Compliance

The wealth manager claimed bank management knew a customer had a history of sexual harassment, but allowed him to continue doing business at the branch anyway.

“It’s like nuclear fallout. The bomb didn’t drop on you but you were within five miles of it," said Alan Johnson, managing director of compensation consultant Johnson Associates.

Faced with the retention risk from the RIA-only channel, firms are trying to alter their company cultures and questioning traditional approaches.

The IBD advocacy group expects no letup in enforcement by the regulator — with wide ramifications across wealth management hanging in the balance.

Make sure not to confuse it with the SEC’s self-reporting program.

It’s been a long tail for the firm that began with the 2016 revelation that employees had opened millions of fake accounts to meet sales goals.

FINRA blocked the influential advisor and wealth management entrepreneur on one case, but an arbitrator backed him on another.

The SEC examined approximately 2,180 RIAs in 2019.

SEC-mandated disclosures for dual registrants could put clients off brokerage options, some suggest.

From closed-end funds to Reg BI, here's what could be playing out this year.

The top brass being unaware of this stuff happening on their watch doesn’t inspire confidence.

These shortcomings were primarily due to “systemic, longstanding, governance-level weaknesses,” a new report says.

"I don't mean to ruin your holidays, but ... " Regulators and industry insiders caution against delaying compliance efforts as the June deadline approaches.

While these 20 dizzying changes will throw some for a loop, financial advisors and their clients grow more powerful each year.

One size fits all? The single form for disclosure of client-advisor relationships applies even if firms offer multiple products and services.

The SEC says broker-dealers may treat investment advisors as if they were subject to the AML Rule — under certain conditions.

A former rep has drawn at least 30 claims after pleading guilty to fraud, while clients of another ex-LPL advisor are seeking damages five years after his initial arrest.

Not a great idea, says Alan Foxman, but if you’re determined, there may be a way.

The fact that it’s impossible to track the amount of revenue sharing kickbacks demonstrates the problem, says the research firm’s lead policy wonk.

An extension from the agency comes amid warnings from brokerages that breaking out stock and bond analysis would threaten their own research businesses.