Compliance

The SEC claims Schwab failed to file reports on suspicious transactions by independent advisors.

DaRayl Davis spent client funds on a luxury mansion, theater tickets and car rentals, federal prosecutors say.

Former San Diego Chargers guard Kris Dielman says the independent broker dealer failed to supervise his former advisor.

A FINRA arbitration claim followed an asset freeze and the launch of a federal investigation into the fired advisor’s RIA.

The banker was accused of directing a scheme that tacked hidden fees onto billions of dollars’ worth of trades by sovereign funds and other investors.

Can an RIA take the first bite of the apple when it comes to a dually registered rep’s brokerage commissions?

The firm arranged to make transactions differently on the days that it was required to calculate its reserve deposits, the regulator says.

The firm agreed to settle and admitted wrongdoing, according to the regulator.

Some of the proceeds went to commission a song with the lyrics: “Pop champagne in L.A., New York to Florida; buy another bottle just to spray it all over ya,” says the SEC.

The client, who was the co-founder of the HSN, suffered from dementia and was declared legally incompetent, according to a FINRA letter of acceptance, waiver and consent.

FINRA plans to unveil a new user interface for its central registration depository system on June 30.

The move is an early indication of how firms may react to the demise of the Labor Department regulation.

The advisor told the client that she could pre-pay her advisory account fees at a discount by writing him a $7,400 check, FINRA claimed.

The wirehouse's traders and salespersons misled and overcharged clients with regard to the securities, the regulator charges.

Other states are likely to enter similar agreements with the broker-dealer.

Keeping brokers and advisors on a separate regulatory track could preserve the “competitive advantage” that RIAs enjoy, says Schwab exec.

While a search is underway to replace Howard Plotkin, his duties are being handled by global Chief Compliance Officer David Lang.

Cory Redding couldn't retire after the 2014 season and played another year to recoup some of his losses.

One of the arbitrators on the three-member panel should have been disqualified, according to the petition.

Before agreeing to settle a client’s complaint, advisors should look for this key clause in the contract.