Law and regulation

Anthony Kelly, the new co-head of the SEC’s Enforcement Division subunit, looks to reassure CCOs.

The clearing houses are too important to fail, and the current rules governing their risk management are too lax.

Voices: Moving from a commission account to a fee-based account with an additional risk tolerance questionnaire does not equal sufficient Know-Your-Customer or suitability measures.

The advisor was a compulsive gambler who continued to bet in an attempt to make his clients whole, says attorney.

The advisor also beat back Wells Fargo's $200,000 in claims for breach of promissory note.

BlackRock issued and sold more shares than it was authorized to in its iShares Gold Trust, which could lead to penalties by regulators.

The domestic planning component of advising is likely to be increasingly regulated, and firms should use this to their advantage, Glenn G. Kautt says.

The commission also settled related charges against First Southwest, a financial advisor, for failing to document its advisory relationship with the agency for seven months.

The rep was reprimanded for allegedly failing to disclose her business involvement with a kitchen-cabinet installation company in Florida.

FINRA's BrokerCheck shows that 7% of advisors were disciplined for misconduct, including putting clients in unsuitable investments and trading on client accounts without permission, a new study says.