Compliance

IMHO: The 80/20 Rule

Sooner or later in your career, you are exposed to the 80/20 rule or, as purists term it, the Pareto principle.

U-5 Notices Get Absolute Privilege

The New York Court of Appeals ruled that the notices employers must provide to the National Association of Securities Dealers (NASD) when they terminate an employee cannot be used as grounds for a lawsuit.

$14M Award to Brokers Fired For Market-Timing Upheld

Rejecting Merrill Lynch’s requests to throw out the award, a federal judge upheld a $14 million award to three former Merrill Lynch brokers fired over allegations of improper market timing in their mutual fund trading activities.

Regulators Still Probing Morningstar Advice Practices

In its most recent filing with the Securities and Exchange Commission, Morningstar Associates, LLC said that the SEC has ended an investigation into the firm’s practices, while the Department of Labor and New York Attorney General’s office appear to be taking their investigations to the next level.

IMHO: Option “Null″

Not too long after my first daughter was born, my wife decided that we needed to have a vehicle with four doors.

Fiduciary Breach Costs CPA $5,000

A California CPA firm will have to pay $5,000 in restitution to an employee stock ownership plan (ESOP), to resolve a lawsuit alleging that the CPA firm knowingly participated in fiduciary breaches under the Employee Retirement Income Security Act (ERISA).

A Billion Here, A Billion There…

The New York Stock Exchange has fined Morgan Stanley $300,000 for its failure to stop a trader from entering an order to buy $10.8 billion in stocks – rather than the $10.8 million intended.