Law and regulation

One impersonated a client, another grabbed client funds via ATM withdrawals and a third stole from a nonprofit, FINRA says.

The industry regulator handed out a lifetime ban, fines and suspensions to three brokers involved in a scheme to pump up the trading price and volume of stock.

Brokers' clients received letters from LPL that implied he stole money, over a $20,000 loan he had repaid, lawyer says.

In the latest in a series of cases, an arbitration panel has sided with a client against UBS, ordering the wirehouse to pay nearly $1.5 million in damages related to UBS' sale of Puerto Rican bonds and closed-end funds.

A third-party examination system might be the most practical response to RIA oversight, but questions remain about how advisors will shoulder the costs.

The commission wants to dramatically reshape the regulatory environment for investment advice in waning months of President Obama's administration.

About 75% of what's in the proposal will probably stick, says a leading retirement expert. Here's what advisors can expect.

A rough economy, regulation and evolving technology will keep forcing small banks to merge, said Richard Hunt, head of the Consumer Bankers Association. Hunt's position puts him at odds with bank advocates, including Camden Fine at the Independent Community Bankers of America, who believe small banks should ignore the drumbeat calling for more consolidation.

You could tell clients to move to another state to avoid a $1.2M tax bill. Or you could suggest a domestic asset protection trust instead.

Critics suggest questionnaire-driven automated advice can't completely address client risk tolerance, but technology firms say transparency is the solution.

The commission's barring of one advisor follows similar action by state authorities, indicating that regulators are coordinating their enforcement activities.

Asset managers focus on content marketing with the development of podcasts and even video packages to showcase their expertise.

The fund was purportedly a safe investment based on a computer algorithm. In fact, clients dumped millions of dollars into a fund, which later lost 80% of its value in a single month, authorities say.

LPL CEO Mark Casady expects "continued pressure on brokerage sales."

Miller's fund is structured to make bets based in part on a computer model designed to predict natural disasters.

The new proposals may end up being the best thing that ever happened to ETNs.

Good compliance management software means no more overlooked emails, or documents gathering dust in filing cabinets, says BasisCode Compliance CEO.

A FINRA panel ordered the wirehouse to pay a client $95,000 for losses relating to bonds issued by the island commonwealth. By contrast, UBS says it faces more than $1 billion in similar claims.

Pooled employer plans and auto-enrollment gain Senate support, but advisors working with those plans could soon be held to a higher fiduciary standard.

The proposal landed at the White House's Office of Budget and Management yesterday for one last review.