Regulation

A barred broker told clients the lifestyle media company was about to be acquired, so “they needed to act quickly,” according to the regulator.

The suggestion comes amid opposition from brokerage firms to an expanded fiduciary obligation.

The chairman says the commission is working closely with FINRA on inspection plans to hold brokers to account.

Most clients don’t give a hoot about fiduciary and best interest standards.

Dennis Gibb used client funds to pay for his own business and personal expenses, such as mortgage and car payments.

Summit Brokerage Services wasn’t feeding the notifications into the transactions blotter while its ownership went into flux, according to the regulator.

Should the board use 1% of its budget for its own oversight? A former board chairman responds to this proposal.

The custodial bank says it has reimbursed the affected clients with interest.

Clients seeking to recoup some $14 million in damages have received only 12% of their total claims, according to an SEC-appointed receiver.

Many relatively straightforward products have boosted their holdings of lower-rated bonds and emerging markets to juice returns.