Compliance

Perspectives on the state of asset management from industry leaders and experts.

The firm allegedly settled a dispute with two customers on the condition that they would not oppose efforts to expunge the details of the dispute from the Central Registration Depository system.

The group aims to provide planners with new technology focused on helping a firm become compliant, but it may cost them.

The regulator says that it issued a notice in 2009 to broker-dealers regarding the risks and complexities of nontraditional ETFs. FINRA says Oppenheimer failed to implement these policies.

The firm is facing a lawsuit on behalf of investors who lost money in a $350 million Ponzi scheme.

A longstanding obstacle is getting banks to recognize the opportunities in the wealth business, says Arthur Osman, executive vice president and institution service business consultant at LPL.

Quantum Advisors, which picks Indian stocks for Norway’s $860 billion wealth fund, says investors should stay away from index investing in Asia’s fourth-biggest market.

Some insiders at big brokerage firms encouraged the DoL to maintain progress. "That kept us going," Assistant Secretary of Labor Phyllis Borzi says.

Careful steps need to be taken so FINRA won't consider it an outside business activity, says compliance expert Alan Foxman.

The new rules were developed in consultation with the SEC, the Labor secretary adds.

Three weeks after the broker killed himself, the firm agreed to a confidential settlement with his wife for an undisclosed amount.

“The election could be disruptive to this rule,” Brian Hamburger predicted.

The regulator says the firm had "widespread failures" in its anti-money laundering programs for both its employee and independent channels.

There is little to fear from the final version of the Department of Labor's regulation, planners say in a new survey.

FINRA reprimanded the former rep for allegedly falsifying personal documents as accommodations for HSBC bank customers.

The advisers are also balking at the firm's insistence that former advisers seeking to claim comp go through its dispute resolution process instead of FINRA.

The former rep allegedly stole $1,380 from a customer's bank account by issuing and then using a debit card without the customer's knowledge.

Now that the sharply contested rule is the law of the land, a senior agency official says the department looks to help with compliance, not find targets to sue.

Concerns about the new fiduciary rule helped propel the move, along with a drop in LPL service, an adviser says.

The finalization of the Department of Labor’s recent fiduciary ruling has left more than one out of three retirement plan service providers uncertain of their professional status, according to a new industry survey.