Regulation

In the first of what the SEC hopes will be many more such awards, a whistleblower has received $50,000 for his or her help in stopping a multi-million dollar fraud. More money may be forthcoming for the individual if other, related cases move forward. The first award comes about a year after the whistleblower program began operating.

The federal regulator said it has identified the first recipient of a ‘whistleblower’ award, intended to help curb fraud in the securities industry. But the recipient and the case involved were not identified.

In a surprise move, incoming National Association of Personal Financial Advisors Chairman, Ron Rhoades, said that because of a compliance violation by his firm he will not be assuming the helm of the advocacy group on September 1 as anticipated.

The SEC announced fraud charges and an emergency asset freeze against a Denver-based company and two Colorado residents for allegedly carrying out a $15.7 million Ponzi scheme that dragged in more than 120 investors nationwide.

FINRA says the brokerage didn't have enough controls in place to detect that Jared Weinryt had breached his $116 million trading limit as he made overnight bets on so-called futures.

RIA in a Box's registration maintenance service focuses on turning down an RIA's panic level from surprise regulatory visits.

Wells Fargo & Co. agreed to settle charges that its brokerage and a former vice president sold securities it didn't understand to municipalities, non-profit organizations and other customers.

As sales of ETFs boom, the SEC's Office of Investor Education and Advocacy has released an investor bulletin on the investment vehicle.

Here's something for the estimated 72 million 401(k) participants to look forward to at the end of this month: On Aug. 30, the Department of Labor's Employee Benefits Security Administration participant fee disclosure rule, dubbed ERISA 404(a)(5), will go into effect.

Independent financial advisors are strong supporters of former Massachusetts Gov. Mitt Romney in his presidential bid, a new survey has found.