Practice

UBS Securities has once again been penalized for its improper handling of short sales. This time, the fine from the SEC is for $8 million and follows a $12 millon fine imposed by FINRA less than two weeks ago.

A new research study found that when people were shown age-progressed images of themselves depicting what they’d look like at 65, working-age adults were willing to allocate almost 33% more of their paychecks to their retirement accounts than those who didn't get a sneak peek at their future faces.

Typically, it takes a storm to disengage the autopilot and force advisors into making positive changes in their life. But Steve Sanduski, the Prosperous Advisor, says it’s important for financial advisors to be proactive about improving their lives and their practice before it’s too late.

J.P. Morgan Asset Management is advocating a fundamentally different approach to defined contribution plans by stripping down offerings and complexities to a menu of just three choices: a diversified stock portfolio, a diversified bond portfolio and one offering diversified cash alternatives.

Ultra-high-net-worth individuals, defined as those with a net worth of more than $30 million, in North America will outpace UHNW individuals in Asia-Pacific through 2032, according to Wealth-X’s "World Ultra Wealth Report 2011."

J.P. Morgan Asset Management is proposed a fundamentally different approach to defined contribution plans by stripping down offerings a complexities to a menu of just three choices: a diversified stock portfolio, a diversified bond portfolio and one offering diversified cash alternatives.

FINRA has fined Morgan Stanley Smith Barney $1 million and ordered another $371,000 in restitution and interest to customers for excessive markups and markdowns charged to customers on corporate and municipal bond transactions as well as other supervision violations.

WASHINGTON — For more than a year, Republicans have been hammering Democrats for what they say are the hefty economic costs of new financial regulations.

The Financial Services Authority has slapped a Dubai-based private investor a record $9.6 million – the largest fine ever for an individual – for manipulating the price of a Indian firm traded on the London Stock Exchange.

FINRA has proposed a new rule requiring carrying and clearing firms to maintain certain customer records electronically in an automated accessible location to facilitate the liquidation and transfer of customer accounts if the firm goes bust.