data pulls required in stepped-up SEC exam are not related to ongoing troubles at Girard parent RCS Capital or American Realty Capital, CEO says. more »

Auditor of REITs in Schorsch's American Realty Capital Resigns

Latest setback for Schorsch's financial empire as accounting firm steps aside. more »

Spike in Fake ID Schemes Confounds Banks' Fraud Filters

Fake identity fraud is growing, due to the plentiful array of consumer account and card data available in the wake of massive data breaches. It's a crime banks find almost impossible to detect and deter more »

Oppenheimer to Pay $20M Over Penny-Stock Sale Violations

Oppenheimer Holdings will pay $20 million to settle U.S. regulatory claims that it improperly sold billions of shares of penny stocks on behalf of an offshore brokerage. more »

AICPA Asks Congress to Provide Relief to Taxpayers Who Miss Deadlines

The American Institute of CPAs has written to some of the top tax lawmakers in Congress asking them to grant relief to taxpayers in appropriate situations when they miss a statutory deadline or make an error in choosing an election. more »

Ex-UBS Broker Owes $4M in FINRA Arbitration

The claim represents more than half the awards handed out by the regulator against advisors so far this month. more »

Former J.P. Morgan Rep Barred, 2 Others Suspended and Fined

FINRA banned a rep for allegedly forging a customer's signature on bank withdrawal slips, a move that allowed the customer's sister to steal $3,900 from the customer's account. Two others were suspended for relatively minor infractions. more »

Buy the Book: When to Purchase Your Client List

When does it make sense to buy your list of clients? Attorney Alan Foxman explains. more »

Top Investment Management Regulator to Leave SEC

Norm Champ, the SEC’s director of investment management, will resign after five years at the agency, the SEC said. more »

What Obama's State of the Union Address Means for Banks

The president used his annual speech before Congress to defend Dodd-Frank while pleading that lawmakers pass cybersecurity legislation. more »

Cybercrime: A Rising Threat

“Everybody should be concerned about cybersecurity,” says John Taft, CEO of RBC Wealth Management-U.S. more »

Pimco Will Fight Shareholder Lawsuit Over Fees, Salaries

Pimco will fight a lawsuit by a shareholder of its Total Return Fund alleging the company gouges investors with excessive advisory fees to support billion-dollar bonuses for top executives. more »

Veres: 5 Ways Wall Street Lobbyists Are Burning You

Here's what the brokerage industry's disinformation-mongers might be telling senior brokerage executives. more »

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