The Practice: Regulatory/legal issues
Protecting Clients from Scams with Curiosity and Empathy
August 12, 2022No Comments
Scammers have capitalized on clients' vulnerability and loneliness, especially since the pandemic started, according to RBC Wealth Management's Tara Ambrose.
Clients Unaware that B-D Moved $54M of Securities: SEC
August 12, 2022No Comments
Alpine Securities allegedly deemed accounts worthless and closed them without notifying customers and moved tens of millions of dollars worth of clients’ securities.
Cetera Preps Advisors to Reap Benefits of New SEC Marketing Rule
August 11, 2022No Comments
The firm will be training its advisors on the rule beginning in September, according to director of regulatory affairs Mark Quinn.
Booming Alt Demand Triggers New SEC Reporting Rules
August 11, 2022No Comments
The proposed changes are aimed at making a better assessment of systemic risk among alts managers and giving the commission data to shape regulatory and policy proposals.
Ex-Morgan Stanley FA Ordered to Forfeit $3.2M by Federal Judge
August 11, 2022No Comments
Shawn Good, accused by the SEC of running a $4.8 million Ponzi scheme, was barred from selling securities earlier this month by federal judge in North Carolina.
Finra Raises Alarm Bells Over Forged E-Signatures
August 10, 2022No Comments
The self-regulator says it “has received an increasing number of reports” of digital signature forgery and falsification.
Ex-Morgan Stanley FA Arrested for Shooting Biz Partner Dies
August 10, 2022No Comments
“At the end of Leonard’s long and exemplary life, he unfortunately struggled with mental health issues,” according to the obituary in The Oklahoman.
Wells, Ex-FA Ordered to Pay $732K Over Alleged Churning
August 10, 2022No Comments
A Financial Industry Regulatory Authority arbitration panel has ruled in favor for investors who were seeking well over $7.5 million.
Wealthy Americans Win Out in Dems’ Inflation Reduction Bill
August 9, 2022No Comments
None of the previously proposed tax increases aimed at the richest people in the country made it into the package passed in the Senate on Sunday.
Bill Arms IRS with Billions to Audit Those Making $400K+
August 9, 2022No Comments
The bill passed in the Senate on Sunday would increase the agency’s funding by $79 billion over the next decade, with more than half going toward enforcement.