Tag: FINRA
New Enforcement Structure at FINRA; Calls for ‘Fintech’ Commentary
FINRA asks advisers to share their insights about “fintech innovation in the broker/dealer industry,” while also unveiling a new structure for its enforcement staff.
SEC’s Inspections and Examinations Office Demands Best Execution
Commentary from Wagner Law Group and Drinker Biddle attorneys highlights what advisers need to know about the SEC’s ongoing analysis of broker/dealer “best execution” issues, as summarized in...
Betterment Settles FINRA Allegations Tied to Bookkeeping Practices
Without admitting guilt or even the facts of the case, Betterment has settled various allegations of improper recordkeeping and "window dressing" leveled by FINRA, to the tune of...
FINRA Seeking Comments on Churning Rules as SEC Considers Action
A new client alert published by the Wagner Law Group urges advisory firms to review and consider an update to anti-churning policies, now that FINRA and the SEC...
Launch of Stradley Ronon Fiduciary Governance Group Reflects Litigation Trends
Amid a glut of retirement plan industry litigation and regulatory change, advisers are asking the twin questions of whether one owes a fiduciary duty to their client, and...
FINRA Rep Monitoring Rule Change Could Trigger RIA Compensation Renegotiation
The regulator is reassessing its requirements for RIAs to monitor the outside business activities of their reps; one experts argues it is likely that, if the final rule...
Gainfully Adds Communications Platform for FinTech Firms
The new tool aims to help advisers speak regularly with clients in efficient and seamless ways.
Liquidity Fees and the Fiduciary Duty of Best Execution
Retirement plan fiduciaries must understand the expenses their participants pay to make trades and access investments, but their duty to monitor and ensure reasonableness is not limited to...
DOL and SEC Uniform Advice Standard May Not Be Far Off
Leadership at both the DOL and SEC have signaled a willingness to work together to find complementary approaches to managing advisers’ conflicts of interest—but it will be a...
AxiomSL Launches Regulatory Education Program
The new compliance support programming is free for advisers and seeks to “shed light on opacity surrounding financial regulations."
UBS Challenges Client Recruiting By Former Advisers
A lawsuit filed by UBS against a number of former brokers—accused of too aggressively soliciting old clients immediately after going independent—shows plan participants aren’t the only source of...
Merrill Lynch Reaches Tentative Settlement in ERISA Suit
Two years of litigation and negotiation later, the parties have reached a proposed agreement to settle the class action, valued at $25 million.
FINRA and SEC Announce Compliance Forum for B/Ds
Cybersecurity, investing by seniors, and other regulatory topics of interest will be discussed.
FINRA Aims For Closer Policing of Elder Financial Abuse
The Securities and Exchange Commission has approved FINRA's rule proposal addressing financial exploitation of seniors.
Mass. Securities Division Examines Broker Misconduct
State investment market regulators in Massachusetts have expressed serious concern around the continued employment of broker/dealer agents with histories of misconduct.
Robo-Advisers as Fiduciaries Present Challenges and Opportunities
As Baby Boomers push closer to retirement, they are facing a drastically different investing world than the one they grew up in—gaining access to radically different approaches to...
