Compliance

The SEC and other regulators are seeking information about the bank's use of proprietary products in its wealth management business, the company disclosed in a regulatory filing.

While there's no magic bullet for withstanding an SEC inspection, if you are a sponsor of an alternative investment fund - or have a fund that utilizes similar investment strategies - here are some areas to consider.

"LPL's supervisory breakdowns resulted from a sustained failure to devote sufficient resources to compliance programs integral to numerous aspects of its business," said Brad Bennett, FINRA's executive vice president and enforcement chief.

Wells Fargo was sued by Los Angeles for allegedly opening accounts and issuing credit cards without customers’ authorization as part of what the city called a “fee-generating machine.”

A recently proposed expansion of the fiduciary standard to include rollovers and IRAs by the Department of Labor means authorities could give the industry more than just fines to worry about.

Morgan CFO Ruth Porat was eligible for $14.1 million in unvested restricted stock and $13.8 million in total deferred compensation as of the end of 2014.

FINRA is weighing whether to drop a plan for a trade-surveillance system that has drawn sharp opposition from the brokers that fund the agency.

As new state regulations loom, experts caution that examiners already expect advisors to have a business continuity and succession plan in place.

The financial industry and the White House are gearing up for a fresh battle this spring over investment advice for retirement savings.

LPL's net income dropped 4.6%, as the firm recorded $11 million in regulatory and legal bill for the first quarter.

Former Federal Reserve Chairman Ben S. Bernanke's new senior adviser role at PIMCO is his second consulting agreement with a top money manager in as many weeks.

Instead of shifting all their assets to bonds and other safe investments, retired clients should keep some in high-quality dividend stocks; Also, clients should be self-centered when planning for retirement.

The U.S. Senator says she is, "concerned that these incentives present a conflict of interest for agents and financial advisors."

The SEC is investigating whether the bank's Merrill Lynch unit broke rules designed to safeguard customer accounts, according to the Wall Street Journal.

After several annual losses and FINRA fines, call center magnate John Sykes to sell JHS Capital to the country's second-largest IBD.

The commission alleges that the advisor and his associates defrauded investors by concealing key information about unpaid debts in two rounds of securities offerings in farm loan ventures.

Three advisors were stripped of their CFP designations, 13 were suspended and seven were publicly admonished for technical infractions.

By taking a "glass half-empty" approach on the fiduciary issue, regulators are doing investors and advisors a disservice.

Building a successful asset management firm is difficult. That's not an earth-shattering statement given that most firms fail to meet their expectations for asset growth. And yet each year, hundreds of firms plunge into investment management believing they have something to offer that will drive investor acceptance and success for their business.

CEOs, when questioned in recent earnings calls, offered first impressions of the impacts the proposal may have on the industry.