Regulatory actions and programs

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.

Robert W. Cook will replace Richard Ketchum, who announced his retirement last year.

The firm, which acted as a custodian for a defunct RIA, allegedly failed to make material disclosures to clients regarding their accounts.

With retirement accounts being affected by the upcoming fiduciary rule, many advisers aren’t sure what their first step should be.

One recommendation takes aim at the home loan tax deduction — in some cases.

The regulator cited security oversights that led to the theft of thousands of customer accounts.

The nontraded REIT industry moved to introduce a new share class following tighter regulations.

The regulator also says that the firm suffered from supervisory failures during a four-year period.

The new regulations are “arbitrary and capricious," a trade organization asserts.

Richard W. Davis also took $1.5 million in fees while he was entitled to just $150,000, the commission alleges.

The adviser claimed she was unjustly fired from First Citizens Bank for allegedly making unauthorized bonus payments to her two sales assistants totaling $9,000.

The U.S. Chamber of Commerce, SIFMA, FSI and other groups are asking a Texas court to vacate the Labor Department's new regulations less than a year before the rule goes into effect.

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

If you're still thinking about a client who may be suffering from diminished capacity or displays other worrisome signs, then you need to say something, says Dr. Nancy Needell.

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

The elderly have called with technology issues, needing assistance with poorly understood account statements and to report scams. The calls also have helped the regulator identify mistakes and instances of abuse.

Richard Ketchum adds that the regulator needs to take a closer look at the culture of wealth management companies to see if executives are setting the right tone: "It is essential that a firm's leadership own the policies and procedures."

“The SEC is notorious for blowing through rule-making deadlines—both congressionally mandated and self-imposed, such as this,” says Micah Hauptman, financial services counsel at the Consumer Federation of America.

An arbitration panel ruled in UBS' favor, after the wirehouse alleged that a former adviser stole client data before moving to Wells Fargo.

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