The Financial Industry Regulatory Authority (FINRA) said that
supervisory failures at MetLife Securities allowed two brokers to
engage in undisclosed outside business activities that cost clients
millions of dollars.
Northwestern Mutual Investment Services, LLC, City Securities
Corporation, and Fifth Third Securities, Inc., are the latest firms to
settle charges with FINRA over the sale of auction-rate securities (ARS).
RIA In A Box, a consulting business that helps set up registered
investment advisory (RIA) firms, said it will begin offering mock audit
services to RIA firms that want extra preparation for regulatory audits.
When it comes to qualified retirement plans, there are three kinds of people: people who are fiduciaries and know it, people who aren’t fiduciaries and know it, and people who are fiduciaries and don’t know it.