FINRA

As the financial planning industry nears a fee-only, fiduciary world, independent broker-dealers will face some important choices about their future business models.

She'll now be responsible for supervisory operations at one of the largest firms she once helped regulate.

The regional BD failed to properly document its own investigations in the matter, and couldn't answer some SEC questions about who knew what and when, the regulator says.

National Financial Services accused the brokers' former IBD of breach of contract in a case displaying the complexities of such moves.

The broker also purportedly neglected to disclose an outside real estate business to BBVA, FINRA said.

The accusations shed light on the massive back-office systems maintained by regulators and the difficulty of keeping the sensitive information in them private.

The regulator moved to eliminate a $400 fee for “explained decisions.”

The two IBDs have agreed to pay restitution in one of the largest securities fraud cases in the advisor’s home state.

The trade group cautions that the SEC could outsource advisor oversight due to low examination rates.

Ross Gerber says he left the firm to avoid its strict oversight of his press interviews and social media.