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SEC limits who qualifies as a public arbitrator
The Securities and Exchange Commission has approved a Finra proposal that would restrict more individuals in securities disputes from serving as public arbitrators, including lawyers who represent plaintiffs.Under the rule, anyone who has worked in the financial industry at any point in his or her
Bill would end mandatory arbitration in brokerage contracts
Legislation introduced Thursday would ban such requirements for investor claims.
Investor, consumer groups call on Finra to release more arbitration data
As task force reviews process, regulator pushed to fess up on selection of arbitrators, award collections and case statistics.
10 developments to watch in the independent broker-dealer industry in 2015
Advisers and their independent broker-dealers saw movement last year in regulation, investment products, business strategies, retirement vehicles and more. Here are 10 of the hottest topics, which are sure to continue to evolve as the year unfolds.LPL strapped with compliance chargesLPL Financial,
What's good for individual investors is good for the whole industry
The financial industry must take every action it can to weed out bad actors and rebuild investor confidence, including beefing up background checks for brokers.
Ketchum: What this industry is missing when it comes to CARDS
Finra chief Richard Ketchum says industry groups like SIFMA are overlooking the investor protection benefit of Finra's controversial data-collection proposal.
Wells Fargo settles bonus squabble for $7.4M
Wirehouse settles class action claim the firm wrongly withheld incentive compensation from two former advisers who changed firms.
Finra expected to adopt CARDS despite vocal industry resistance
Opponents like SIFMA and FSI remain wary of the potential costs, customer data security, but Finra asserts that CARDS will help investors.
Client protection ruse needs to stop
Advisers should demand that industry organizations speaking for them don't let greed overshadow their true mission to help people live sound financial lives.
Brokers can complain to Finra about exams – anonymously
Brokers like to complain about Finra exams. Now they have a chance to tell the organization exactly what they think — anonymously.
Ketchum on hot seat over controversial CARDS proposal
Ketchum dodges criticism over the regulator's data collection program, says 'it's still very early in the game.' (Also: Incoming SIFMA chair worries about CARDS' cost, security.)
SEC Chair Mary Jo White close to revealing her position on fiduciary duty
Mary Jo White is poised to reveal what she believes is the best way for the SEC to address fiduciary duty, with the SEC planning to make a determination this year as to whether to propose a rule or take another approach.
Finra names new head of arbitration
A 19-year veteran of the organization will replace Linda Fienberg on Dec. 1.
Two big developments in retirement planning grab advisers' attention
Social Security and annuities make news, LPL's regulatory headaches continue, and the rest of this week's must-read stories for advisers.
Wunderlich and fired LPL broker part ways
Former star LPL broker and Houston branch manager James "Jeb" Bashaw is no longer joining Wunderlich Securities, and is also fighting back against LPL's allegations.