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Rep. Spencer Bachus seen offering legislation that could lead to FINRA becoming the self-regulatory organization overseeing investment advisors.
April 13 -
MME reports on April 13, 2012: After a long, winding legal road, involving no fewer than six federal court decisions, Ameriprise Financial finally won a suit alleging that it had charged excessively high advisor fees.
April 13 -
Lincoln Financial Advisors had abruptly terminated Jeffrey Concepcion in August 2008, according to the arbitration filing, and then withheld severance after he refused to agree to a non-competition agreement.
April 13 -
Goldman Sachs has agreed to pay a $22 million fine and accept other penalties to resolve charges from the SEC that the firm lacked adequate policies and procedures to address the risk that during weekly meetings, known as huddles, its analysts could share important non-public information about upcoming research changes.
April 13 -
FINRA is taking comments on its proposal to change the rules for its current procedures for removing complaints about advisors from a central database. But time is running out, as the comment period ends May 21.
April 10 -
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The first criminal trial involving muni market executives accused of bid-rigging is scheduled to begin next week in a federal court in New York City, unless they enter into plea agreements.
April 10 -
After taking public comment, CFP Board announced new changes to its rules and procedures in three areas, including the way it handles bankruptcies among certificants and applicants.
April 5 -
A FINRA hearing panel has fined Syosset, N.Y.-based David Lerner Associates Inc. $2.3 million and suspended head trader William Mason for six months with a $200,000 fine for charging excessive markups on municipal bond and collateralized mortgage obligation transactions over a two-year period.
April 4 -
The CFTC is expected to file a civil case against JPMorgan. The bank is expected to settle the Lehman matter and pay a fine of about $20 million, the paper reports.
April 4
