The idea of investors borrowing to buy stock troubles a former head of enforcement at Finra and several others.
February 19, 2020
The losses come at a time when the firm has been focused on growing its wealth management business under current CEO.
FA-IQ reached out to top Financial Times-listed brokers and advisors to ask if they are in favor of expanding the definition of accredited investors.
The brokerage allegedly failed to supervise one of its former agents who engaged in short-term trading of Class A shares.
Under the proposal, the regulatory element would be required annually rather than every three years as is the norm currently.
The move will apply to software platforms Salesforce, Orion, Smarsh and Egnyte on April 1, and to eMoney in May.
As part of the enhancement, wealth management firms using Fidelity’s Integration Xchange will have access to better testing of integrations before they fully commit.
Michael Corbat will earn $24 million for the year.